Avantor : 2026 Q1 Earnings Supplemental
AVTR
Published on 04/29/2026 at 09:20 am EDT
Supplemental disclosures and non-GAAP reconciliations
April 29, 2026
To evaluate our performance, we monitor a numbers of key indicators. As appropriate, we supplement our results of operations determined in accordance with U.S. generally accepted accounting principles ("GAAP") with certain non-GAAP financial measures that we believe are useful to investors, creditors and others in assessing our performance. These measures should not be considered in isolation or as a substitute for reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly titled measures reported by other companies. Rather, these measures should be considered as an additional way of viewing aspects of our operations that provide a more complete understanding of our business. We strongly encourage investors to review our consolidated financial statements included in reports filed with the SEC in their entirety and not rely solely on any one single financial measure or communication.
The non-GAAP financial measures used in our earning presentation and in this supplemental disclosure package are sales growth (decline) on an organic basis, Adjusted Operating Income, Adjusted Operating Income margin, Adjusted EBITDA, Adjusted EBITDA margin, adjusted net income, adjusted EPS, adjusted net leverage, free cash flow and free cash flow conversion.
Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in this supplemental disclosures package.
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2
3
4
5
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8
9
10
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Consolidated growth and profitability measures (annual) Adjusted EPS (annual)
Adjusted net leverage and free cash flow (annual) Consolidated growth and profitability measures (quarterly) Adjusted EPS (quarterly)
Adjusted net leverage and free cash flow (quarterly) Segment growth and profitability measures (annual) Segment growth and profitability measures (quarterly) Consolidated adjusted P&L (annual)
Consolidated adjusted P&L (quarterly) Organic growth trend (quarterly)
1a
USD in millions
1b
USD in millions
2
USD and shares in millions except EPS
3
USD in millions
4a
USD in millions
Note: The Impact of adjustments to the GAAP P&L is reflected in schedule #10a and #10b; Footnotes related to these adjustments are included at the end of this document.
4b
USD in millions
5
USD and shares in millions except EPS
6
USD in millions
^ TTM Adjusted EBITDA for 1Q25, 2Q25 and Q325 represents the Adjusted EBITDA of Avantor for the trailing twelve-month period minus the results attributable to
7
USD in millions
8
USD in millions
9
USD and shares in millions except EPS
Note: The above schedule reflects the P&L impact of non-GAAP adjustments detailed in schedules #1a, #1b, and #2, where Adjusted Operating Income, Adjusted EBITDA, and adjusted EPS are reconciled to their nearest GAAP measures. Definitions of non-GAAP measures detailed on page #2. Footnotes related to these adjustments are included at the end of this document.
"NP" = Not presented
10a
USD and shares in millions except EPS
10b
USD and shares in millions except EPS
11
USD in millions
Note: LSD 1-3% / MSD 4-6% / HSD 7-9% / DD >10%. All growth rates represent organic growth. Low Single-Digit ("LSD"), Mid Single-Digit ("MSD"), High Single-Digit ("HSD"), Double-Digit ("DD").
Organic net sales growth (decline) eliminates from our reported net sales change the impacts of revenues from
Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in this supplemental disclosures package.
Note the following footnotes are applicable on page 4 through page 17. Also note that subtotals throughout the package may not tie due to rounding.
Reflects the incremental expenses incurred in the period related to restructuring initiatives to increase profitability and productivity. Costs included in this caption are specific to employee severance, site-related exit costs, and contract termination costs.
Represents incremental expenses directly associated with the Company's former cost transformation initiative, which concluded in 2025. These expenses are primarily related to the cost of external advisors.
Represents charges and legal costs, net of recoveries, incurred in connection with certain litigation and other contingencies that management evaluates separately from core operating performance.
Represents other stock-based compensation expense (benefit), severance and transition costs associated with the replacement of our Chief Executive Officer in 2025 and a purchase price adjustment in 2025 related to the sale of our Clinical Services business in 2024.
Represents net foreign currency (gain) loss from financing activities, other stock-based compensation expense (benefit), severance and transition costs associated with the replacement of our Chief Executive Officer in 2025 and a purchase price adjustment in 2025 related to the sale of our Clinical Services business in 2024.
Relates to the goodwill impairment of our Distribution reporting unit in 2025.
Represents a purchase price adjustment in 2025 related to the sale of our Clinical Services business in 2024.
Represents pension termination charges related to termination of our U.S. Pension Plan.
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Disclaimer
Avantor Inc. published this content on April 29, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 29, 2026 at 13:19 UTC.