Avantor gains after Q2 profit beats estimates

Avantor

26/07/2024 14:51

** Shares of medical equipment maker Avantor  AVTR.N  soar
10.4% to $25.20; set for best day since July 2020, if gains hold
    ** Co reports Q2 adj. EPS of 25 cents, beating analysts'
estimates of 23 cents
    ** Q2 revenue of $1.70 bln nearly in line with estimates 
    ** Improved mix from increased bioprocessing revenue and
more impact of co's cost transformation initiative helped expand
adj. core profit margins sequentially - CEO Michael Stubblefield
    ** 15 brokerages rate co "buy" or higher, seven "hold", one
"sell", median PT at $27 - LSEG data
    ** Stock up 11.3% YTD

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))