Avantor, Inc. Files Q3 2024 10-Q Report
Ticker: AVTR · Form: 10-Q · Filed: Oct 25, 2024 · CIK: 1722482
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
Related Tickers: AVTR
TL;DR
AVTR 10-Q filed for Q3 2024. Check financials.
AI Summary
Avantor, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Key financial details and operational updates are provided for investors and stakeholders.
Why It Matters
This filing provides crucial financial performance data for Avantor, Inc. for the third quarter of 2024, allowing investors to assess the company's health and make informed decisions.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Players & Entities
- Avantor, Inc. (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- 20241025 (date) — Filing date of the report
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ending September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 25, 2024.
What is the company's standard industrial classification code?
Avantor, Inc.'s standard industrial classification code is 3826, for Laboratory Analytical Instruments.
What is the company's fiscal year end?
Avantor, Inc.'s fiscal year ends on December 31.
What is the company's business address?
Avantor, Inc.'s business address is Radnor Corporate Center, Building One, Suite 200, 100 Matsonford Road, Radnor, PA 19087.
Filing Stats: 4,484 words · 18 min read · ~15 pages · Grade level 8.8 · Accepted 2024-10-25 09:04:47
Key Financial Figures
- $0.01 — ange on which registered Common stock, $0.01 par value AVTR New York Stock Exchange
Filing Documents
- avtr-20240930.htm (10-Q) — 1487KB
- a2024q3ex311.htm (EX-31.1) — 11KB
- a2024q3ex312.htm (EX-31.2) — 11KB
- a2024q3ex321.htm (EX-32.1) — 5KB
- a2024q3ex322.htm (EX-32.2) — 5KB
- avtr-20240930_g1.jpg (GRAPHIC) — 76KB
- 0001722482-24-000163.txt ( ) — 8566KB
- avtr-20240930.xsd (EX-101.SCH) — 43KB
- avtr-20240930_cal.xml (EX-101.CAL) — 69KB
- avtr-20240930_def.xml (EX-101.DEF) — 278KB
- avtr-20240930_lab.xml (EX-101.LAB) — 633KB
- avtr-20240930_pre.xml (EX-101.PRE) — 497KB
- avtr-20240930_htm.xml (XML) — 1465KB
— 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 27
Quantitative and qualitative disclosures about market risk
Item 3. Quantitative and qualitative disclosures about market risk 39
Controls and procedures
Item 4. Controls and procedures 39
— OTHER INFORMATION
PART II — OTHER INFORMATION
Legal proceedings
Item 1. Legal proceedings 39
Risk factors
Item 1A. Risk factors 39
Unregistered sales of equity securities and use of proceeds
Item 2. Unregistered sales of equity securities and use of proceeds 39
Defaults upon senior securities
Item 3. Defaults upon senior securities 40
Mine safety disclosures
Item 4. Mine safety disclosures 40
Other information
Item 5. Other information 40
Exhibits
Item 6. Exhibits 41 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 short-term period less than a year from the reporting date 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, ob
— 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) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 285.3 $ 262.9 Accounts receivable, net of allowances of $ 32.5 and $ 35.0 1,087.7 1,150.2 Inventory 779.6 828.1 Other current assets 135.6 143.7 Assets held for sale (see note 17) 216.5 — Total current assets 2,504.7 2,384.9 Property, plant and equipment, net of accumulated depreciation and impairment charges of $ 620.9 and $ 616.9 722.8 737.5 Other intangible assets, net (see note 7) 3,522.7 3,775.3 Goodwill, net of accumulated impairment losses of $ 38.8 and $ 38.8 5,670.6 5,716.7 Other assets 419.8 358.3 Total assets $ 12,840.6 $ 12,972.7 Liabilities and stockholders' equity Current liabilities: Current portion of debt $ 229.7 $ 259.9 Accounts payable 673.5 625.9 Employee-related liabilities 183.3 133.1 Accrued interest 39.9 50.2 Other current liabilities 401.7 411.2 Liabilities held for sale (see note 17) 101.7 — Total current liabilities 1,629.8 1,480.3 Debt, net of current portion 4,691.4 5,276.7 Deferred income tax liabilities 547.3 612.8 Other liabilities 418.9 350.3 Total liabilities 7,287.4 7,720.1 Commitments and contingencies (see note 9) Stockholders' equity: Common stock including paid-in capital, 680.6 and 676.6 shares issued and outstanding 3,924.5 3,830.1 Accumulated earnings 1,702