Crystal Lake, Illinois, April 30, 2020 — AptarGroup, Inc. (NYSE:ATR) today reported first quarter results for 2020 and provided an update related to COVID-19 including the Company’s continued ability to supply essential solutions to critical industries.
First Quarter 2020 Summary
- Reported sales decreased 3% and included negative effects from changes in currency exchange rates, passing on lower resin costs and COVID-19 impacts
- Core sales, excluding currency and acquisition effects, decreased 2%
- Core sales growth of 7% in our Pharma segment was offset by decreases in core sales in our other segments
- A one-time cash Thank You Award was granted to employees who have made it possible for Aptar to continue to supply critical infrastructure industries during the COVID-19 crisis; $3.6 million of expense (pretax) is included in first quarter reported and adjusted earnings and a similar amount is expected to be recognized in the second quarter
- Reported earnings per share totaled $0.84 (a decrease of 13%compared to the prior year)
- Adjusted earnings per share totaled $0.93 (a decrease of 11% compared to the prior year)
- Reported net income totaled $55 million (a decrease of 12% compared to the prior year)
- Adjusted EBITDA totaled $144 million (a decrease of 7% compared to the prior year)
- Cash flow from operations was $85 million (compared to $78 million in the prior year)
- Free cash flow was $23 million (compared to $26 million in the prior year)
- Declared quarterly dividend of $0.36 per share
- Subsequent to the end of the quarter, completed the acquisition of FusionPKG
- Undergoing daily monitoring of the COVID-19 pandemic and taking actions to maintain a continuity of supply while focusing on the health and safety of our people
