Latest News by Industry
![Avantor, Inc. [AVTR] reports annual net loss of $321.1 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FAVTR.png&w=1200&q=75)
Avantor, Inc. [AVTR] has reported a net loss of $321.1 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $7.0 billion
Based in RADNOR, Pennsylvania, Avantor, Inc. operates in the MANUFACTURING sector.
The consolidated statements of operations for the fiscal year ended December 31, 2023, compared to the same period in 2022 and 2021, reflect the following financial highlights in millions of USD:
- Net sales for the year were $6,967.2 in 2023, down from $7,512.4 in 2022 and $7,386.1 in 2021.
- Cost of sales amounted to $4,603.4 in 2023, compared to $4,909.6 in 2022 and $4,883.4 in 2021.
- Gross profit was $2,363.8 in 2023, lower than $2,602.8 in 2022 and $2,502.7 in 2021.
- Operating income decreased to $696.4 in 2023 from $1,130.2 in 2022 and $972.2 in 2021.
- Net income for the year was $321.1 in 2023, a decrease from $686.5 in 2022 and $572.6 in 2021.
- Earnings per share (basic) were $0.48 in 2023, down from $1.02 in 2022 and $0.86 in 2021.
- Diluted earnings per share were $0.47 in 2023, lower than $1.01 in 2022 and $0.85 in 2021.
It is evident from the financial results that the company experienced a decline in both sales revenue and profitability in the fiscal year 2023 compared to the previous two years. The decrease in net income and operating income suggests challenges faced during the reporting period, impacting the bottom line and earnings per share figures. Investors and analysts may scrutinize these results further to understand the underlying reasons for the company's performance and assess its future prospects.
Also Read: