Crystal Lake, Illinois, October 26, 2017 – AptarGroup, Inc. (NYSE: ATR), a global leader in innovative packaging technologies that build brand value, today announced its third quarter results.
Third Quarter 2017 Summary
- Reported sales increased 6% over the prior year driven by 3% core growth and a 3% favorable impact from exchange rates
- Each business segment achieved core sales growth
- Lower custom tooling sales negatively impacted the sales growth by 2%
- Reported net income (9% of net sales) increased to $54 million (+1%)
- EBITDA (19% of net sales) decreased to $118 million (-4%)
- Profit margins were negatively impacted by operational challenges at our decorative facility in Europe, higher professional fees, raw material cost increases and certain currency transaction losses
- Reported earnings per share were $0.83 compared to $0.82 in the prior year (+1%)
- Compared to the prior year, earnings per share for the current period included certain tax benefits amounting to approximately $0.05 related to foreign tax settlements and $0.01 related to stock-based compensation
