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Based in Center Valley, PA, Avantor, Inc. (NYSE: AVTR) is a global leader in providing mission-critical products and services to customers in diverse industries such as life sciences, healthcare, education and government, as well as advanced technologies and applied materials. Avantor's portfolio includes high-performance chemistries and materials marketed under reputable brand names such as J.T.Baker®, Macron Fine Chemicals™, Rankem™, BeneSphera™, and POCH™. The company's offerings span materials and consumables, equipment and instrumentation, as well as services and specialty procurement.
Operating across three geographical segments—Americas, Europe, and AMEA—Avantor generates a majority of its revenue from the Americas. Recent strategic initiatives include a partnership with Tobin Scientific to support end-to-end biopharma logistics, enhancing Avantor's ability to provide cold chain and ambient storage solutions for lab relocations and sample transport. This collaboration ensures current Good Manufacturing Practice (cGMP) compliance and aims to streamline complex logistics, thereby allowing customers to focus on advancing their research.
In addition to its commitment to operational excellence, Avantor is making strides in sustainability. The company recently introduced an innovative packaging system that optimizes product-to-package ratios, significantly reducing shipping material usage. This system has already saved thousands of pounds of filler material, exemplifying Avantor's dedication to eco-friendly practices.
Financially, Avantor reported net sales of $1.72 billion for Q3 2023, a 7.3% decline compared to the previous year, largely due to organic sales dips and COVID-19 headwinds. Despite these challenges, Avantor achieved more than 110% free cash flow conversion, facilitating ongoing debt reduction. The company also reaffirmed its FY2023 guidance, underscoring its confidence in long-term growth prospects by implementing a new operating model and advancing a $300 million cost optimization initiative.
Avantor’s global footprint gives it access to over 300,000 customer locations in 180+ countries, thereby positioning it as a crucial partner in facilitating scientific breakthroughs and innovation. For more information, visit avantorsciences.com.
Avantor, Inc. (NYSE: AVTR) reported preliminary unaudited revenues for Q3 2021, totaling $1.83 billion, a significant increase of 14.3% year-over-year, with organic growth at 10.2%. The company anticipates finalizing its Masterflex debt financing in Q4 2021. These preliminary results, reflecting management's current views, are subject to change prior to the official earnings release on October 29, 2021. The unaudited figures have not been reviewed by independent auditors and should not replace full financial statements.
Avantor, Inc. (NYSE: AVTR) will release its third quarter 2021 financial results on October 28, 2021, after market close. A conference call to discuss the results is scheduled for October 29, 2021, at 7:30 a.m. EDT. Interested parties can join by phone or listen to a live webcast via the investors section of our website. The earnings press release will be available on the company’s website.
Avantor announced the pricing of an underwritten offering of 20,833,334 shares of its common stock at $42.00 per share. The offering includes a 30-day option for underwriters to purchase an additional 2,976,190 shares. Proceeds will primarily finance the acquisition of Masterflex from Antylia Scientific and may also support general corporate purposes. The offering is set to close on September 16, 2021, pending customary conditions. Goldman Sachs, Citigroup, and BofA Securities are among the joint book-running managers for this transaction.
Avantor announced plans to offer $750 million of common stock in an underwritten offering, related to a pending acquisition of the Masterflex bioprocessing business. The proceeds will also support debt financing. Underwriters may purchase additional shares within 30 days. The company aims to use net proceeds primarily for the acquisition, or for general corporate purposes if not completed. The offering's managers include Goldman Sachs, Citigroup, and BofA Securities.
Avantor, Inc. (NYSE: AVTR) announced a definitive agreement to acquire Masterflex bioprocessing business from Antylia Scientific for $2.9 billion, netting $2.7 billion after tax benefits. Masterflex, based in Illinois, focuses on peristaltic pumps and single-use fluid transfer technologies, generating approximately $300 million in estimated 2022 revenues. This acquisition aims to enhance Avantor's biopharma offerings, contributing to revenue growth and margin improvement. Completion is expected in Q4 2021, subject to regulatory approvals.
Avantor, Inc. (NYSE: AVTR) announced a multi-year investment to enhance its global hydration capabilities, completing a significant facility expansion in Gliwice, Poland, and initiating further expansion in Aurora, Ohio, projected to finish by mid-2022. This investment aims to support the biopharmaceutical industry's increasing demand for biologics by outsourcing buffer preparation, which can streamline workflows and accelerate therapy production. The expanded facilities will improve Avantor's ability to offer WFI-quality water buffer manufacturing, enhancing support for biopharma manufacturers globally.
Avantor, a global leader in mission-critical products for various industries, announced a virtual investor day scheduled for September 9, 2021, at 9:00 a.m. EDT. The event will be accessible via webcast on their official website, where a replay will also be available post-event. Avantor serves over 225,000 customer locations globally, impacting research and production across biopharma, healthcare, education, and advanced technology sectors. The company emphasizes forward-looking statements, cautioning that these may involve risks and uncertainties.
Avantor, Inc. (NYSE: AVTR) reported robust financial results for Q2 2021, with net sales of $1.86 billion, up 25.7% year-on-year. Net income surged 162.1% to $157.8 million. The company achieved 34.2% growth in Adjusted EBITDA to $366.6 million, with a margin expansion of 125 basis points. Despite two acquisitions, Ritter GMBH and RIM Bio, having no significant impact on quarterly results, the company raised its full-year guidance, reflecting confidence in ongoing momentum across various markets.
Avantor (NYSE: AVTR) announced a quarterly cash dividend of $0.78 per share for its 6.250% Series A Mandatory Convertible Preferred Stock, translating to a rate of 1.560%. This dividend is payable on August 16, 2021 to shareholders of record as of August 1, 2021. As a leading global provider of essential products and services across life sciences and technology sectors, Avantor's substantial footprint serves over 225,000 customer locations in more than 180 countries, underscoring its influence in critical research and development activities.
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