Avantor, Inc. (AVTR), a provider of products and services to customers in the life sciences and technology industries, on Wednesday reported a net loss for the third quarter, mainly due to a non-cash goodwill impairment charge. In addition, the company's results missed Street view.
For the three-month period to September 30, Avantor recorded a net loss of $711.8 million, or $1.04 per share, compared with a net income of $57.8 million, or $0.08 per share, in the same period last year.
Excluding items, earnings slipped to $151.1 million, or $0.22 per share, from $175.2 million, or $0.26 per share, in 2024. On average, the 18 analysts polled were expecting the firm to earn $0.23 per share for the quarter. Analysts' estimates typically exclude special items.
Operating loss stood at $648.8 million as against the prior year's profit of $124.6 million. Impairment charges were $785 million, compared with $000 million a year ago.
Sales moved down to $1.623 billion from $1.714 billion in the previous year. Analysts, on average, had projected the company to post revenue of $1.65 billion for the quarter.
AVTR was down by 17.05% at $12.50 in the pre-market trade on the New York Stock Exchange.
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