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Avantor Q2 profit climbs 59.9% YOY

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Avantor Q2 profit climbs 59.9% YOY

Avantor Inc. said its adjusted net income for the second quarter totaled $91.6 million, up 59.9% from $57.3 million in the prior-year period.

EPS came to 14 cents, a 55.6% yearly increase from 9 cents.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter is 17 cents.

The Radnor, Pa.-based manufacturer of laboratory equipment and chemicals booked net sales of $1.53 billion, a 3.4% year-over-year growth from $1.48 billion.

On a GAAP basis, the net loss amounted to $48.7 million, or a loss of 98 cents per share, compared with a loss of $26.9 million, or a loss of 70 cents per share, in the year-ago quarter.

Avantor, which completed its $3.33 billion IPO in May, forecasts adjusted EPS in the range of 55 cents to 58 cents for the full year. The company expects net sales to grow by 3.7% to 4.7%, at $6.08 billion to $6.14 billion.

The S&P Global Market Intelligence consensus normalized EPS estimate for the full year is 66 cents.