Loading...
•
Sep 30, 2022
AptarGroup Q3 2022 Earnings Report
AptarGroup reported solid Q3 2022 results, with net income increasing by 15% and core sales growing by 9% despite a challenging economic backdrop.
Key Takeaways
AptarGroup's Q3 2022 results showed a 15% increase in net income to $54 million, with core sales up 9%. The Pharma segment drove growth with double-digit core sales increases, while Beauty + Home faced supply chain issues in North America. The company expects continued growth in Pharma but anticipates softening demand in personal care, food, and beverage markets.
Reported sales grew 1% and net income increased 15% to $54 million.
Core sales increased 9% and adjusted EBITDA was even with the prior year level of $154 million.
Reported earnings per share increased 16% to $0.81 compared to $0.70 in the prior year.
Adjusted earnings per share increased 12% to $0.95 compared to $0.85 in the prior year.
Revenue by Segment
Forward Guidance
Aptar expects Q4 2022 earnings per share to be in the range of $0.73 to $0.83, excluding restructuring expenses, changes in the fair value of equity investments and acquisition costs. This guidance is based on an effective tax rate range of 28% to 30% and a Euro/US$ exchange rate of 0.98.
Challenges Ahead
- Pharma segment is expected to grow at more normalized levels.
- Do not expect to repeat last year’s strong sales of active material solutions for at-home COVID-19 test kits.
- Anticipate the softening in demand in markets such as personal care, food and beverage to continue.
- Managing the inflationary environment through price initiatives and energy surcharges, as well as controlling expenses.
- Continue to allocate capital selectively while maintaining our strong balance sheet.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...