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Dec 31, 2023
AptarGroup Q4 2023 Earnings Report
AptarGroup reported strong Q4 2023 operational results, driven by double-digit growth in proprietary drug delivery systems and strong growth in fragrance dispensing technologies.
Key Takeaways
AptarGroup's Q4 2023 results showed a 5% increase in reported sales and a 2% increase in core sales. Net income increased by 6% to $62 million. Adjusted earnings per share increased 27% to $1.21. The Pharma segment experienced over 20% core sales growth in proprietary dosing and dispensing systems.
Reported sales increased 5% and net income increased 6% to $62 million.
Core sales increased 2% and adjusted EBITDA increased 22% from the prior year to $179 million.
Reported earnings per share increased about 4% to $0.93 compared to $0.89 in the prior year, and adjusted earnings per share increased 27% to $1.21 compared to $0.95 in the prior year.
Margins continued to expand across all three segments over the prior year.
Revenue by Segment
Forward Guidance
Aptar expects earnings per share for Q1 2024, excluding restructuring expenses, changes in the fair value of equity investments and acquisition costs, to be in the range of $1.10 to $1.18.
Positive Outlook
- Demand for pharma’s proprietary drug delivery systems and elastomeric components for biologics to continue to grow.
- Beauty and closures segments to benefit from a progressive recovery of the North American market.
- Continued demand for fragrance dispensing technologies.
- Remain focused on reducing SG&A as a percentage of sales.
- Reducing fixed costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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