AptarGroup Q3 2023 Earnings Report
Key Takeaways
AptarGroup reported a 7% increase in reported sales and a 2% increase in core sales. Net income increased by 55% to $84 million. Earnings per share increased by 56% to $1.26, and adjusted earnings per share increased by 39% to $1.39.
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
AptarGroup
AptarGroup
AptarGroup Revenue by Segment
Forward Guidance
Aptar expects continued growth in proprietary pharma drug delivery systems and improvement in the injectables division. Fragrance dispensing solutions are anticipated to finish strong in 2023. The Beauty and Closures segments will be aided by the improving environment in North America.
Positive Outlook
- Continued growth in proprietary pharma drug delivery systems
- Continued improvement in injectables division’s performance
- Fragrance dispensing solutions expected to finish strong in 2023
- Beauty and Closures segments aided by improving environment in North America
- Focus on reducing costs and driving profitable growth
Challenges Ahead
- Guidance excludes restructuring expenses
- Guidance excludes changes in the fair value of equity investments
- Guidance excludes acquisition costs
- Guidance is based on an effective tax rate range of 24% to 26%
- Currency exchange rate assumptions equate to an approximately $0.02 per share tailwind when compared to the prior year fourth quarter earnings.
Revenue & Expenses
Visualization of income flow from segment revenue to net income