By Dean Seal
Avantor recorded slightly lower sales in its fourth quarter due to unfavorable foreign exchange rates, though its earnings were boosted by a divestiture.
The biopharma supplier posted a profit of $500.4 million, or 73 cents a share, compared with $98.5 million, or 15 cents a share, in the same quarter a year ago.
The big jump in net income was driven by a $446.6 million gain from the sale of its clinical services unit to Audax Private Equity last year.
Stripping out one-time items, adjusted earnings were 27 cents a share, a penny above the 26-cent consensus estimate of analysts polled by FactSet.
Sales slid 2% to $1.69 billion, just below analyst projections for $1.71 billion, according to FactSet.
Revenue would have been up 1% on an organic basis, but foreign currency translation and the divestiture of its clinical services business spurred the shortfall.
Sales were down 5% in its laboratory solutions business, but up 4% in its smaller bioscience production division.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 07, 2025 06:27 ET (11:27 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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