AptarGroup, Inc. (NYSE:ATR), a global leader in drug delivery, consumer product dispensing and active material science solutions and services, today reported strong operational performance driven by Aptar’s Pharma and Beauty segments. Reported sales increased by 2% and core sales, excluding currency and acquisition effects, increased 4%. Aptar reported net income of $55 million for the quarter, a 12% decrease over the prior year, primarily due to restructuring charges.
“We are pleased to report a very positive start to 2023, driven by core sales growth in our Pharma and Beauty segments. Pharma results were driven by significant demand for our proprietary dispensing devices, which had core sales growth across all therapeutic indications in every region. Our robust pipeline continues to build, as we support the conversion of more drugs to nasal delivery. Sales of our beauty solutions also remained strong, especially for prestige fragrance, with growing demand in mass fragrance, color cosmetics, and sun care applications,” said Stephan B. Tanda, President and CEO, Aptar.
First Quarter 2023 Highlights:
• Reported sales grew 2% and core sales increased 4% driven by demand in Pharma and Beauty
• Aptar Pharma reported sales growth of 4% and core sales growth of 7%
• Aptar Beauty reported sales growth of 6% and core sales growth of 9%
• Reported earnings per share decreased 12% to $0.82, due to restructuring charges
• Adjusted earnings per share increased 2% to $0.95
• Operating cash flow was $98 million, up from $92 million in 2022
details at: https://www.aptar.com/wp-content/uploads/2023/04/PR-April-27-2023-Aptar-Q1-2023-Results.pdf