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Avantor Boosts Forecast After Earnings Beat Estimates
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 * 00:00Michael talked to us first about the drivers of your quarterly earnings
   and your raised forecast. What's behind it. Yeah thanks
 * 00:06for the opportunity. We've got tremendous momentum in our business. We
   had another quarter of double digit organic growth.
 * 00:12We expanded EBIT margins more than 180 basis points in the quarter and
   continued to generate significant cash flow. And all
 * 00:22that momentum has enabled us to deploy over four billion dollars of cash
   this year towards bringing in new capabilities via
 * 00:29emanate. So it's an exciting time to be here. Toronto or. And I as I
   understand it the role that you play in life sciences
 * 00:37is to offer a lot of the inputs that other companies need to do their
   work. How were you affected by the pandemic interrupting
 * 00:45supply chains and even labor shortages in some parts of your business.
   It's been a very challenging environment to say the
 * 00:52least. Really since the beginning of the pandemic at first you know some
   of our end markets particularly in things like
 * 00:57academia were hit pretty hard. But at the same time things in biopharma
   really started to ramp as research for you know Covid
 * 01:05vaccine picked up in a significant way. But we started to see pretty
   early on you know shortages of key materials. Firstly
 * 01:15some of the personal protective equipment that scientists and
   technicians would need to to work in a clean room became quite
 * 01:21short. And that's moved through various categories. You know since began
   the pandemic.
 * 01:27But you know clearly Labor has been difficult to come by particularly
   here in the United States throughout most of the
 * 01:35pandemic. But the teams have done a tremendous job of finding solutions
   and work arounds and being able to leverage our global
 * 01:42capabilities our global footprint to continue to be able to service the
   unprecedented rising demand from our customers. Well
 * 01:51you have also a pretty incredible seed. Michael in terms of watching
   breakthroughs you had a key role in Operation Warp
 * 02:01Speed and the super fast development of the Covid vaccine. Do you see
   any other exciting break breakthroughs that you can
 * 02:09share. No it really really has been an exciting time to be part of the
   life sciences space. I can't think of a more exciting
 * 02:16time in fact. And certainly the work that we do is probably never
   mattered more. You know the work we did around Covid was
 * 02:22was very gratifying. You know we were supporting all you know modalities
   whether it be M RNA which we've all come to learn a
 * 02:31lot about in the last 18 months or even some of the other modalities.
   But those same technologies are also being
 * 02:38pervasively used across a number of therapeutic areas to treat diseases
   that we've never been able to treat before. You know
 * 02:45there were some earlier announcements here in recent months about things
   like Alzheimer's for example that we now have an
 * 02:50improved therapy for that we haven't had before. So the promise of
   science I think has certainly been on display here throughout
 * 02:57the pandemic. There's a pretty attractive funding environment given the
   opportunities here that's really allowing us to
 * 03:05accelerate the development of a lot of different technologies. And it
   certainly creates a bright future for all of us here in
 * 03:10the life sciences space. And it sure looks as though you've taken
   advantage of a funding
 * 03:16environment to retire some debt and reorganize your balance sheet a
   little bit. How does that place you now. For what. The
 * 03:22flexibility for what you might want to do whether that is your organic
   growth or whether that's acquisition. Yeah that's been
 * 03:29an important part of our development here over the last couple of years
   is being able to reposition our balance sheet to give
 * 03:35us the flexibility to not only invest to drive organic growth but it's
   allowed us to return to. And as I mentioned we've
 * 03:42deployed over four billion dollars of cash this year towards two
   acquisitions that we have closed in the second quarter and an
 * 03:50additional acquisition here that we should close here any day now which
   allows us to bring in new capabilities enhance our our
 * 03:58model and create more value for our customers. We now have our balance
   sheet in a position where you know on an ongoing basis
 * 04:06we should be able to deploy more and more capital towards growing our
   business which is really exciting to be part of.

For YouLive TV
 * NOW PLAYING
   
   
   AVANTOR BOOSTS FORECAST AFTER EARNINGS BEAT ESTIMATES

 * 01:55
   
   
   LAZARD CEO SAYS JUNIOR STAFF SEEK LONG HOURS OF INTERESTING WORK

 * 03:29
   
   
   DALIO: QUARTER-POINT FED CUT ‘RIGHT THING’ FOR CREDITORS

 * 01:00
   
   
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 * 06:52
   
   
   DSV CEO LUND ON DEUTSCHE BAHN SCHENKER DEAL

 * 03:36
   
   
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 * 06:11
   
   
   AIRBALTIC CEO: IN PRE-IPO DISCUSSIONS WITH INVESTORS

 * 03:29
   
   
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 * 04:50
   
   
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 * 03:46
   
   
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 * 05:06
   
   
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 * 43:50
   
   
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 * 09:42
   
   
   BILL DUDLEY: THE FED SHOULD CUT RATES BY 50 POINTS

 * 10:30
   
   
   CAPITAL GROUP'S JONSSON: STAY FOCUSED ON LONG-TERM


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AVANTOR BOOSTS FORECAST AFTER EARNINGS BEAT ESTIMATES


 * BLOOMBERG MARKETS


 * TV SHOWS

November 2nd, 2021, 11:22 PM GMT+0100

Michael Stubblefield, Avantor CEO, discusses 3Q earnings and outlook for the
life sciences industry. He speaks exclusively with Matt Miller and Amanda Lang
on "Bloomberg Markets."

--------------------------------------------------------------------------------


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