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Sep 30, 2024
Avantor Q3 2024 Earnings Report
Reported solid financial results with bioprocessing outperformance and laboratory solutions segment growth.
Key Takeaways
Avantor reported a slight decrease in net sales but demonstrated strength in bioprocessing and laboratory solutions. The company is raising its free cash flow guidance for the year, driven by a disciplined approach to working capital and cost transformation programs running ahead of plan.
Net sales were $1.71 billion, a decrease of 0.3% year-over-year with an organic decline of 0.7%.
Net income was $57.8 million, with an adjusted EBITDA of $302.5 million.
Diluted GAAP EPS was $0.08, while adjusted EPS was $0.26.
Operating cash flow was $244.8 million, and free cash flow was $204.0 million.
Avantor
Avantor
Forward Guidance
Avantor is on track to realize mid to high single-digit growth in its bioprocessing business and is well-positioned to achieve its full-year guidance.
Positive Outlook
- Continued momentum in order intake in the bioprocessing business.
- Cost transformation programs are running ahead of plan.
- Expected mid to high single-digit growth in the bioprocessing business.
- Focus on delivering long-term growth for Avantor.
- Commitment to providing differentiated value to customers and shareholders.