AVTR - Avantor rises on strong Q1 result

Avantor (NYSE:AVTR +6.8%) stock rises after the company posted first-quarter profit that beat Wall Street estimates, driven by demand in its Americas and AMEA businesses. The company quarterly revenue increased 9.2% Y/Y to $1.95B, beating estimates by $20M. Net Sales from Americas business rose 10.5% Y/Y to $1.14B, while AMEA net sales went up 26.6% Y/Y to $126.6M. The company said adjusted net leverage was 4.0X as of March 31, down from 4.2X as of Dec. 31, 2021, and in line with its target leverage of 2-4X. Net income rose to $190.4M from $164M in the first quarter of 2021 and adjusted net income was up 14.7% from the prior year. The company posted adjusted quarterly profit per share of $0.38, beating analysts' estimate by $0.02.

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Avantor rises on strong Q1 result