Avantor (AVTR) is trading higher today as investors react to the company’s first-quarter FY2026 earnings release and call from April 29, 2026. The quarter came in ahead of expectations on key profit metrics, and management emphasized early progress under its “Revival” transformation program alongside signs of stabilization in the VWR Distribution business.

Avantor reported Q1 net sales of $1.581 billion, GAAP EPS of $0.06 and adjusted EPS of $0.17, along with adjusted EBITDA of $219 million (13.9% margin). The company also posted operating cash flow of $58.7 million and free cash flow of $25.2 million, and it reaffirmed its FY2026 guidance originally issued on February 11, 2026.

Management attributed the upside to improved execution in Bioscience and Medtech Products and said it saw stabilization in VWR. On the earnings call, leadership also discussed expectations that VWR’s growth rate bottomed in Q1 and that the Bioscience & Medtech Products segment’s growth rate could bottom in Q2, positioning the company for organic revenue growth in the second half of FY2026.

With AVTR still well below longer-term levels, the next catalyst is whether stabilization continues through Q2 and whether the “Revival” actions translate into improving organic growth and margins as the year progresses. Investors will also watch cash generation and leverage metrics as the company executes operational changes while holding to its FY2026 outlook.