Avantor, Inc. has recently released its 10-Q report, revealing a snapshot of its financial performance for the three months ended September 30, 2024. The company, headquartered in Radnor, Pennsylvania, provides mission-critical products and services to customers in various industries, including biopharma, healthcare, education, government, advanced technologies, and applied materials across the Americas, Europe, Asia, the Middle East, and Africa.
During the three months ended September 30, 2024, Avantor recorded net sales of $1,714.4 million, a net income of $57.8 million, Adjusted EBITDA of $302.5 million, and Adjusted Operating Income of $274.8 million. The net sales decreased by 0.3%, including a 0.7% decline in organic sales compared to the same period in 2023.
Effective January 1, 2024, Avantor changed its operating model and reporting segment structure from three reportable segments to two, namely Laboratory Solutions and Bioscience Production. This change had no impact on the company's consolidated operating results.
The company highlighted several factors and current trends affecting its business and results of operations. These included the impact of the transition from the global coronavirus pandemic, supply chain constraints, inflationary pressures, and the implementation of a cost transformation initiative to reduce expenses.
Avantor also provided a detailed overview of key indicators of performance and financial condition, including net sales, gross margin, operating income, net income, Adjusted EBITDA, Adjusted Operating Income, cash flows from operating activities, and free cash flow.
The report further delved into the results of operations, discussing net sales, gross margin, operating income, and net income for the three and nine months ended September 30, 2024, as well as the changes compared to the same periods in 2023.
Today the company's shares have moved -2.9% to a price of $22.61. For the full picture, make sure to review Avantor's 10-Q report.
