RADNOR, PA — Avantor, Inc. (NYSE: AVTR) reported first-quarter 2026 net income of $43.3 million, down from $64.5 million a year earlier, while reaffirming its full-year guidance.
Net sales for the quarter ended March 31 were $1.58 billion, essentially unchanged from the first quarter of 2025. Foreign currency translation contributed a positive 4.1% impact, while organic sales declined 4.1%.
Diluted earnings per share were $0.06 on a GAAP basis, compared with adjusted diluted earnings per share of $0.17.
Adjusted EBITDA totaled $219.4 million, with an adjusted EBITDA margin of 13.9%.
Operating cash flow was $58.7 million, while free cash flow totaled $25.2 million.
“First quarter results exceeded our expectations due to improved execution in Bioscience and Medtech Products, and we saw stabilization in VWR,” Chief Executive Officer Emmanuel Ligner said.
Within the company’s VWR Distribution & Services segment, sales declined 0.4% to $1.15 billion. Organic sales in the segment fell 4.8%.
Adjusted operating income for the segment declined to $105.4 million from $147.9 million a year earlier.
Bioscience & Medtech Products sales increased 1.2% to $431.4 million, though organic sales declined 2%.
Adjusted operating income in that segment fell to $102.7 million from $114.5 million in the prior-year period.
Avantor reaffirmed the fiscal 2026 guidance issued during its February earnings call.
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