Avantor rises after 'stable' Q4 results

Avantor

14/02/2024 15:06

** Shares of medical equipment maker Avantor  AVTR.N  rise
8.3% to $23.98
    ** Co reports Q4 adj. profit of 25 cents per share, above
estimates of 23 cents per share - LSEG data
    ** AVTR's Q4 rev came in at $1.72 billion, vs estimates of
$1.70 bln
    ** "All in, while 4Q results were stable, the focus will be
on FY24 guidance assumptions around margins," EvercoreISI
analyst Vijay Kumar wrote in a note
    ** "Looking ahead to 2024, while we are seeing encouraging
signs from our customers and end markets, we have not yet seen
an inflection point," CEO Michael Stubblefield said in a
statement
    ** AVTR forecast 2024 adj. profit per share in the range of
$0.96 to $1.04, vs analysts' estimate of $1.06 - LSEG data
    ** Up to last close, stock down ~8% in the last 12 months

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))