Welcome to our dedicated page for Avantor news (Ticker: AVTR), a resource for investors and traders seeking the latest updates and insights on Avantor stock.
Avantor, Inc. reports developments as a life science tools company supplying mission-critical products and services to life sciences and advanced technology customers through its VWR Distribution & Services and Bioscience & Medtech Products businesses. Recurring updates cover earnings, cash flow, leverage, guidance, segment performance and the company’s Revival transformation program, including VWR brand activity, manufacturing and supply-chain improvements and e-commerce upgrades.
Company news also covers portfolio and infrastructure actions such as Masterflex fluid handling systems, single-use assemblies, peristaltic pumps, J.T. Baker high-purity process chemicals, and expanded microbial and stability testing capabilities for regulated biopharma manufacturing. Governance and management updates include finance leadership changes and appointments tied to bioscience, medtech products and enterprise transformation.
Avantor, a leading global provider in life sciences and advanced technologies, has announced a quarterly cash dividend of $0.78 per share for its 6.250% Series A Mandatory Convertible Preferred Stock. This equates to a yield of 1.560% and will be payable on November 15, 2020, to shareholders recorded by November 1, 2020. This decision reflects Avantor's commitment to providing returns to its stakeholders while maintaining a strong position within the industry.
Avantor (NYSE: AVTR) announced that its General Counsel, Justin Miller, has been honored as a 'Legend In Law' by The Burton Awards Program, recognizing his outstanding legal achievements. He is one of 13 honorees this year, acknowledged for his exceptional reputation and contributions to the legal profession. Miller's career highlights include a significant federal case win at age 26 and leading Avantor's initial public offering in May 2019. The awards celebrate leaders who tackle complex legal challenges on a national and global scale.
Avantor, a global provider of mission-critical products and services, is set to release its third quarter 2020 financial results on October 28, 2020, after market close. A conference call will take place at 5:00 p.m. EDT the same day to discuss the results. Investors can join the call by dialing (866) 211-4132 domestically or (647) 689-6615 internationally, using access code 3557106. The earnings press release and related slides will be available on their website. A replay will be accessible until November 12, 2020.
Avantor has appointed Frederic Vanderhaegen as Executive Vice President for the Americas and Europe, effective immediately. He expands his role to include the Americas, enhancing the company's focus on customer research and development. This strategic move aims to improve customer service and innovation in the company’s offerings. Vanderhaegen, who joined Avantor in 2018, brings extensive leadership experience in the life sciences sector.
Avantor, a global leader in mission-critical products and services, will participate in the Morgan Stanley Virtual Healthcare Conference on September 16, 2020. CEO Michael Stubblefield is scheduled to present at 8:45 a.m. ET. Investors can access a live webcast through Avantor's investor relations page, which will remain available for replay until September 30, 2020. Avantor serves over 225,000 customers across various sectors, including biopharma and healthcare.
Avantor, a leading global provider of critical products and services, will participate in the 2020 Wells Fargo Virtual Healthcare Conference on September 10, 2020. President and CEO Michael Stubblefield will represent the company at approximately 10:00 a.m. Eastern Time. A live webcast will be available through Avantor's investor relations section and can be replayed until September 24, 2020. Avantor serves over 225,000 customer locations globally, supporting the biopharma, healthcare, education, and technology sectors.
Avantor, Inc. (NYSE: AVTR) announced the pricing of an upsized secondary offering by certain stockholders, including New Mountain Capital. A total of 55,555,555 shares of common stock will be sold for gross proceeds of approximately $1.1 billion. This is an increase from the originally proposed 38,500,000 shares. The offering will close on August 21, 2020, pending customary conditions. The underwriters have an option to purchase an additional 8,333,333 shares. The company itself is not selling any shares and will not receive any proceeds from this offering.
Avantor, Inc. (NYSE: AVTR) announced an underwritten secondary offering of 38,500,000 shares of common stock by certain stockholders, including an affiliate of New Mountain Capital. The underwriters, Goldman Sachs & Co. LLC and J.P. Morgan, may acquire an additional 5,775,000 shares. The proceeds will go entirely to the selling stockholders, as no shares are being sold by the company itself. A registration statement with the SEC has been filed and is effective. The offering will be conducted via a prospectus supplement.
Avantor (NYSE: AVTR) announced an upgrade of its long-term issuer default rating (IDR) to 'BB-' with a Positive Outlook by S&P Global Ratings as of August 10, 2020. This upgrade reflects Avantor's robust business model and cash generation capacity, underscoring the company's strong market position in life sciences and advanced technologies. The firm's Executive Vice President and CFO, Thomas Szlosek, expressed confidence in the ongoing deleveraging of the balance sheet. The upgrade represents a significant step in enhancing Avantor's credit standing in the market.
Avantor, a global provider of critical products in life sciences, reported Q2 2020 results showing net sales of $1.48 billion, a 3.5% decline year-over-year. Adjusted EBITDA grew to $273 million, marking a 2% increase. Net income rose to $60.2 million, a turnaround from a loss in the prior year. The company refinanced $2 billion in unsecured notes, reducing annual interest expenses by over $90 million. Despite challenges from COVID-19, Avantor reports resilience with positive cash flow generation of $316.2 million in H1 2020, a 641% increase from the prior year.