Jun 2026 (Q2 FY26) — Jul 29, 2026
Avantor Q2 FY26 — VWR Returns to Growth, Raised Full-Year Guidance
Read the full callAvantor (AVTR) earnings
- Mar 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Avantor earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,581 | 0.0% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 6.3 | −3.0 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 43.3 | −32.9% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
29 of 39 judged targets kept · 35 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted EPS | $0.19 to $0.20 | Mar 2026 | Adjusted earnings per share was $0.21, above our expectations for the quarter. | Achieved |
| Adjusted EPS | $0.77 to $0.83 | Dec 2025 | Taken together, this translates to an adjusted EPS outlook that has been raised to $0.80 to $0.83 for 2026. | Revised Up |
| Adjusted EPS | $0.20 to $0.21 | Jun 2026 | in Q3, we expect to generate adjusted EPS between $0.20 and $0.21 per share. | New |
10 of Avantor, Inc.'s 74 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 71 more targets are in the full ledger.
Claimed
- VWR Distribution & Service segment returned to positive organic revenue growth of 1.7% in Q2 FY26, ahead of expectations.
- Adjusted EBITDA grew over 15% sequentially from Q1, driven by increased volumes.
- Generated strong free cash flow of $152 million (excluding restructuring costs) in Q2 FY26, used to repay $112 million of debt.
- Raised full-year 2026 organic revenue growth guidance to -0.5% to +0.5% and adjusted EPS guidance to $0.80-$0.83.
- BMP segment delivered double-digit order growth and a book-to-bill ratio of 1.1x in Q2 FY26, indicating future growth.
Qualified
- BMP revenue declined 5.6% organically in Q2 FY26, impacted by discrete factors and difficult comparisons.
- VWR's adjusted operating margin declined year-over-year due to mix and inflationary pressures.
- Foreign exchange is expected to be a headwind of about 50 basis points to full-year revenue and 125 basis points to Q3 reported revenue.
- Activity levels in end markets like education and certain European geographies remain stable but at lower levels than desired.
- BMP faces a headwind of about 150 basis points to organic growth in Q3 FY26 from discrete customer ordering patterns and shipments.
Price
$16.29 −0.79% · −$0.13
Performance +10.2% 1Y
1Y: $14.78 on 17 Oct 2025 → $16.29. High $16.42 (16 Oct 2026), low $7.41 (27 Mar 2026).
- Previous close
- $16.42
- 52-week range
- $7.41 – $16.42
- One year
- +7.31%
Overview
- Symbol
- AVTR
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
29 of 39 judged targets kept · 35 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted EPS | $0.19 to $0.20 | Mar 2026 | Adjusted earnings per share was $0.21, above our expectations for the quarter. | Achieved |
| Adjusted EPS | $0.77 to $0.83 | Dec 2025 | Taken together, this translates to an adjusted EPS outlook that has been raised to $0.80 to $0.83 for 2026. | Revised Up |
| Adjusted EPS | $0.20 to $0.21 | Jun 2026 | in Q3, we expect to generate adjusted EPS between $0.20 and $0.21 per share. | New |
Claimed
- VWR Distribution & Service segment returned to positive organic revenue growth of 1.7% in Q2 FY26, ahead of expectations.
- Adjusted EBITDA grew over 15% sequentially from Q1, driven by increased volumes.
- Generated strong free cash flow of $152 million (excluding restructuring costs) in Q2 FY26, used to repay $112 million of debt.
- Raised full-year 2026 organic revenue growth guidance to -0.5% to +0.5% and adjusted EPS guidance to $0.80-$0.83.
- BMP segment delivered double-digit order growth and a book-to-bill ratio of 1.1x in Q2 FY26, indicating future growth.
Qualified
- BMP revenue declined 5.6% organically in Q2 FY26, impacted by discrete factors and difficult comparisons.
- VWR's adjusted operating margin declined year-over-year due to mix and inflationary pressures.
- Foreign exchange is expected to be a headwind of about 50 basis points to full-year revenue and 125 basis points to Q3 reported revenue.
- Activity levels in end markets like education and certain European geographies remain stable but at lower levels than desired.
- BMP faces a headwind of about 150 basis points to organic growth in Q3 FY26 from discrete customer ordering patterns and shipments.
