Avantor, Inc. Files 10-Q for Q2 2024
Ticker: AVTR · Form: 10-Q · Filed: Jul 26, 2024 · CIK: 1722482
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Avantor's Q2 2024 10-Q is in. Check financials.
AI Summary
Avantor, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position. Key financial data points and operational segments are presented, reflecting the company's activities in the laboratory and analytical instruments sector.
Why It Matters
This filing provides investors and analysts with a detailed look at Avantor's financial health and operational performance during the second quarter of 2024, influencing investment decisions.
Risk Assessment
Risk Level: medium — Quarterly reports like this 10-Q can reveal significant financial shifts or operational challenges that may impact a company's stock price.
Key Numbers
- 2024 Q2 — Reporting Period (Second quarter of 2024)
- 12-31 — Fiscal Year End (Company's fiscal year concludes on December 31st)
Key Players & Entities
- Avantor, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240726 (date) — Filing date
- Radnor, PA (location) — Company headquarters
FAQ
What is the primary business of Avantor, Inc. according to the SIC code?
Avantor, Inc. is classified under SIC code 3826, which pertains to Laboratory Analytical Instruments.
What is the filing date of this 10-Q report?
This 10-Q report was filed on July 26, 2024.
What is the period covered by this 10-Q filing?
The report covers the fiscal period ending June 30, 2024.
What was Avantor, Inc.'s former company name before February 6, 2019?
Avantor, Inc. was formerly known as Vail Holdco Corp before February 6, 2019.
Where is Avantor, Inc. headquartered?
Avantor, Inc. is headquartered at Radnor Corporate Center, Building One, Suite 200, 100 Matsonford Road, Radnor, PA 19087.
Filing Stats: 4,526 words · 18 min read · ~15 pages · Grade level 8.6 · Accepted 2024-07-26 09:02:55
Key Financial Figures
- $0.01 — ange on which registered Common stock, $0.01 par value AVTR New York Stock Exchange
Filing Documents
- avtr-20240630.htm (10-Q) — 1415KB
- a2024q2ex311.htm (EX-31.1) — 11KB
- a2024q2ex312.htm (EX-31.2) — 11KB
- a2024q2ex321.htm (EX-32.1) — 5KB
- a2024q2ex322.htm (EX-32.2) — 5KB
- avtr-20240630_g1.jpg (GRAPHIC) — 76KB
- 0001722482-24-000145.txt ( ) — 8022KB
- avtr-20240630.xsd (EX-101.SCH) — 41KB
- avtr-20240630_cal.xml (EX-101.CAL) — 66KB
- avtr-20240630_def.xml (EX-101.DEF) — 254KB
- avtr-20240630_lab.xml (EX-101.LAB) — 605KB
- avtr-20240630_pre.xml (EX-101.PRE) — 467KB
- avtr-20240630_htm.xml (XML) — 1329KB
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
Financial statements
Item 1. Financial statements 1
Management's discussion and analysis of financial condition and results of operations
Item 2. Management's discussion and analysis of financial condition and results of operations 26
Quantitative and qualitative disclosures about market risk
Item 3. Quantitative and qualitative disclosures about market risk 38
Controls and procedures
Item 4. Controls and procedures 38
— OTHER INFORMATION
PART II — OTHER INFORMATION
Legal proceedings
Item 1. Legal proceedings 38
Risk factors
Item 1A. Risk factors 38
Unregistered sales of equity securities and use of proceeds
Item 2. Unregistered sales of equity securities and use of proceeds 38
Defaults upon senior securities
Item 3. Defaults upon senior securities 39
Mine safety disclosures
Item 4. Mine safety disclosures 39
Other information
Item 5. Other information 39
Exhibits
Item 6. Exhibits 40 Signature 42 i Table of contents Glossary Description the Company, we, us, our Avantor, Inc. and its subsidiaries Adjusted EBITDA our earnings or loss before interest, taxes, depreciation, amortization and certain other adjustments Adjusted Operating Income our earnings or loss before interest, taxes, amortization and certain other adjustments Annual Report our annual report on Form 10-K for the year ended December 31, 2023 AOCI accumulated other comprehensive income or loss EURIBOR the basic rate of interest used in lending between banks on the European Union interbank market FASB the Financial Accounting Standards Board of the United States GAAP United States generally accepted accounting principles long-term period other than short-term OCI other comprehensive income or loss Ritter Ritter GmbH and affiliates, a company we acquired in June 2021 RSU restricted stock units represent awards that will vest annually and awards that contain performance and market conditions SEC the United States Securities and Exchange Commission SG&A expenses selling, general and administrative expenses SOFR secured overnight financing rate VWR VWR Corporation and its subsidiaries, a company we acquired in November 2017 ii Table of contents Cautionary factors regarding forward-looking statements This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this report are forward-looking statements. Forward-looking statements discuss our current expectations and projections relating to our financial condition, results of operations, plans, including our cost transformation initiative, objectives, future performance and business. These statements
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
Financial statements
Item 1. Financial statements Avantor, Inc. and subsidiaries Index to unaudited condensed consolidated financial statements Page Unaudited condensed consolidated balance sheets 2 Unaudited condensed consolidated statements of operations 3 Unaudited condensed consolidated statements of comprehensive income or loss 4 Unaudited condensed consolidated statements of stockholders' equity 5 Unaudited condensed consolidated statements of cash flows 7 Notes to unaudited condensed consolidated financial statements 8 1 Table of contents Avantor, Inc. and subsidiaries Unaudited condensed consolidated balance sheets (in millions) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 272.6 $ 262.9 Accounts receivable, net of allowances of $ 34.6 and $ 35.0 1,129.0 1,150.2 Inventory 795.6 828.1 Other current assets 132.0 143.7 Total current assets 2,329.2 2,384.9 Property, plant and equipment, net of accumulated depreciation and impairment charges of $ 656.7 and $ 616.9 753.8 737.5 Other intangible assets, net (see note 7) 3,582.8 3,775.3 Goodwill, net of accumulated impairment losses of $ 38.8 and $ 38.8 5,659.6 5,716.7 Other assets 368.1 358.3 Total assets $ 12,693.5 $ 12,972.7 Liabilities and stockholders' equity Current liabilities: Current portion of debt $ 258.4 $ 259.9 Accounts payable 657.4 625.9 Employee-related liabilities 146.1 133.1 Accrued interest 49.9 50.2 Other current liabilities 352.8 411.2 Total current liabilities 1,464.6 1,480.3 Debt, net of current portion 4,856.6 5,276.7 Deferred income tax liabilities 575.4 612.8 Other liabilities 361.9 350.3 Total liabilities 7,258.5 7,720.1 Commitments and contingencies (see note 8) Stockholders' equity: Common stock including paid-in capital, 679.6 and 676.6 shares issued and outstanding 3,897.5 3,830.1 Accumulated earnings 1,644.8 1,491.5 Accumulated other comprehensive loss ( 107.3 ) ( 69.0 ) Total stockholders' equity 5,4