Aptar Reports First Quarter Results

AptarGroup, Inc. (NYSE:ATR) today reported first quarter results and declared a quarterly dividend.

First Quarter Summary
• Reported sales increased 17%, including the positive effect of currency rates (+10%)
• Core sales, excluding currency effects, rose 7% driven by growth in each business segment
• Reported net income (8% of net sales) increased 14% to $59 million
• Adjusted EBITDA (19% of net sales) increased 17% to $134 million
• Reported earnings per share grew 14% to $0.92 and included costs associated with our business transformation ($0.07 per share)
• Adjusted earnings per share of $0.99 compared to prior year reported earnings per share of $0.81 (+22%) and to prior year currency adjusted earnings per share of $0.90 (+10%)
• Business transformation progressing as planned

First Quarter Results
For the quarter ended March 31, 2018, reported sales increased 17% over the prior year to $703 million. Core sales, which exclude the positive impact from changes in currency exchange rates, increased approximately 7%.

Commenting on the quarter, Stephan Tanda, President and CEO, said, “We are pleased to report a positive start to 2018. Driven by broad-based demand for our value-adding innovative dispensing solutions, core sales grew in each business segment. Our Beauty + Home segment had another strong quarter with robust core sales growth, especially in the beauty and personal care markets. Our Pharma segment had another excellent quarter with increased demand for our leading drug delivery systems, particularly in the consumer healthcare market where the aggressive flu season helped drive demand for our nasal spray and saline systems. Our Food + Beverage segment had a mixed quarter with increased core sales to the food market and sluggish sales to the beverage market, primarily due to weak volumes in China. In addition to the top line growth, our Beauty + Home and Pharma segments reported adjusted EBITDA growth over the prior year, while our Food + Beverage segment had a slight decrease in adjusted EBITDA, in part due to the mix of business and the timing of our pass-through of higher resin costs.”

Aptar’s reported earnings per share of $0.92 is an increase of 14% over the prior year level of $0.81 despite the negative impacts of our business transformation initiatives, higher raw material costs and a slightly higher tax rate. Comparable adjusted earnings per share, excluding the business transformation initiatives in the current period, increased 10% to $0.99 compared to currency adjusted prior year results of $0.90.
more detail at:  http://investors.aptar.com/phoenix.zhtml?c=109617&p=irol-newsArticle&ID=2345178

Related Posts

Sonoco Expands Focus on Sustainable Packaging, Adding Recyclable Molded Fiber Packaging for Frozen and Refrigerated Meals

Sonoco in partnership with Tellus Products, LLC, a company that produces USA grown and made, plant-based compostable packaging for foodservice products, today announced the receipt of a prequalified label, Check Locally for recyclability from How2Recycle for the Natrellis line of food packaging. Natrellis, a dual-ovenable package made with upcycled sugarcane fiber and other U.S. grown plant fibers features a highly engineered surface that delivers outstanding performance through the product’s full lifecycle, providing consumers a great product experience. This performance helps maintain the package strength during all phases of use, preventing loss of food moisture and eliminating wicking through the package to outside surfaces. Sonoco also provides custom rigid lidding and flexible lidding for these market solutions. The flexible lidding is customized for strong heat-seals around the perimeter of the fiber tray lip, preventing leakage prior to freezing and freezer burn while maintaining adhesion during cooking and easy to peel consumer use. The rigid lid is developed to include a click audible sound, ensuring the product is sealed tight for transportation but easy for consumer use.

Smurfit Kappa raises Climate Change ambition by targeting at least ‘Net Zero’ emissions by 2050

Smurfit Kappa has today announced new targets to further reduce its fossil CO2 emissions, including its ambition to reach at least net zero emissions by 2050. It has also increased its existing intermediate 2030 CO2 reduction target by 15 percentage points to 55%, in comparison to the 2005 baseline. The company will have these targets validated by the Science Based Target initiative as being in line with the objectives of the Paris Agreement. Smurfit Kappa has been a market leader in sustainability since 2005. Before today’s announcement, the company had already achieved a reduction in CO2 emission intensity of 32.9% on its 2030 target of a 40% reduction. This impressive achievement has resulted from the successful implementation of key projects that form part of the company’s medium-term strategic plan. One such project was the installation of an industry-leading recovery boiler at the company’s Nettingsdorf Paper Mill in Austria which began operating in June of this year. The new boiler is set to cut CO2 emissions by an additional 40,000 tonnes, which translates into an additional 1.5% reduction in CO2 emissions across the business.

Survey shows perception of cost as the main barrier to overcome in sustainable packaging

One of the leading renewable biomaterials suppliers, UPM, has unveiled the latest findings from a highly targeted survey of some of the world’s leading packaging designers. The survey, conducted in collaboration with the Pentawards, has revealed unique insights into sustainable packaging design, including some of the key challenges faced by designers, with UPM highlighting how these can be overcome. The survey results show that while the majority (47%) of the designer respondents feel extremely comfortable handling briefs that include sustainability requirements, 43% of packaging designers would prefer more direction or information to feel fully comfortable when dealing with these briefs. This highlights a need for further education on how to incorporate sustainability into packaging design, with most respondents (35%) suggesting material guides would be the most beneficial. Further findings reveal that 57% of the designer respondents believe they always or often have the opportunity to impact the material choice of a product. However, 20% say they seldom do, and 17% almost never, which suggests some clients may not have yet realised the value of exploring alternative and more sustainable packaging solutions.
Back To Top
×Close search
Search