Avantor, Inc. · NYSE:AVTR
Avantor — Q3 2026 Earnings Presentation
15 slides from Avantor's earnings presentation, Oct 28, 2026
Slide 1: Q3 2026 Earnings Presentation
Q3 2026 Earnings Earnings Presentation October 28, 2026
Slide 2: Disclaimer
Disclaimer Forward-looking statements Non-GAAP financial measures This presentation contains forward-looking statements within the meaning of Section 27A of To evaluate our performance, we monitor a number of key indicators at the consolidated the Securities Act of 1933 and Section 21E of the Securi
Slide 3: Q3 2026 Overview
Q3 2026 Overview Emmanuel Ligner President and Chief Executive Officer 3
Slide 4: Key messages
Key messages Revival execution continues to drive financial performance 1 The return to organic revenue growth is an important milestone on our Revival journey Strong Q3 results with better-than-expected revenue growth in both segments 2 VWR organic revenue growth accelerated to +5.8% BMP returned t
Slide 5: Performance highlights – Q3 2026
Performance highlights – Q3 2026 Total Revenue VWR Revenue BMP Revenue $1,698M $1,234M $465M Organic growth Organic growth Organic growth +5.2% +5.8% +3.6% YoY YoY YoY Adj. EBITDA Adj. EPS Free Cash Flow1 $257M $0.22 $169M Growth Growth Adjusted net leverage2 -4.1% -3.0% 3.1x YoY YoY Q3 2026 Note: F
Slide 6: Improved execution and stronger end markets are driving Avantor's return to growth
Improved execution and stronger end markets are driving Avantor's return to growth Improved execution Stronger end markets VWR Large Pharma and Biotech • Expanding relationships with large global Recovery customers Americas underway • Performing well in small- and mid-size accounts Asia • e-commerce
Slide 7: Todd Garner appointed Chief Financial Officer
Todd Garner appointed Chief Financial Officer on September 21st “I have been struck by the quality and depth of our teams, their commitment to serving customers, and the rigor with which they operate. Through Revival, we are strengthening processes and building operating disciplines that support gre
Slide 8: Q3 2026 Performance and Capital Allocation
Q3 2026 Performance and Capital Allocation Steve Eck Senior Vice President and Chief Accounting Officer 8
Slide 9: Q3 consolidated performance
Q3 consolidated performance • Consolidated results ahead of Revenue ($M) Adjusted EPS expectations driven by faster than +4.6% expected organic revenue growth $1,624 reported $1,698 $0.22 -3.0% $0.22 in both segments +5.2% organic • VWR growth accelerated • BMP returned to organic growth Q3'25 Q3'26
Slide 10: VWR: Q3 2026 segment performance
VWR: Q3 2026 segment performance VWR Distribution & Services • VWR organic growth accelerated to +5.8% in Q3 • Growth acceleration driven by actions taken to improve performance as well as stronger end markets • End market strength driven by large Pharma and Biotech, the Reported Adjusted Americas a
Slide 11: BMP: Q3 2026 segment performance
BMP: Q3 2026 segment performance Bioscience & Medtech Products • Revival is driving greater operational consistency at BMP • BMP returned to organic growth, as anticipated • Q3 organic revenue growth of +3.6% was above our expectations • Solid performance across the Reported Adjusted segment, with s
Slide 12: Robust free cash flow and strengthening balance sheet
Robust free cash flow and strengthening balance sheet Free Cash Flow1 ($M) Q3 2026 Update $169 • Q3 2026 free cash flow of $169M1 $150 $152 • Raised FY’26 free cash flow guidance to $525M to $550M1 • Reduced net debt balance2 by $173M in Q3 2026 $39 Q4'25 Q1'26 Q2'26 Q3'26 Net Debt Balance2 ($M) Foc
Slide 13: Increased 2026 guidance
Increased 2026 guidance1 FY 2026 guidance FY 2026 guidance Modeling Assumptions (as of July 29, 2026) (as of Oct 28, 2026) • Reported revenue range is +1.5% to Organic Revenue Growth -0.5% to +0.5% +0.75% to +1.25% +2.0%, reflecting +0.75% FX tailwind (+0.5% tailwind previously) Adj. EBITDA Margin 1
Slide 14: We are executing Revival, our comprehensive program
We are executing Revival, our comprehensive program to sharpen focus and improve execution Revival Growth Cash generation Our Revival program Sequential growth Generating strong FCF, is delivering results acceleration in VWR, and strategically investing, and BMP returned to growth strengthening the
Slide 15: Investor Day
Investor Day December 8, 2026 9 AM ET Webcast on our Investor Relations website Register at ir.avantorsciences.com 15