Crystal Lake, Illinois, July 27, 2017 — AptarGroup, Inc. (NYSE:ATR) today announced its second quarter results.
Second Quarter 2017 Summary
- Reported sales were in line with the prior year
- Excluding the negative impact from changes in foreign currency exchange rates, core sales increased 1% as robust core sales growth in the Pharma and Food + Beverage segments offset a decline in Beauty + Home
- Reported net income (11% of net sales) increased to $65 million (+10%) primarily due to a lower effective tax rate
- EBITDA (20% of net sales) decreased to $124 million (-7%) primarily due to decreases in business in certain markets and higher raw material costs
- Reported earnings per share were $1.01 compared to $0.91 reported in the prior year (+11%) and $0.90 in the prior year when adjusting for changes in currency exchange rates (+12%)
- Current period earnings per share included certain tax benefits equivalent to $0.09 per share related to stock-based compensation and $0.05 per share primarily related to the Company’s planned cash repatriation activities