“Net income for the six months ended June 30, 2026 decreased primarily due to lower operating income, as previously discussed, and higher income tax expense, partially offset by the absence of pension termination charges incurred in the prior year and lower in…”10-Q · Jul 29, 2026 ↗
Avantor, Inc.
AVTR
Market read
Avantor, Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
- Operating margin fell 3.0 percentage points.
- Gross margin contracted 170 basis points for the six months ended June 30, 2026, driven by unfavorable product mix, inflationary pressures, higher inventory reserves and freight costs.
Invalidation: The isolated read changes if AVTR's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
- Operating margin fell 3.0 percentage points.
- Net income decreased 32.9% versus the comparable filing period.
- Gross margin fell 2.2 percentage points.
- Gross margin contracted 170 basis points for the six months ended June 30, 2026, driven by unfavorable product mix, inflationary pressures, higher inventory reserves and freight costs.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
No qualifying supportive evidence was identified.
- Latest annual revenue changed -3.4% year over year.
- Operating margin changed -19.7 percentage points in the latest annual period.
- Net margin changed -18.6 percentage points in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 5 filings.
- Macroeconomic conditions has repeated adverse evidence across 5 filings.
- Restructuring and cost reductions has repeated adverse evidence across 5 filings.
- Capital investment and capacity has repeated adverse evidence across 4 filings.
- Input and raw-material costs has repeated adverse evidence across 4 filings.
No credible peer-relative valuation comparison is available yet.
Price as of Sep 10, 2026
14.91Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“The decrease was primarily driven by unfavorable product mix and inflationary pressures on SG&A expenses.”10-Q · Jul 29, 2026 ↗
“No goodwill impairment was identified as a result of the reorganization, and the total carrying value of goodwill was unchanged.”10-Q · Jul 29, 2026 ↗
“These valuation methods require management to make numerous assumptions, including but not limited to future profitability and cash flows, net sales, gross margin, SG&A expenses, capital expenditures, investments in debt‑free net working capital, discount rat…”10-Q · Jul 29, 2026 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 16:00 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for AVTR. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing shows material pressure
10-Q filed 2026-04-29 against the comparable filing from 2025-04-25.
What improved
No thresholded improvement was identified.
What weakened
- Operating margin fell 3.0 percentage points.
- Net income decreased 32.9% versus the comparable filing period.
- Gross margin fell 2.2 percentage points.
Filing receipts
“Net income (in millions) Three months ended March 31, Change 2026 2025 Operating income $ 99.5 $ 147.4 $ (47.9) Interest expense, net (42.9) (42.2) (0.7) Loss on extinguishment of debt (0.6) — (0.6) Other expense, net (0.5) (19.5) 19.0 Income tax expense (12.2) (21.2) 9.0 Net income $ 43.3 $ 64.5 $ (21.2) Three months ended Net income for the three months ended March 31, 2026 decreased primarily due to lower operating income, as previously discussed, partially offset by the absence of pension termination charges incurred in the prior year and lower income tax expense from reduced taxable income.”
“The decrease was primarily due to lower sales volume, higher inventory reserves, unfavorable product mix and inflationary pressures on compensation expense.”
“These valuation methods require management to make numerous assumptions, including but not limited to future profitability and cash flows, net sales, gross margin, SG&A expenses, capital expenditures, investments in debt‑free net working capital, discount rates reflecting current market assumptions, the weighting of valuation methods, and the selection of comparable publicly traded companies.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind AVTR
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depended on by
ESTAEstablishment Labs Holdings Inc.supplierFeb 27, 2026 ▾
“In particular, we obtain NuSil brand medical-grade silicone from Avantor, Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 1 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
AVTR is currently a Leader in the organic co-movement group Medical Instruments & Supplies. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for AVTR; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.