Avantor, Inc. (NYSE: AVTR) on Wednesday reported a decline in fourth-quarter revenue and provided a cautious outlook for 2026, as the life sciences supplier launched a “Revival” program to overhaul its manufacturing, supply chain, and digital channels.
The company reported fourth-quarter net sales of $1.66 billion, a 1.4% decrease compared to the same period in 2024. On an organic basis, which excludes the impact of foreign currency and divestitures, sales fell 4.1%.
Financial Performance
For the quarter ended Dec. 31, 2025, Avantor’s net income dropped to $52 million, or $0.08 per diluted share, down from $500 million in the prior-year period. On an adjusted basis, earnings per share (EPS) were $0.22, falling short of the $0.27 reported in Q4 2024.
For the full year 2025, the company recorded a net loss of $530 million, primarily driven by $785 million in impairment charges related to its Distribution reporting unit. Full-year net sales reached $6.55 billion, a 3.4% decrease.
Segment Results
Both of Avantor’s primary business segments saw organic declines in the fourth quarter:
• Laboratory Solutions: Reported sales of $1.116 billion, an organic decline of 4.1%. Adjusted operating income for the segment was $114 million.
• Bioscience Production: Reported sales of $548 million, also representing a 4.1% organic decline. Adjusted operating income for the segment was $127 million.
Revival Strategy and 2026 Outlook
2026 is a “year of transition and purposeful investment” as the company executes its “Revival” program. The initiative includes relaunching the VWR brand, upgrading e-commerce capabilities, and streamlining the manufacturing organization to improve accountability and agility.
“We are moving with urgency to execute Revival and turn around the performance of this great business,” Ligner said in a statement.
However, the company’s full-year 2026 guidance suggests continued headwinds. Avantor expects:
• Organic revenue growth: -2.5% to -0.5%.
• Adjusted EPS: $0.77 to $0.83, a decline from the $0.90 achieved in 2025.
• Adjusted EBITDA margin: 14.8% to 15.3%.
The company ended the year with adjusted net leverage of 3.2x and reported full-year free cash flow of $496 million. Ligner emphasized that these steps are intended to position Avantor for “sustainable shareholder value creation” in the long term.
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