Avantor Inc. (NYSE:AVTR) reported first-quarter results on Wednesday that came in ahead of analyst expectations, sending its shares up 9.54% in premarket trading.
The company posted adjusted earnings per share of $0.17, slightly above the consensus estimate of $0.16. Revenue totaled $1.58 billion, beating forecasts of $1.54 billion.
Despite the beat, revenue was flat compared with the first quarter of 2025, with organic sales declining 4.1% after accounting for a positive 4.1% foreign exchange impact.
“First quarter results exceeded our expectations due to improved execution in Bioscience and Medtech Products, and we saw stabilization in VWR,” said Emmanuel Ligner. “Revival is already having a positive impact, and I am encouraged by the momentum and positive energy across the organization.”
Net income fell to $43.3 million from $64.5 million in the prior-year period, while adjusted EBITDA reached $219.4 million, representing a margin of 13.9%.
Diluted GAAP earnings per share came in at $0.06, down from $0.09 a year earlier.
The VWR Distribution & Services segment reported net sales of $1.15 billion, down 0.4% on a reported basis and 4.8% organically.
Meanwhile, the Bioscience & Medtech Products segment generated $431.4 million in net sales, up 1.2% on a reported basis but down 2.0% organically.
Operating cash flow totaled $58.7 million, with free cash flow of $25.2 million. Adjusted net leverage stood at 3.3x as of March 31, 2026.
Avantor reaffirmed its full-year 2026 guidance previously issued during its fourth-quarter 2025 earnings call on February 11, 2026.