Key Points – AptarGroup reported record second-quarter sales of approximately $1 billion, up 6% year over year, while adjusted EPS of $1.42 exceeded guidance.
However, adjusted EBITDA fell 3% and the margin declined to 20.7% amid weaker emergency medicine sales, operating challenges and higher costs. – Pharma remained the strongest area, with core sales up 8% excluding the anticipated emergency medicine decline, supported by consumer healthcare, injectables and demand tied to GLP-1 therapies and biologics
Beauty and Closures also posted sales growth, but both faced significant margin pressure from lower volumes, unfavorable mix and production costs. – Aptar forecast third-quarter adjusted EPS of $1.45 to $1.53 and expects growth across all three segments. CEO Stephan Tanda will retire later this year, with Gael Touya scheduled to become CEO on Sept. 1 and focus on profitable growth, execution and capital allocation. AptarGroup (NYSE:ATR) reported second-quarter sales growth across each of its three segments and adjusted earnings per share above its guidance range, supported by stronger-than-expected performance in its Pharma business.
The company also said President and CEO Stephan Tanda will retire later this year, with President and CEO Designate Gael Touya set to assume the CEO role on Sept. 1. Reported second-quarter sales increased 6% to approximately $1 billion, a quarterly record, while core sales, which exclude currency effects and acquisitions, rose 1% from a year earlier. Adjusted EBITDA declined 3% to $213 million, and adjusted EBITDA margin fell to 20.7% from 22.6% in the prior-year period.