Crystal Lake, Illinois, February 6, 2025 — AptarGroup, Inc. (NYSE:ATR), a global leader in drug and consumer product dosing, dispensing and protection technologies, today reported strong fourth quarter results due to solid operational performance driven by top and bottom line improvements. Results were driven by sales growth in pharma solutions, increased demand for closures technologies and productivity gains across the company. Reported sales increased by 1% and core sales increased by 2% due to a negative currency effect. Aptar reported net income of $101 million for the quarter, a 62% increase from the prior year. In addition, the quarterly results benefited from a lower effective tax rate.
“Aptar achieved another strong quarter and year, delivering back-to-back years of double-digit earnings per share growth. For the full year, our pharma franchise grew sales 8%, propelled by brisk demand for our proprietary drug delivery systems, which grew 9% in 2024. Our closures segment also finished the year strong with solid performance and good momentum. Net income for full year 2024 grew 32% over the prior year and we ended 2024 solidly in the middle of our long-term adjusted EBITDA margin range, with significant margin expansion in our pharma and closures segments. Our beauty segment was able to improve its margin even with a challenged top line, driven by increased productivity and cost management efforts. In 2024, net cash provided by operations increased 12% along with lower capital expenditures, which generated a free cash flow increase of 40%,” said Stephan B. Tanda, Aptar President and CEO.
Fourth Quarter 2024 Highlights
• Reported sales increased 1% and reported net income increased 62% to $101 million
• Core sales increased 2% and adjusted EBITDA increased 9% from the prior year to $195 million
• Reported earnings per share increased 60% to $1.49 and adjusted earnings per share increased 27% to $1.52
• Achieved an adjusted EBITDA margin of 23%, at the high end of the long-term target range
Annual 2024 Highlights
• Reported and core sales grew 3%, with annual sales of $3.6 billion, driven by favorable product mix and volume growth
• Delivered 30% diluted earnings per share growth and achieved 18% adjusted earnings per share growth
• Net income grew 32% to $375 million
• Net cash provided by operations increased 12% and free cash flow increased 40%
• 2024 was our 31st consecutive year of paying an annually increasing dividend
