AptarGroup Q2 2024 Earnings Report
Key Takeaways
AptarGroup's second quarter 2024 results showed a 2% increase in reported sales and a 3% increase in core sales. Net income increased by 9% to $90 million, with earnings per share rising by 8% to $1.34 and adjusted earnings per share increasing by 12% to $1.37. The Pharma segment delivered strong sales growth, and margins improved due to higher value product sales and cost management efforts.
Reported sales increased 2% and core sales increased 3%.
Reported earnings per share increased 8% to $1.34, and adjusted earnings per share increased 12% to $1.37.
Reported net income increased 9% to $90 million, and adjusted EBITDA increased 6% to $193 million.
Pharma segment delivered reported sales growth of 6% and core sales growth of 7% due to demand for proprietary drug delivery systems.
AptarGroup
AptarGroup
AptarGroup Revenue by Segment
Forward Guidance
Aptar expects growth to continue in the third quarter, driven by proprietary drug delivery systems and a progressive recovery in North America.
Positive Outlook
- Growth is expected to continue in the third quarter.
- Growth for proprietary drug delivery systems is anticipated, driven by demand for nasally delivered central nervous system drugs and allergy therapies.
- Growing demand for elastomeric components used for GLP-1.
- Consumer dispensing technologies are showing pockets of strength and progressive recovery in North America.
- Focus on cost management and improved operational leverage should benefit as volumes recover.
Revenue & Expenses
Visualization of income flow from segment revenue to net income