Avantor Inc (NYSE:AVTR) shares are trading lower in Thursday’s after-hours session after the company reported worse-than-expected financial results.
Avantor said second-quarter revenue increased 2.8% year-over-year to $1.91 billion, which missed the estimate of $1.99 billion, according to data from Benzinga Pro. The company reported quarterly adjusted earnings of 37 cents per share, which missed the estimate of 38 cents per share.
“Looking toward the second half of 2022, we expect the momentum in our core business to continue, and the robust order book for our proprietary products gives us confidence in our full-year growth trajectory,” said Michael Stubblefield, president, and CEO of Avantor.
Avantor is a provider of mission-critical products and services to customers in the biopharma, healthcare, education, and government and advanced technologies and applied materials industries.
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AVTR Price Action: Avantor has a 52-week high of $41.98 and a 52-week low of $27.51.
The stock was down 10.50% in after-hours at $28.66 at press time.
