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AVTR — Avantor News Story

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HealthcareAdventurousLarge CapNeutral

Lab equipment maker Avantor's Q3 sales miss estimates, announces $500 mln share repurchase

Overview

Avantor Q3 net sales decline 5.3% to $1.62 bln, missing analyst expectations

Company reports Q3 net loss due to $785 mln goodwill impairment charge

Adjusted EPS for Q3 meets analyst expectations at $0.22

Avantor announces $500 mln share repurchase authorization

Outlook

Avantor announces $500 mln share repurchase program to enhance shareholder value

Company focuses on strategic investments in manufacturing and supply chain

Avantor aims to improve execution and financial performance amid macroeconomic challenges

Result Drivers

GOODWILL IMPAIRMENT - $785 mln non-cash goodwill impairment charge on Distribution unit due to market conditions and financial performance

STRATEGIC CHANGES - Co is evolving its go-to-market approach and investing in manufacturing and supply chain to improve performance

FOREIGN CURRENCY IMPACT - Foreign currency translation had a positive impact of 2.2% on sales

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 SalesMiss$1.62 bln$1.64 bln (18 Analysts)
Q3 Adjusted EPSMeet$0.22$0.22 (19 Analysts)
Q3 Net Income-$711.80 mln
Q3 Gross Profit$526.50 mln
Q3 Operating Income-$648.80 mln
Q3 Pretax Profit-$689.50 mln
Analyst Coverage The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy", 13 "hold" and no "sell" or "strong sell" The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy." Wall Street's median 12-month price target for Avantor Inc is $14.06, about 7.3% below its October 28 closing price of $15.08 The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 12 three months ago Press Release: ID:nPnc7xpfba For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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