Avantor Inc. Reports Mixed Q3 Results

NEW YORK – Avantor Inc. (NYSE:AVTR) reported mixed third-quarter results, with revenue falling short of analysts' expectations, causing shares to decline by 2.36% in premarket trading on Friday.

The life sciences and advanced technology company posted adjusted earnings per share of $0.26, slightly surpassing the consensus estimate of $0.25. However, revenue of $1.71 billion missed projections of $1.72 billion.

Net sales declined 0.3% YoY, or 0.7% on an organic basis. The company's Bioscience Production segment experienced a 3.2% revenue drop to $542.9 million, while Laboratory Solutions revenue increased by 1.1% to $1.17 billion.

> “Our team delivered another quarter of solid financial results, including outperformance in bioprocessing and a return to growth in our laboratory solutions segment,” said Michael Stubblefield, President and CEO of Avantor.

The company generated $204 million in free cash flow during the quarter, up from $193 million the previous year. Management has raised its full-year free cash flow guidance.

Avantor stated it remains on track for mid to high single-digit growth in its bioprocessing business for the year, supported by continued momentum in order intake. The company's cost transformation programs are ahead of schedule.

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