Loading...
•
Jun 30, 2021
AptarGroup Q2 2021 Earnings Report
AptarGroup's second quarter results for 2021 were reported.
Key Takeaways
AptarGroup reported a 16% increase in sales to $811 million, driven by strong core sales growth and positive currency effects. Core sales increased by 10%, with double-digit growth in Beauty + Home and Food + Beverage segments. Earnings per share were $0.81, and adjusted earnings per share were $0.91.
Reported sales grew 16% driven by strong core sales growth and positive currency effects.
Core sales increased 10% mainly on double digit core growth in Beauty + Home and Food + Beverage.
Reported earnings per share totaled $0.81, an increase of 29% compared to the prior year.
Adjusted EBITDA totaled $148 million, an increase of 8% compared to the prior year.
AptarGroup
AptarGroup
AptarGroup Revenue by Segment
Revenue by Segment
Aptar Pharma Revenue
CapyFin.comAptar Beauty Revenue
CapyFin.comAptar Closures Revenue
CapyFin.com Forward Guidance
Aptar expects earnings per share for the third quarter of 2021, excluding any restructuring expenses, acquisition costs and changes in the fair value of equity investments, to be in the range of $0.90 to $0.98 and this guidance is based on an effective tax rate range of 28% to 30%.
Positive Outlook
- Continued gradual improvement in Aptar’s beauty and beverage businesses as the reopening of economies is expected to continue at a measured pace
- Ongoing steady demand for elastomer components for injection devices in the third quarter
- Consolidated margins will improve as transition to a more balanced and steady growth pattern
- Long-term views have not changed.
- Fundamental growth story is intact across each of our markets.
Challenges Ahead
- Broader macro factors impacting our business are not anticipated to change dramatically from what we experienced in the second quarter.
- Uncertainties around the COVID-19 variants and limited resumption of intercontinental travel
- Current inventory destocking cycle by our customers in the prescription drug market is expected to continue through the third quarter
- Exceptionally strong custom tooling sales reported in the prior year third quarter by the Pharma segment’s active material science solutions division, is not expected to repeat.
- Inflation and cost pressures continue to be a headwind, especially in raw material and transportation costs
Revenue & Expenses
Visualization of income flow from segment revenue to net income