Reflects Growing Commitment to Renewable Energy SourcesEnergize virtual power purchase agreement will provide the equivalent of 25GWh of renewable energy annually beginning in 2026Avantor continues to implement global solar installations, with more planned in 2025RADNOR, Pa., Sept. 25, 2024 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technologies industries, has entered into a 10-year virtual p ...

Core Insights - Avantor, Inc. is participating in BioProcess International 2024, showcasing its reputation in biopharmaceutical development and production [1][2] - The event is expected to attract over 3,200 professionals from more than 40 countries [1] Scientific Presentations - Jungmin Oh, Ph.D. will present on optimizing AAV harvest and purification on September 25 at 12:30 pm [1] - Nandu Deorkar, Ph.D. will deliver a keynote on adapting to changing molecules and regulatory expectations on September 26 at 10:00 am [1] - Jerry Keybl, Ph.D. will discuss viral gene therapy manufacturing at scale on September 26 at 12:15 pm [1] Product Offerings - Avantor will exhibit its Magnetic Mixing Systems, which range from 50 to 1500 liters, including a new tabletop mixer for single-use applications [1] - The Magnetic Mixing Systems are designed for high mixing efficiency with low shear rates, ensuring product quality [1] - The company offers tailored solutions for unique bioprocessing mixing needs through its experienced engineering team [1]

cherdchai chawienghong/iStock via Getty Images The following segment was excerpted from this fund letter. Top Holdings Our top five investments represented roughly 50% of the equity portfolio at quarter end. In alphabetical order, they were Avantor (AVTR), Baxter (BAX), Fiserv (FI), Nintendo (OTCPK:NTDOY), and Philip Morris (PM). Three of these five weighed on performance most heavily in the second quarter. And just the same, four of the top five were the fund’s largest contributors in July. As there wa ...

EcoVadis Rating validates Avantor's business sustainability commitments and performanceRADNOR, Pa., Sept. 12, 2024 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technologies industries, announced today, for the second year in a row, that the Company has been awarded a Bronze Medal from EcoVadis, a global leader in business sustainability assessments.Avantor's latest score of 65, which was awarded ...

RADNOR, Pa., Aug. 22, 2024 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technology industries, announced that Michael Stubblefield, President and CEO, will be participating in a fireside chat at the Morgan Stanley 22nd Annual Global Healthcare Conference in New York on Thursday, September 5, at approximately 10:45 a.m. Eastern Daylight Time.To hear a live audio webcast of the session, visit Even ...

Avantor, Inc. (AVTR) recently signed a definitive agreement to divest its clinical services business, including kitting, biorepository, and related equipment and ancillaries (collectively known as Clinical Services), to Audax Private Equity (Audax). The transaction is expected to close in the fourth quarter of 2024, subject to regulatory approvals and other customary closing conditions.The clinical services business is currently part of Avantor's Laboratory Solutions segment.Avantor’s management plans to di ...

Accelerates ongoing business transformation and sharpens Avantor's strategic focus Strengthens balance sheet with proceeds to be used for debt paydownRADNOR, Pa., Aug. 16, 2024 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technologies industries, today announced the signing of a definitive agreement to divest its clinical services business, including kitting, biorepository, and related equipment ...

