Avantor | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 1.692 B

Revenue: As of FY2026 Q2, the actual value is USD 1.692 B, beating the estimate of USD 1.611 B.

EPS: As of FY2026 Q2, the actual value is USD 0.06, missing the estimate of USD 0.085.

EBIT: As of FY2026 Q2, the actual value is USD 161.2 M.

Overall Performance

Avantor, Inc. reported net sales of $1,692.3 million for the three months ended June 30, 2026, representing a 0.5% increase compared to the second quarter of 2025; however, organic net sales declined by 0.4%. Net income decreased to $38.1 million from $64.7 million in the prior-year period, resulting in a net income margin of 2.3%. Adjusted EBITDA was $254.3 million, with an adjusted EBITDA margin of 15.0%. Operating income stood at $121.8 million, with an operating income margin of 7.2%, while adjusted operating income was $225.1 million, achieving an adjusted operating income margin of 13.3%.

Segment Revenue

• VWR Distribution & Services: Net sales for this segment were $1,240.5 million, a reported increase of 2.7% from $1,207.5 million in the second quarter of 2025, with organic sales increasing by 1.7%.
• Bioscience & Medtech Products: This segment recorded net sales of $451.8 million, a reported decrease of 5.1% from $475.9 million in the second quarter of 2025, and organically, sales declined by 5.6%.

Segment Operating Income

• VWR Distribution & Services: Adjusted Operating Income for the segment was $126.4 million, compared to $141.6 million in the comparable prior period, with an Adjusted Operating Income margin of 10.2%.
• Bioscience & Medtech Products: Adjusted Operating Income was $117.6 million, compared to $131.4 million in the comparable prior period, with an Adjusted Operating Income margin of 26.0%.

Cash Flow and Balance Sheet

Operating cash flow for the three months ended June 30, 2026, was $178.2 million, an increase from $154.4 million in the second quarter of 2025. Free cash flow was $142.8 million, up from $125.4 million in the same period last year. Avantor, Inc. repaid $112.1 million of debt during the quarter. As of June 30, 2026, total gross debt was $3,715.4 million, and cash and cash equivalents totaled $306.8 million. GAAP net leverage was -5.9x, and adjusted net leverage was 3.3x as of the same date.

Fiscal Year 2026 Guidance

Avantor, Inc. has updated its fiscal 2026 financial guidance, increasing its organic revenue growth outlook to -0.5% to +0.5% from the previous range of -2.5% to -0.5%. The company also raised its adjusted EPS guidance to $0.80 to $0.83, up from $0.77 to $0.83 previously. The guidance for Adjusted EBITDA margin remains at 14.8% to 15.3%, and free cash flow guidance is maintained at $500 million to $550 million.