FX.co ★ Avantor, Inc Q1 Profit Decreases, but beats estimates

Avantor, Inc. (AVTR) has announced their first-quarter earnings, revealing a decrease from the same period last year, although the figures surpassed Wall Street expectations.

The firm's profits amounted to $60.4 million, equating to $0.09 per share, a noteworthy drop when compared to the first-quarter earnings of the previous year - $121.5 million, or $0.18 per share.

When disregarding certain variables, the corporation disclosed adjusted earnings of $150.6 million, or $0.22 per share. These figures, on average, were expected to only reach $0.20 per share, according to forecasts aggregated by Thomson Reuters. It is worth noting, these estimates frequently discount exceptional items.

Looking at revenue, the company's receipts for the quarter dropped 5.7%, plummeting to $1.679 billion from $1.780 billion in the same period last year.

On a GAAP basis:

- Earnings for Q1 were $60.4 million, a decrease from $121.5 million last year.

- EPS for Q1 was $0.09, down from $0.18 last year.

- Revenue for Q1 was placed at $1.679 billion, a decrease from $1.780 billion last year.