AptarGroup Q3 2021 Earnings Report
Key Takeaways
AptarGroup reported a 9% increase in sales, primarily driven by double-digit core sales growth in Beauty + Home and Food + Beverage. Pharma sales declined slightly. Earnings per share were $0.70, and adjusted earnings per share were $0.94. The company completed acquisitions of Weihai Hengyu Medical Products and a majority stake in Voluntis.
Reported sales grew 9%, driven by double-digit core sales growth in Beauty + Home and Food + Beverage.
Core sales (excluding currency effects) increased 8%.
Pharma sales declined slightly compared to the prior year.
Adjusted earnings per share totaled $0.94, excluding certain charges.
AptarGroup
AptarGroup
AptarGroup Revenue by Segment
Forward Guidance
Aptar expects core sales growth in each business segment for the fourth quarter of 2021. Earnings growth is expected to be tempered due to the business mix in the Pharma segment, sequential foreign currency translation headwinds, rising inflation, and supply chain disruptions.
Positive Outlook
- Core sales growth is expected in each business segment.
- Further, gradual progress in the beauty market is anticipated.
- Continued good sales momentum is expected in elastomer components.
- Continued good sales momentum is expected in active material solutions.
- Focus on cost containment and increasing prices to offset rising input costs.
Challenges Ahead
- Earnings growth is expected to be tempered due to the business mix in the Pharma segment.
- Sequential foreign currency translation headwinds.
- Rising inflation.
- Supply chain disruptions including labor shortages.
- Difficult comparisons for prescription drug delivery devices and food and beverage closures markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income