Crystal Lake, Illinois, October 27, 2022 — 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 $54 million for the quarter ended September 30, 2022, a 15% increase over the prior year. Reported sales grew 1% and core sales, excluding currency and acquisition effects, increased by 9% over the prior year.
“Aptar performed well during the third quarter, delivering solid results while continuing to adapt to a challenging and uncertain economic backdrop. Our Pharma segment saw double-digit core sales growth, led by its prescription, consumer healthcare and active materials divisions. Beauty + Home had strong growth in Europe, especially in fragrance, but continued to be impacted by supply chain and labor issues in North America. Core sales in Food + Beverage were flat due to difficult comparisons with the prior year period, and were impacted by softening demand, especially in North America as our customers work off their inventory,” said Stephan B. Tanda, President and CEO, Aptar.
Third Quarter 2022 Summary
- Reported sales grew 1% and net income increased 15% to $54 million
- Core sales increased 9% and adjusted EBITDA was even with the prior year level of $154 million
- Reported earnings per share increased 16% to $0.81 compared to $0.70 in the prior year
- Adjusted earnings per share increased 12% to $0.95 compared to $0.85 in the prior year (including comparable exchange rates)
- Strong sales growth in the quarter driven by strong volume growth in Pharma
- Adjusted earnings per share includes a previously announced one-time inflation payment to certain European employees of approximately 5 cents per share
- Tax rate of 36% includes a one-time tax charge related to legal entity reorganization; without this charge our tax rate would have been 28%