Avantor, Inc.
For the period ended Oct 28, 2026. Filed Oct 28, 2026.
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Oct 28, 2026 · Filed Oct 28, 2026
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Contents
EX-99.1 · Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA and Adjusted EBITDA Margin
| (dollars in millions, % based on net sales) · Three months ended September 30, · Nine months ended September 30, | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2026 · 2025 · 2026 · 2025 | ||||||||
| $ · % · $ · % · $ · % · $ · % | ||||||||
| Net income (loss) | $203.4 | 12.0% | $(711.8) | (43.8)% | $284.8 | 5.7% | $(582.6) | (11.9)% |
| Amortization | 75.5 | 4.4% | 76.1 | 4.7% | 227.1 | 4.6% | 225.5 | 4.6% |
| Loss on extinguishment of debt | 0.8 | —% | 0.2 | —% | 2.0 | —% | 0.2 | —% |
| Restructuring, severance, and related impairment charges1 | 8.1 | 0.5% | 2.2 | 0.1% | 47.2 | 0.9% | 28.0 | 0.6% |
| Transformation expenses2 | — | —% | 13.7 | 0.8% | — | —% | 49.5 | 1.0% |
| Reserve for certain legal matters, net3 | 1.3 | 0.1% | 1.6 | 0.1% | 4.7 | 0.1% | 5.2 | 0.1% |
| Other4 | 3.5 | 0.2% | 7.8 | 0.5% | 3.9 | 0.1% | 18.5 | 0.4% |
| Pension termination charges5 | — | —% | (1.8) | (0.1)% | — | —% | 16.3 | 0.3% |
| Impairment charges6 | — | —% | 785.0 | 48.3% | — | —% | 785.0 | 16.1% |
| Income tax benefit applicable to pretax adjustments | (146.2) | (8.6)% | (21.9) | (1.3)% | (166.0) | (3.3)% | (78.0) | (1.6)% |
| Adjusted net income | 146.4 | 8.6% | 151.1 | 9.3% | 403.7 | 8.1% | 467.6 | 9.6% |
| Interest expense, net | 39.9 | 2.4% | 44.2 | 2.7% | 122.2 | 2.6% | 129.8 | 2.7% |
| Depreciation | 29.8 | 1.7% | 28.4 | 1.8% | 88.8 | 1.7% | 81.4 | 1.7% |
| Income tax provision applicable to Adjusted net income | 40.8 | 2.4% | 44.2 | 2.7% | 115.9 | 2.3% | 138.5 | 2.7% |
| Adjusted EBITDA | $256.9 | 15.1% | $267.9 | 16.5% | $730.6 | 14.7% | $817.3 | 16.7% |
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Reflects charges incurred during the period related to restructuring initiatives to increase profitability and productivity. Costs included in this caption consist of employee severance, site-exit and contract termination costs, and non-cash impairment charges on long-lived assets associated with site exits.
Represents incremental expenses directly associated with the Company’s former cost transformation initiative, which concluded in 2025. These expenses are primarily related to the cost of external advisors.
Represents charges and legal costs, net of recoveries, incurred in connection with certain litigation and other contingencies that management evaluates separately from core operating performance.
Represents net foreign currency (gain) loss from financing activities, other stock-based compensation expense (benefit) and certain other items that management evaluates separately from core operating performance. The 2025 periods also include a purchase price adjustment related to the 2024 sale of our Clinical Services business and $6.1 million of severance and transition costs associated with the replacement of our Chief Executive Officer.
Represents pension termination charges related to termination of our U.S. Pension Plan.
Represents the $785.0 million non-cash goodwill impairment charge recognized in the third quarter of 2025 related to the former Distribution reporting unit.
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