The full ledger
Open Avantor, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 74 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
Avantor Q1 FY26 — Revival Program Drives Operational Stability and Reaffirmed Full-Year Guidance
Read the full callEvery analysed call
Avantor earnings calls (AVTR)
Financials
What the filings say
Net profit, year on year: −33% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,703 | 1,714 | 1,687 | 1,581 | 1,683 | 1,624 | 1,664 | 1,581 |
| Operating profit | 176 | 125 | 638 | 147 | 129 | -649 | 126 | 100 |
| Operating margin | 10.3% | 7.3% | 37.8% | 9.3% | 7.7% | −40.0% | 7.6% | 6.3% |
| Interest | 61 | 49 | 45 | 42 | 43 | 44 | 40 | 43 |
| Profit before tax | 115 | 75 | 584 | 86 | 82 | -689 | 81 | 56 |
| Tax rate | 18.9% | 22.4% | 14.3% | 24.7% | 20.8% | −3.2% | 35.1% | 22.0% |
| Net profit | 93 | 58 | 500 | 65 | 65 | -712 | 52 | 43 |
| EPS ($ per share) | 0.14 | 0.08 | — | 0.09 | 0.09 | -1.04 | — | 0.06 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | -2,747 | 1,748 | 1,738 | 2,753 | 3,785 | 3,830 | 3,938 | 3,985 |
| Reserves | -238 | -204 | -89 | 484 | 1,170 | 1,492 | 2,203 | 1,673 |
| Total liabilities | 9,104 | 7,311 | 7,232 | 9,700 | 8,609 | 7,720 | 6,158 | 6,230 |
| Fixed assets | 599 | 557 | 550 | 706 | 727 | 738 | 708 | 767 |
| Total assets | 9,912 | 9,773 | 9,907 | 13,897 | 13,464 | 12,973 | 12,115 | 11,795 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 201 | 354 | 930 | 954 | 844 | 870 | 841 | 624 |
| Cash from investing | -23 | -42 | -59 | -4,122 | -110 | -144 | 439 | -130 |
| Cash from financing | -170 | -308 | -783 | 3,219 | -649 | -844 | -1,281 | -409 |
| Net cash flow | -1 | 2 | 100 | 38 | 70 | -109 | -23 | 104 |
| Capital expenditure | -38 | -52 | -62 | -111 | -133 | -146 | -149 | -129 |
| Free cash flow | 163 | 302 | 868 | 843 | 710 | 724 | 692 | 495 |
AVTR revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| VWR Distribution Services | — | — | — | — | — | — | 73% | 73% | — |
| Bioscience Medtech Products | — | — | — | — | — | — | 27% | 27% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
48 filings between Oct 30, 2025 and Sep 21, 2026.
Open market
decisions to buy or sellPurchases
$8.69M
8 purchases by 5 insiders
Sales
None
No insider sold shares.
Compensation
not trading decisions- 22
- Award — granted as compensation
- 18
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| MEHRA SANJEEV K | $4.88M | — | Mar 10, 2026 |
| SUMME GREGORY L | $2.06M | — | Feb 12, 2026 |
| Ligner Emmanuel | $993.1K | — | Nov 17, 2025 |
| LUCIER GREGORY T | $541.2K | — | May 8, 2026 |
| Dingemans Simon | $203.5K | — | May 1, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 21, 2026 | Garner Todd W EVP and CFO | Award | 49,688 | $0 |
| Aug 18, 2026 | Ligner Emmanuel President and CEO | Tax withheld | 29,803 | $397.3K |
| Aug 14, 2026 | Hankamer Brittany EVP, Chief HR Officer | Tax withheld | 181 | $2.5K |
| Jul 31, 2026 | Eck Steven W SVP & Chief Accounting Officer | Tax withheld | 1,385 | $19.1K |
| Jul 24, 2026 | Sokenu Claudius EVP, Chief Legal & Compliance | Tax withheld | 1,201 | $13.7K |
| Jun 21, 2026 | Walker Corey President, VWR Dist. & Servs. | Tax withheld | 3,010 | $28.8K |
| May 8, 2026 | LUCIER GREGORY T Director | Purchase | 10,000 | $83.2K |
| May 7, 2026 | SEVERINO MICHAEL Director | Award | 25,270 | $0 |
| May 7, 2026 | SUMME GREGORY L Director | Award | 25,270 | $0 |
