AptarGroup Reports Second Quarter Results
Second Quarter 2017 Summary: • Reported sales were in line with the prior year. • Excluding the negative impact from changes in foreign currency exchange rates, core sales increased 1% as robust core sales growth in the Pharma and Food + Beverage segments offset a decline in Beauty + Home. • Reported net income (11% of net sales) increased to $65 million (+10%) primarily due to a lower effective tax rate. • EBITDA (20% of net sales) decreased to $124 million (-7%) primarily due to decreases in business in certain markets and higher raw material costs. • Reported earnings per share were $1.01 compared to $0.91 reported in the prior year (+11%) and $0.90 in the prior year when adjusting for changes in currency exchange rates (+12%). Click Read More below for additional details.