RADNOR, PA — Avantor Inc. (NYSE: AVTR) reported fourth-quarter net income of $52 million and a full-year net loss of $530 million for 2025 as the company works to implement a turnaround initiative known as the Revival program, the company announced.
For the quarter ended December 31, 2025, net sales were $1.66 billion, down 1.4% from the fourth quarter of 2024. Organic sales declined 4.1%, reflecting a 3.1% positive impact from foreign currency translation and a 0.4% negative impact from M&A activity.
Diluted earnings per share on a GAAP basis were $0.08, while adjusted EPS was $0.22. Adjusted EBITDA totaled $252 million, with a margin of 15.2%.
Operating cash flow for the quarter was $153 million, and free cash flow was $117 million.
For the full year ended December 31, 2025, net sales were $6.55 billion, down 3.4% from 2024. Organic sales declined 2.8%, reflecting a 1.6% positive currency impact and a 2.2% negative impact from M&A.
The company reported a net loss of $530 million for the year, compared with net income of $712 million in 2024. Diluted loss per share was $0.78 on a GAAP basis, while adjusted EPS was $0.90.
Adjusted EBITDA for the year was $1.07 billion, with a margin of 16.3%. Operating cash flow was $624 million, and free cash flow was $496 million. Adjusted net leverage was 3.2x as of December 31, 2025.
In the fourth quarter, Laboratory Solutions segment sales were $1.12 billion, down 0.9% year over year, with a 4.1% organic decline. Bioscience Production segment sales were $548 million, down 2.4%, with a 4.1% organic decline.
For the full year, Laboratory Solutions sales were $4.40 billion, down 4.6%, while Bioscience Production sales were $2.15 billion, down 1.0%.
“Through the Revival program we initiated last quarter, we are building a more agile company that is better organized around the needs of our customers. The entire team is energized around a clear set of strategic priorities, and we have already made important changes to how we run the business, including optimizing our go-to-market strategy, relaunching the VWR brand, implementing critical improvements, and upgrading our e-commerce channel,” President and Chief Executive Officer Emmanuel Ligner said in a statement.
“We are moving with urgency to execute Revival and turn around the performance of this great business. 2026 will be a year of transition and purposeful investment, and our priority is driving top line growth by competing vigorously in the marketplace and strengthening our company. We are confident that the steps we are taking this year will position Avantor for sustainable shareholder value creation,” Ligner said.
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