| May 7, 2026 | Dingemans Simon Director | Award | 25,270 | $0 |
| May 7, 2026 | LUCIER GREGORY T Director | Award | 25,270 | $0 |
| May 7, 2026 | Massaro Joseph R Director | Award | 25,270 | $0 |
| May 7, 2026 | Makin Louise Director | Award | 25,270 | $0 |
| May 7, 2026 | Murthy Mala Director | Award | 25,270 | $0 |
| May 7, 2026 | MEHRA SANJEEV K Director | Award | 25,270 | $0 |
| May 1, 2026 | Dingemans Simon Director | Purchase | 25,000 | $203.5K |
| May 1, 2026 | Brellier Ludovic EVP, Bioscience & Medtech | Award | 146,566 | $0 |
| Apr 3, 2026 | Eck Steven W SVP & Chief Accounting Officer | Award | 31,645 | $0 |
| Mar 10, 2026 | MEHRA SANJEEV K Director | Purchase | 125,000 | $1.00M |
| Feb 24, 2026 | Hankamer Brittany EVP, Chief HR Officer | Tax withheld | 359 | $3.3K |
| Feb 24, 2026 | Eck Steven W SVP & Chief Accounting Officer | Tax withheld | 452 | $4.1K |
| Feb 23, 2026 | Sokenu Claudius EVP, Chief Legal & Compliance | Tax withheld | 2,376 | $21.1K |
| Feb 23, 2026 | Eck Steven W SVP & Chief Accounting Officer | Tax withheld | 2,017 | $17.9K |
| Feb 23, 2026 | Hankamer Brittany EVP, Chief HR Officer | Tax withheld | 1,324 | $11.8K |
| Feb 23, 2026 | Jones R. Brent EVP, Chief Financial Officer | Tax withheld | 2,805 | $24.9K |
| Feb 23, 2026 | Gourdier Benoit EVP, Bioscience & Medtech | Tax withheld | 3,029 | $26.9K |
| Feb 20, 2026 | Sokenu Claudius EVP, Chief Legal & Compliance | Tax withheld | 2,919 | $26.4K |
| Feb 20, 2026 | Jones R. Brent EVP, Chief Financial Officer | Tax withheld | 9,506 | $85.8K |
| Feb 20, 2026 | Gourdier Benoit EVP, Bioscience & Medtech | Tax withheld | 4,160 | $37.6K |
| Feb 20, 2026 | Hankamer Brittany EVP, Chief HR Officer | Tax withheld | 1,453 | $13.1K |
| Feb 20, 2026 | Eck Steven W SVP & Chief Accounting Officer | Tax withheld | 2,125 | $19.2K |
| Feb 20, 2026 | Walker Corey President, VWR Dist. & Servs. | Tax withheld | 4,963 | $44.8K |
| Feb 19, 2026 | Sokenu Claudius EVP, Chief Legal & Compliance | Award | 80,618 | $0 |
| Feb 19, 2026 | Gourdier Benoit EVP, Bioscience & Medtech | Award | 134,364 | $0 |
| Feb 19, 2026 | Walker Corey President, VWR Dist. & Servs. | Award | 161,237 | $0 |
| Feb 19, 2026 | Jones R. Brent EVP, Chief Financial Officer | Award | 161,237 | $0 |
| Feb 19, 2026 | Hankamer Brittany EVP, Chief HR Officer | Award | 80,618 | $0 |
| Feb 19, 2026 | LUCIER GREGORY T Director | Purchase | 50,000 | $458.0K |
| Feb 19, 2026 | Blenn Mary EVP, Chief Operating Officer | Award | 235,993 | $0 |
| Feb 19, 2026 | Eck Steven W SVP & Chief Accounting Officer | Award | 48,859 | $0 |
| Feb 19, 2026 | Ligner Emmanuel President and CEO | Award | 483,713 | $0 |
| Feb 12, 2026 | SUMME GREGORY L Director | Purchase | 100,000 | $940.0K |
| Jan 2, 2026 | Dingemans Simon Director | Award | 6,225 | $0 |
| Dec 5, 2025 | MEHRA SANJEEV K Director | Purchase | 350,000 | $3.88M |
| Dec 5, 2025 | MEHRA SANJEEV K Director | Award | 8,106 | $0 |
| Nov 17, 2025 | Ligner Emmanuel President and CEO | Purchase | 87,500 | $993.1K |
| Nov 10, 2025 | Blenn Mary EVP, Chief Operating Officer | Award | 17,391 | $0 |
| Oct 30, 2025 | SUMME GREGORY L Director | Purchase | 100,000 | $1.13M |
| Oct 3, 2025 | LUCIER GREGORY T Director | Award | 8,736 | $0 |
| Oct 2, 2025 | Gourdier Benoit EVP, Bioscience Production | Tax withheld | 1,264 | $17.4K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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