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NEW YORK - Avantor, Inc. (NYSE:AVTR), a provider of mission-critical products and services to life sciences and advanced technology industries, reported fourth-quarter 2024 results on Friday that beat earnings expectations but fell short on revenue.
The company reported adjusted earnings per share of $0.27, surpassing the analyst estimate of $0.26. However, revenue for the quarter came in at $1.69 billion, missing the consensus estimate of $1.71 billion and representing a 2% decrease YoY. Organic growth for the quarter was 1%.
Michael Stubblefield, President and CEO of Avantor, stated, "Our fourth quarter results highlight our team’s commitment to commercial intensity, operational discipline, and enabling breakthrough therapies.
As anticipated, we returned to growth in the fourth quarter and delivered sequential and year-over-year growth in adjusted EBITDA margin, adjusted EPS, and best-in-class free cash flow conversion."
The company’s bioprocessing platform grew high-single-digits, with expectations of continued strength driven by focused execution and improving end market conditions.
For the full year 2024, Avantor reported net sales of $6.78 billion, a 3% decrease compared to 2023, with an organic decline of 2%. The company’s adjusted EBITDA for the year was $1,198.8 million, with an adjusted EBITDA margin of 17.7%.
Looking ahead, Stubblefield expressed confidence in achieving both near-term and long-term financial goals, citing the company’s industry-leading portfolio, resilient supply chain, and focus on efficiency.
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