Aptar Reports Second Quarter 2023 Results

AptarGroup, Inc. (NYSE:ATR), a global leader in drug and consumer product dosing, dispensing and protection technologies, today reported strong operational performance driven by continued growth of the company’s proprietary drug delivery systems and significant sequential improvement in injectables sales as Enterprise Resource Planning (ERP) system implementation effects moderated. Strong sales from prestige and mass fragrance also contributed positively to the results. Reported sales increased by 6% and core sales, excluding currency and acquisition effects, increased by 4%. Aptar reported net income of $83 million for the quarter, a 31% increase over the prior year.

Commenting on the second quarter results, Stephan B. Tanda, Aptar President and CEO, said, “Aptar delivered strong, double-digit EPS growth in the second quarter, highlighted by increased core sales in our pharma proprietary dosing and dispensing systems and the success of our beauty dispensing solutions in fragrance. Our strong performance coupled with our ongoing efforts to reduce costs, resulted in improved margins. Additionally, I am proud to share the ESG progress made by our global team, with the recent release of our Corporate Sustainability Report, which highlights key milestones, strategic progress and the competitive advantage our leading position affords us.”

Second Quarter 2023 Highlights
*Reported sales increased 6% and net income increased 31% to $83 million
*Core sales increased 4% and adjusted EBITDA of $181 million increased 13% from the prior year
*Pharma proprietary drug delivery systems grew across the majority of end-use categories
*Beauty’s fragrance dispensing technologies had double-digit growth in the quarter
*Reported earnings per share increased 31% to $1.24 compared to $0.95 in the prior year
*Issued new Corporate Sustainability Report highlighting ESG commitments and initiatives
details at: https://www.aptar.com/wp-content/uploads/2023/07/PR-July-27-2023-Aptar-Q2-2023-Results.pdf

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