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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 (NYSE: AVTR) and Avantor Foundation announced over $7 million in grants since 2009, focusing on STEM education and healthcare access. In 2022 alone, they donated more than $1 million to 15 organizations and provided over $1.3 million in products for education and disaster relief. The Foundation's recent initiatives included supporting STEM activities for over 2,000 youths in the UK and medical services for 5,000 children in Shanghai, China. Avantor is expanding employee engagement in community service, including matching donations and volunteer time.
Further details will be available in the 2023 Sustainability Report.
Avantor has entered into a multi-year supply and services agreement with Catalent to provide a wide range of laboratory supplies, clinical materials, and services. This partnership aims to enhance both companies' capabilities in delivering better treatments to patients and reflects their commitment to meeting global health needs. The collaboration builds on an existing relationship, showcasing Avantor's strengths in reliability and innovation.
Avantor, a leading global provider of mission-critical products and services, will announce its fourth quarter and full year 2022 financial results on February 3, 2023, before the market opens. A conference call to discuss these results will take place at 8:00 a.m. EST on the same day. Investors can access the live audio webcast through the company's Investors section on their website. A replay will be available for 30 days thereafter.
Avantor, Inc. (NYSE: AVTR) has announced that Michael Stubblefield, President and CEO, will present at the 41st Annual J.P. Morgan Healthcare Conference on January 9, 2023, at 12:45 p.m. EST. The presentation can be accessed via a live audio webcast by visiting the Events & Presentations section on Avantor's website. A replay will be available for 30 days after the event. Avantor provides essential products and services for life sciences and advanced technologies across over 180 countries, serving more than 225,000 customer locations.
Avantor, a global leader in critical products for life sciences and advanced technologies, announced that Michael Stubblefield, President and CEO, will engage in a fireside chat during the Evercore ISI HealthCONx conference on November 29, 2022, at 12:10 p.m. EST. Investors can access the live audio webcast on Avantor's website. A replay will be available for 30 days post-event. Avantor serves over 225,000 customers globally and is committed to advancing research and development across various industries.
Avantor, a global leader in mission-critical products and services, has opened a new distribution center in Dublin, Ireland, spanning nearly 69,000 square feet. This advanced facility enhances supply security for the biopharma market, creating 40 jobs and complementing the company's existing 76,000 square-foot presence in Ireland. This investment aligns with Avantor's strategy to expand its global footprint to meet increasing demand for essential biopharma products. The center will offer certified cGMP warehousing, clean rooms, and inventory solutions for improved customer service.
Avantor reported net sales of $1.86 billion, up 1.2% year-over-year, with core organic growth of 7.8%. The net income increased to $167 million, while adjusted EBITDA rose 6.9% to $384 million with a margin expansion to 20.7%. The operating cash flow was $258.3 million, and free cash flow was $219.3 million. Adjusted net leverage decreased to 3.6X. The company anticipates 2.5%-3.0% organic growth for the full year and updated adjusted EPS guidance to $1.38-$1.40.
Avantor, a global provider in life sciences and advanced technologies, will release its third quarter 2022 financial results on October 28, prior to market opening. A conference call will occur at 8:00 a.m. EDT on the same day to discuss these results. The company's extensive portfolio serves over 225,000 customer locations worldwide, supporting crucial research and development activities across numerous industries.
Avantor, Inc. (NYSE: AVTR) announced that its CEO, Michael Stubblefield, will participate in a fireside chat at the Morgan Stanley 20th Annual Global Healthcare Conference in New York on September 12, 2022, at 4:15 p.m. EDT. The session will be available via a live webcast on Avantor's investor website, with a replay accessible for 90 days post-event. Avantor is a global provider of critical products and services across various industries, serving over 225,000 customers globally.
Avantor reported second-quarter 2022 results with net sales of $1.91 billion, a 2.8% increase year-over-year. Core organic net sales grew 6.4%, primarily driven by a robust 20% growth in bioproduction. Net income rose to $187.4 million, and adjusted EBITDA increased 10.2% to $404.1 million. Diluted GAAP EPS stood at $0.28, while adjusted EPS was $0.37. Operating cash flow was $227.5 million, with free cash flow at $191.2 million. The company reduced adjusted net leverage to 3.9X, aligning with its long-term target range.
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