Aptar Reports Fourth Quarter and Annual Results; Recaps Year of Pharma Services Acquisitions and Multiple New Drug Delivery Launches; Highlights Strategic Steps to Strengthen Beauty Business
Crystal Lake, Illinois, February 20, 2020 — AptarGroup, Inc. (NYSE: ATR), a global leader in consumer dispensing, active packaging and drug delivery solutions and services, today reported its fourth quarter and full year 2019 financial results.
Fourth Quarter 2019 Summary
- Reported sales decreased 2% and were negatively affected by changes in currency exchange rates
- Core sales, excluding currency and acquisition effects, declined 1% including a negative impact from passing on lower resin costs
- Core sales growth in our Pharma segment was offset by decreases in core sales in our other segments
- Reported earnings per share of $0.73 (up 18% compared to the prior year)
- Adjusted earnings per share of $0.80 (down 13% compared to the prior year)
- Reported net income of $49 million (up 19% compared to the prior year)
- Adjusted EBITDA of $131 million (down 7% compared to the prior year)
- Subsequent to the end of the quarter:
- Completed the previously announced equity investment in BTY, a leading Chinese provider of decorative and complete color cosmetics packaging solutions
- As previously announced, entered into a binding agreement to acquire FusionPKG, a design and rapid go-to-market specialist for the North American beauty market
- Announced plans to consolidate North American Beauty + Home footprint
Annual 2019 Summary
- Reported sales increased 3%
- Core sales, excluding currency and acquisition effects, grew 3%
- Reported earnings per share of $3.66 (up 22% compared to the prior year)
- Adjusted earnings per share of $3.95 (up 2% compared to the prior year)
- Reported net income of $242 million (up 24% compared to the prior year)
- Adjusted EBITDA of $592 million (up 8% compared to the prior year)
- Net cash provided by operations of $514 million
- Free cash flow of $272 million
- Raised cash dividend 6% and achieved our 26th consecutive year of paying increased dividends
- Returned $177 million to shareholders for the year in dividends and share repurchases
- Acquired strategic Pharma services (Nanopharm, Gateway Analytical, Noble International)
- Made strategic investment in sustainable solutions partners PureCycle and Terracycle’s Loop
- Named one of America’s Most Responsible Companies by Newsweek
- Named one of America’s Most Sustainable Companies by Barron’s
