AVTR expects 2022 adj. EPS of $1.43-$1.49 vs. consensus estimate of $1.50. Its prior outlook was $1.48-$1.54.
The company also reduced its 2022 free cash flow guidance to over $950M from its prior outlook of over $1B.
AVTR maintained its forecast for 2022 organic revenue growth and adj. EBITDA margin expansion.
“Looking toward H2 of 2022, we expect momentum in our core business to continue, and robust order book for our proprietary products gives us confidence in our FY growth trajectory,” said CEO Michael Stubblefield.
AVTR reported Q2 adj. of $0.37 vs. $0.35 in Q2 2021.
Revenue grew 2.7% Y/Y to $1.91B, driven by over 20% core organic growth in bioproduction.
Forex had an unfavorable impact of 4.4% with M&A adding 4.9%, resulting in organic sales growth of 2.3% and core organic sales growth of 6.4%.
Net sales from Americas were ~$1.16B, up 8.1%, with core organic sales increasing 8.1%.
Net sales from Europe were $623.8M, down 6.3%, with core organic sales rising 4.7%.
Net sales from AMEA were $130.1M, up 5.9%, with core organic sales down 0.3%.
Shares of AVTR dropped 20.3% YTD.