Crystal Lake, Illinois, July 29, 2021 -- AptarGroup, Inc. (NYSE:ATR), a global leader in drug delivery, consumer product dispensing and active material science solutions, today reported second quarter results for 2021.
Second Quarter 2021 Summary
- Reported sales grew 16% driven by strong core sales growth and positive currency effects
- Core sales (excluding currency effects) increased 10% mainly on double digit core growth in Beauty + Home and Food + Beverage, driven by increased demand for our innovative dispensing solutions along with price adjustments related to rising input costs
- Reported earnings per share totaled $0.81 (an increase of 29% compared to the prior year)
- Adjusted earnings per share, excluding restructuring charges, acquisition costs and the loss on an equity investment, totaled $0.91 (an increase of 7% compared to the prior year when neutralizing currency effects)
- Reported net income totaled $55 million for the second quarter (an increase of 32% compared to the prior year) and $139 million year-to-date (an increase of 43% compared to the prior year)
- Adjusted EBITDA totaled $148 million for the second quarter (an increase of 8% compared to the prior year) and $300 million year-to-date (an increase of 7% compared to the prior year)
- Cash flow from operations was $176 million in the first half of 2021 (a decrease of 23% compared to the prior year)
- Free cash flow was $39 million in the first half of 2021 (a decrease of 63% compared to the prior year) primarily due to increased investments for growth (capital expenditures and working capital)
- Subsequent to the end of the quarter, the Company announced:
- A share purchase agreement regarding the acquisition of a majority stake in Voluntis, a pioneer in digital therapeutics
- A strategic collaboration with YAT, a Chinese online skincare company, to develop a range of products and services for the skincare market
- An agreement to acquire 80% of Weihai Hengyu Medical Products, adding elastomeric and plastic component manufacturing capabilities in China for injectable drug delivery