Core Viewpoint - Avantor, Inc. reported a decline in adjusted earnings per share (EPS) for Q2 2024, but the results exceeded consensus estimates despite a drop in revenue and segmental sales [1][2][9]. Revenue Details - Revenues for Q2 2024 totaled $1.7 billion, reflecting a year-over-year decrease of 2.4% and missing the Zacks Consensus Estimate [2]. - Foreign currency translation negatively impacted revenues by 0.4%, leading to an organic sales decline of 2% [2]. Segmental Analysis - Avantor restructured its reporting segments into two: Laboratory Solutions and Bioscience Production, effective January 1, 2024 [3]. - Laboratory Solutions reported net sales of $1.16 billion, down 3.2% year over year, with organic sales falling 2.7% due to inventory destocking and cautious spending by biopharma customers [3]. - Bioscience Production's net sales were $547.1 million, a decrease of 0.5% year over year, with organic sales down 0.3% [3]. Margin Analysis - Gross profit for the quarter declined 1.4% to $581.5 million, while gross margin expanded by 30 basis points to 34.1% [5]. - Selling, general, and administrative expenses increased by 13.5% year over year to $405.7 million [5]. - Operating profit rose significantly by 145.2% to $175.8 million, although the operating margin contracted by 620 basis points to 10.32% [5]. Financial Position - At the end of Q2 2024, Avantor had cash and cash equivalents of $272.6 million, up from $234.9 million at the end of Q1 [6]. - Total debt decreased to $5.12 billion from $5.3 billion at the end of Q1 2024 [6]. - Net cash provided by operating activities was $281.1 million, compared to $168.2 million a year ago [6]. Guidance - Avantor maintained its 2024 revenue outlook, projecting between $6.85 billion and $7.06 billion, which represents a decline of 1.7% to an increase of 1.3% from 2023 levels [7]. - The company expects organic revenues to decline by 2% to increase by 1% for the full year, with a similar expectation for Q3 [8]. - Adjusted EPS is projected to be between 96 cents and $1.04 for the full year, with the consensus estimate at $1 [8]. Additional Insights - Avantor's commercial intensity led to share gains through new contract wins and expanded customer relationships in various markets [4]. - The company launched several innovative products aimed at enhancing gene therapy processes and opened a new customer service center in Mexico to improve service levels [10]. - Avantor remains committed to sustainability, as evidenced by its annual sustainability report and ongoing cost transformation initiatives [11].

Core Viewpoint - Avantor, Inc. reported better-than-expected second-quarter earnings, with adjusted earnings of 25 cents per share, surpassing market estimates of 23 cents per share, and sales of $1.703 billion, aligning with estimates [1] Financial Performance - The company achieved a sequential improvement in all key financial metrics, with a notable increase in bioprocessing revenue contributing to over 100 basis points of sequential Adjusted EBITDA margin expansion [1] - Free cash flow conversion exceeded 100% due to disciplined working capital management [1] Management Commentary - Michael Stubblefield, President and CEO, reaffirmed the fiscal year 2024 guidance and emphasized the focus on executing the long-term growth strategy and delivering value to customers and shareholders [1] Stock Performance - Following the earnings announcement, Avantor shares increased by 12.2%, closing at $25.60 [1] Analyst Ratings - Baird analyst Catherine Schulte maintained an Outperform rating on Avantor, raising the price target from $26 to $27 [2] - Stifel analyst Daniel Arias maintained a Buy rating, increasing the price target from $27 to $28 [2]

Q2 2024 Financial Performance - Reported Revenue was $1.703 billion, a decrease of 2.0% compared to Q2 2023's $1.744 billion[12] - Organic growth decreased by 9.1%[12] - Adjusted Gross Profit was $583 million, representing 34.2% of revenues[12] - Adjusted EBITDA was $306 million, or 17.9% of revenues[12] - Adjusted Earnings Per Share (EPS) was $0.25[12] - Free Cash Flow was $235 million[12] Segment Performance - Laboratory Solutions reported revenue of $1.156 billion with organic growth of -2.7% and adjusted operating margin of 13.1%[16] - Bioscience Production reported revenue of $547 million with organic growth of -0.3% and adjusted operating margin of 26.3%[17] Full Year 2024 Guidance (Reaffirmed) - Organic Revenue Growth is projected to be between -2% and +1%[19] - Reported Revenue is expected to be between $6.85 billion and $7.06 billion, representing a reported growth of -1.7% to +1.3%[19] - Adjusted EBITDA Margin is projected to be between 17.4% and 17.9%, resulting in Adjusted EBITDA of $1.19 billion to $1.26 billion[19] - Adjusted EPS is expected to be between $0.96 and $1.04[19] - Free Cash Flow is projected to be between $600 million and $650 million, excluding approximately $100 million in cash costs related to the cost transformation initiative[19]