Avantor Reports Loss In Q2, Misses Estimates

(RTTNews) - Avantor, Inc. (AVTR), a chemicals and materials company, Friday reported a loss of $7.3 million or $0.01 per share for the second quarter, compared with profit of 179.3 million or $0.28 per share in the same quarter a year ago.

Latest quarter results were impacted by a non-cash impairment charge of about $160 million to reflect a reduction in the fair value of the company's Ritter assets.

Excluding one-time items, the company posted earnings of $0.28 per share in the quarter, that missed the average estimate of analysts polled by Thomson-Reuters of $0.29 per share. Analysts' estimates typically exclude special items.

Quarterly sales declined to $1.744 billion from $1.911 billion last year. The consensus estimate was for $1.8 billion.