Crystal Lake, Illinois, February 16, 2023 — AptarGroup, Inc. (NYSE:ATR), a global leader in drug delivery, consumer product dispensing and active material science solutions and services, today reported net income of $59 million for the quarter ended December 31, 2022, a 2% increase over the prior year. Reported sales decreased 2% and core sales, excluding currency and acquisition effects, increased by 4% over the prior year.
Commenting on the fourth quarter and full year results, Stephan B. Tanda, Aptar President and CEO, said, “We finished the year with a solid quarter due to strong volume growth in our consumer healthcare and prescription divisions. Our beauty dispensing solutions, especially for prestige fragrance and skincare also had good volume growth for the quarter. Our efforts and commitment to being a sustainable company and good corporate citizen continue to be recognized. We were ranked #15 on America’s Most Responsible Companies 2023 by Newsweek, including #1 in the Materials & Chemicals category, as well as #70 on the World’s Top Female-Friendly Companies 2022 by Forbes. Lastly, we again achieved the EcoVadis Platinum level rating in recognition of our sustainability efforts. I am proud of the Aptar team, the continued progress we have made in 2022 and the opportunities we have created for 2023 and beyond.”
Fourth Quarter 2022 Summary
- Reported sales decreased 2% and net income increased 2% to $59 million
- Core sales increased 4% and adjusted EBITDA of $147 million decreased 4% from the prior year
- Core sales growth in the quarter was driven by strong volume growth in pharma and beauty, as well as price increases in the Beauty + Home segment
- Reported earnings per share increased 5% to $0.89 compared to $0.85 in the prior year
- Adjusted earnings per share increased 5% to $0.92 compared to $0.88 in the prior year (including comparable exchange rates)
- Announced the strategic realignment of two of its three segments
Annual 2022 Summary
- Each segment achieved top line growth with annual sales of $3.3 billion
- Sales growth driven evenly by volume growth and price increases
- Reported sales grew 3% and core sales increased 9%
- Reported earnings per share decreased 1% to $3.59
- Adjusted earnings per share increased 5% to $3.79
- Reported net income decreased 2% to $239 million
- Adjusted EBITDA increased 2% to $617 million
- 29th consecutive year of paying an increasing annual total dividend
- Operating cash flow was $479 million, up from $363 million in 2021
- Generated $196 million in free cash flow, up from $58 million in 2021
