Aptar Reports Third 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. Strong sales from prestige and mass fragrance dispensing devices also contributed positively to the results. Reported sales increased by 7% and core sales, excluding currency and acquisition effects, increased by 2%. Aptar reported net income of $84 million for the quarter, a 55% increase over the prior year.

Commenting on the third quarter results, Stephan B. Tanda, Aptar President and CEO, said, “Aptar delivered another quarter of strong, double-digit EPS growth, driven by increased core sales in our proprietary pharma dosing and dispensing systems and the success of our beauty dispensing solutions in fragrance. Our margins also continued to improve thanks to our ongoing focus on cost management and operational leverage.”

Third Quarter 2023 Highlights
*Reported sales increased 7% and net income increased 55% to $84 million
*Core sales increased 2% and adjusted EBITDA of $193 million increased 26% from the prior year
*Pharma proprietary drug delivery systems had double-digit growth across multiple therapeutic applications
*Beauty’s prestige and mass fragrance dispensing technologies had double-digit sales growth
*Reported earnings per share increased about 56% to $1.26 compared to $0.81 in the prior year
*Adjusted earnings per share increased 39% to $1.39 compared to $1.00 in the prior year (including comparable exchange rates)
*Margins continued to expand across all three segments
*Cash flow from operations was $173 million and free cash flow was $97 million, up from $55 million in 2022, a 76% increase
details at: https://www.aptar.com/wp-content/uploads/2023/10/PR-Oct-25-2023-Aptar-Q3-2023-Results.pdf

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