Welcome to our dedicated page for Avantor news (Ticker: AVTR), a resource for investors and traders seeking the latest updates and insights on Avantor stock.
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, a global provider of mission-critical products and services, announced the pricing of a secondary offering of 71,569,765 shares of its common stock at $25.25 per share. This offering, conducted by certain stockholders including New Mountain Capital, reflects an increase from the initially proposed 71,339,001 shares. The underwriters have a 30-day option to purchase up to an additional 7,156,975 shares. The offering is expected to close on November 10, 2020.
Avantor, Inc. (NYSE: AVTR) announced an underwritten secondary offering of 71,339,001 shares of common stock by certain stockholders, including an affiliate of New Mountain Capital, LLC. The underwriters, Goldman Sachs & Co. LLC and J.P. Morgan, may also purchase an additional 7,133,898 shares within 30 days. Avantor will not receive any proceeds from this offering, which has been registered with the SEC.
Prospective investors can obtain the necessary prospectus from the underwriters. This press release does not constitute an offer or solicitation for the shares.
Avantor executives participated in the Cell & Gene Therapy Bioprocessing & Commercialization Conference, discussing essential topics like process efficiency and scalability within the biopharmaceutical sector.
Dr. Ger Brophy highlighted the need for operational efficiency and automation to enhance accessibility to cell and gene therapies. Claudia Berrón emphasized collaboration among industry leaders to navigate challenges posed by COVID-19, focusing on supply chain disruptions and clinical trial delays. Avantor aims to support the development of novel treatments by partnering with leading pharmaceutical companies.
Avantor announced the pricing of €650 million of 2.625% Senior First Lien Notes due November 2025, up from a previously announced €550 million. The offering closes on November 6, 2020. The Notes are guaranteed by Vail Holdco Sub LLC and its subsidiaries, secured by tangible and intangible assets. Proceeds will redeem existing 6.000% and 4.750% Senior First Lien Notes due 2024. The offering is made under exemptions of the Securities Act, available only to qualified institutional buyers.
Avantor, a global provider of critical products and services in life sciences, announced the initiation of a private offering of euro-denominated senior first lien notes. These notes will be issued by its subsidiary, Avantor Funding, Inc., and guaranteed by its parent company and subsidiaries. The proceeds will be utilized to redeem existing senior notes due in 2024 and cover related expenses. The offering relies on exemptions from registration under the Securities Act, aimed at qualified institutional buyers. Avantor emphasizes its significant role within multiple industries and its extensive global reach.
Avantor, Inc. (AVTR) reported third-quarter 2020 net sales of $1.605 billion, up 6.7% year-over-year, with organic growth of 5.4%. However, the company faced a net loss of $42.2 million due to a $226.4 million debt extinguishment. Adjusted EBITDA increased 14% to $285.6 million, with a margin expansion of 112 basis points. Year-to-date cash flow from operations reached $623.8 million, a 134% rise. The conference call is scheduled for October 28, 2020, to discuss these results further.
Avantor, Inc. (NYSE: AVTR) reported preliminary unaudited revenues for Q3 2020, with total revenues of $1.60 billion, reflecting a 6.7% increase and 5.4% organic growth. The results indicate strong performance, particularly in the biopharma and healthcare markets. The company will release full financial results on October 28, 2020. It is important to note that these figures are preliminary and unaudited, pending final review.
Avantor, a leading global provider in life sciences and advanced technologies, has announced a quarterly cash dividend of $0.78 per share for its 6.250% Series A Mandatory Convertible Preferred Stock. This equates to a yield of 1.560% and will be payable on November 15, 2020, to shareholders recorded by November 1, 2020. This decision reflects Avantor's commitment to providing returns to its stakeholders while maintaining a strong position within the industry.
Avantor (NYSE: AVTR) announced that its General Counsel, Justin Miller, has been honored as a 'Legend In Law' by The Burton Awards Program, recognizing his outstanding legal achievements. He is one of 13 honorees this year, acknowledged for his exceptional reputation and contributions to the legal profession. Miller's career highlights include a significant federal case win at age 26 and leading Avantor's initial public offering in May 2019. The awards celebrate leaders who tackle complex legal challenges on a national and global scale.
Avantor, a global provider of mission-critical products and services, is set to release its third quarter 2020 financial results on October 28, 2020, after market close. A conference call will take place at 5:00 p.m. EDT the same day to discuss the results. Investors can join the call by dialing (866) 211-4132 domestically or (647) 689-6615 internationally, using access code 3557106. The earnings press release and related slides will be available on their website. A replay will be accessible until November 12, 2020.
FAQ
What is the current stock price of Avantor (AVTR)?
What is the market cap of Avantor (AVTR)?
What products and services does Avantor provide?
What are Avantor's key brand names?
What geographical regions does Avantor operate in?
How is Avantor contributing to sustainability?
What are Avantor's recent financial highlights?
What is Avantor's new operational strategy?
Who are Avantor's strategic partners?
How does Avantor support scientific research?
Where can I find more information about Avantor?
What are Avantor's plans for future growth?
