Avantor reported third quarter net sales of $1,698.3 million on October 28, up 4.6 percent against a year earlier and up 5.2 percent on an organic basis. Net income was $203.4 million, against a net loss of $711.8 million in the third quarter of 2025, and GAAP diluted earnings per share were $0.30, with adjusted earnings per share of $0.22. Adjusted EBITDA was $256.9 million, a margin of 15.1 percent. Operating cash flow was $195.1 million and free cash flow $156.2 million.
President and chief executive Emmanuel Ligner said the company was delighted to return to year on year growth, while noting the revival program is not finished. VWR Distribution and Services sales rose 5.0 percent reported to $1,233.8 million, with organic growth accelerating to 5.8 percent. Bioscience and Medtech Products sales rose 3.5 percent to $464.5 million and returned to organic growth.
Avantor raised its fiscal 2026 guidance: organic revenue growth is now expected at 0.75 to 1.25 percent, up from a range of minus 0.5 to plus 0.5 percent given on July 29, adjusted earnings per share guidance moved to $0.81 to $0.83, and free cash flow guidance rose to $525 million to $550 million. Total debt was $3,699.7 million at September 30, with adjusted net leverage of 3.1 times. For a tools supplier whose customers cut laboratory spending after the pandemic build out, even low single digit organic growth, raised twice in direction this quarter, marks a turn.