AptarGroup Reports Record Q2 Sales but Faces EBITDA Margin Decline
AptarGroup reported record second-quarter sales of approximately $1 billion, a 6% increase year over year. Adjusted earnings per share (EPS) came in at $1.42, exceeding guidance despite adjusted EBITDA declining by 3%. The drop was attributed to weaker emergency medicine sales and higher costs across segments. Pharma remained the strongest segment with core sales up 8%, excluding a decline from emergency medicine demand. Beauty and Closures also saw growth but faced margin pressure due to lower volumes, unfavorable product mix, and production challenges. Management expects continued growth in Q3 and highlighted progress on GLP-1 therapies and biologics projects. CEO Stephan Tanda is set to retire later this year with Gael Touya taking over as CEO effective September 1. CFO Vanessa Kanu noted that the EBITDA decline was driven by lower emergency medicine sales, operating challenges in Beauty and Closures, higher depreciation from recent investments, and increased interest expenses.
Tickers: $ATR
Topics: beauty closures leadership_change pharma