Earnings summaries and quarterly performance for APTARGROUP.
Executive leadership at APTARGROUP.
Stephan B. Tanda
President and Chief Executive Officer
Gael Touya
President of Aptar Pharma
Hedi Tlili
President of Aptar Closures
Kimberly Y. Chainey
Executive Vice President, Chief Legal Officer and Secretary
Marc Prieur
President of Aptar Beauty
Vanessa Kanu
Executive Vice President and Chief Financial Officer
Xiangwei Gong
Executive Vice President, Strategic Group Development and President of Aptar Asia
Board of directors at APTARGROUP.
B. Craig Owens
Director
Candace Matthews
Chair of the Board
George L. Fotiades
Director
Giovanna Kampouri Monnas
Director
Isabel Marey-Semper
Director
Julie Xing
Director
Matt Trerotola
Director
Ralf K. Wunderlich
Director
Sarah Glickman
Director
Research analysts who have asked questions during APTARGROUP earnings calls.
Daniel Rizzo
Jefferies
4 questions for ATR
Gabe Hajde
Wells Fargo & Company
4 questions for ATR
George Staphos
Bank of America
4 questions for ATR
Ghansham Panjabi
Robert W. Baird & Co.
4 questions for ATR
Matthew Larew
William Blair & Company
3 questions for ATR
Matthew Roberts
Raymond James
3 questions for ATR
Recent press releases and 8-K filings for ATR.
- Aptar's Pharma business is the primary growth and profit engine, representing 46% of the company and two-thirds of its EBITDA, with its pipeline's average weighted value increasing 54% since 2019.
- The company has significantly invested in its Injectables business, bringing new capacity online in 2025 across the US, China, and Europe, to capitalize on the exploding GLP-1 market.
- Aptar anticipates a $65 million year-over-year headwind in Narcan sales, expected primarily in the first half of 2026, following a 50% growth in the first half of 2025 and subsequent inventory normalization.
- Aptar maintains a balanced capital allocation strategy, investing 70% in business growth and returning 30% to shareholders, including a 32-year streak of rising dividends and significant share repurchases in 2025.
- Aptar's Pharma business is the largest segment, contributing 46% of revenue and two-thirds of EBITDA, with a top-line growth guidance of 7-11% and 32-36% EBITDA margin.
- The company's Pharma pipeline has significantly increased since 2019, with a 54% rise in average weighted value and a 46% increase in opportunities, driven by systemic nasal drug delivery, nose-to-brain applications, and injectables, particularly for GLP-1s.
- Aptar anticipates a $65 million year-over-year headwind in the first half of 2026 due to a "reset" in Narcan sales following inventory build-up, though long-term growth for the medication is still expected.
- The capital allocation strategy involves approximately 70% investment in business growth (organic and inorganic) and 30% return to shareholders, including 32 years of rising dividends and opportunistic share buybacks, with $270 million remaining in authorization at the end of Q3, expected to be fully utilized in Q4 and Q1.
- The Beauty and Closures businesses have undergone significant renovation and are now in "good fighting shape," showing positive growth signals.
- Aptar's Pharma business is the company's largest segment, contributing 46% of the company and two-thirds of EBITDA, driven by proprietary drug delivery systems and a growing pipeline. The overall Pharma market is growing at 7%.
- The company's Pharma pipeline has seen substantial growth, with the average weighted value increasing 54% and the number of opportunities rising 46% since 2019, focusing on systemic nasal drug delivery, biologics for injectables, and new propellants.
- Aptar's injectables business is experiencing an "exploding" market, particularly with GLP-1s, and has made significant investments in capacity across Europe, the U.S. (Congers, New York), and China to meet demand.
- Capital allocation prioritizes investing 70% into business growth (organic and inorganic) and 30% to shareholders, including 32 years of rising dividends and opportunistic share buybacks. The company expects to fully utilize $270 million in share buyback authorization in Q4 (previous year) and Q1 (current year).
- Narcan sales are undergoing a reset following 50% growth in the first half of 2025, leading to an expected $65 million year-over-year headwind largely in the first half of 2026 due to channel inventory build-up.
- Aptar's Bidose Liquid Nasal Spray System is the delivery mechanism for CARDAMYST™ (etripamil), the first and only self-administered FDA-approved nasal spray for paroxysmal supraventricular tachycardia (PSVT) in adults.
- Developed by Milestone Pharmaceuticals, CARDAMYST received U.S. Food and Drug Administration (FDA) approval for converting acute symptomatic episodes of PSVT to sinus rhythm.
- This approval broadens Aptar’s drug delivery solutions into new therapeutic areas and underscores the increasing demand for nasal drug delivery.
- An estimated two million people in the United States are diagnosed with PSVT, indicating a significant market for this new treatment.
- AptarGroup, Inc. completed an underwritten public offering of $600 million aggregate principal amount of its 4.750% Senior Notes due 2031 on November 20, 2025.
- The Notes mature on March 30, 2031, and bear interest at an annual rate of 4.750%, payable semi-annually in arrears on March 30 and September 30 of each year, beginning March 30, 2026.
- The Company may redeem the Notes at its option prior to February 28, 2031 (the "Par Call Date"), at a make-whole redemption price, and at 100% of the principal amount on or after the Par Call Date.
- These Notes are unsecured obligations of the Company and rank equally in right of payment with all of the Company’s other existing and future senior unsecured indebtedness.
- AptarGroup's pharma business is a key driver, contributing almost 70% of EBITDA, focusing on proprietary drug delivery devices. This segment has seen strong performance with top-line growth of 7%-11% and adjusted EBITDA growth of 26% in recent years, with profitability in the 32%-36% EBITDA range.
- The company has a strong track record of capital returns, including 32 years of annually increasing dividends and a recent 7% dividend increase.
- Capital deployment prioritizes the high-returning pharma business. AptarGroup has returned $8 billion in dividends and $6 billion in share repurchases over the last seven years.
- AptarGroup has leaned into share repurchases, having executed approximately $190 million or 1.3 million shares year-to-date through Q3, and plans to exhaust the remaining $273 million in authorized buybacks.
- The injectable segment, boosted by GLP-1, is a significant growth driver within pharma, expected to reach 20% of pharma injectables or more. CapEx is anticipated to remain steady-state, with no major new site investments planned for the coming years.
- AptarGroup's pharma business is the primary profit driver, contributing almost 70% of EBITDA and achieving 7%-11% top-line growth and 26% adjusted EBITDA growth in recent years.
- The company has a strong track record of 32 years of annually increasing dividends and recently announced a 7% dividend increase, with a payout ratio at the lower end of its 30%-40% target.
- Aptar is actively engaged in share repurchases, having bought back $190 million or 1.3 million shares year-to-date through Q3, with $273 million remaining in board-authorized funds.
- Capital deployment prioritizes the pharma business due to its high returns and rapid growth, with the injectables business (fueled by GLP-1) being a significant growth driver, though proprietary nasal delivery remains the larger and more profitable segment.
- AptarGroup's pharma business is the primary profit engine, contributing almost 70% of EBITDA, driven by proprietary drug delivery systems for chronic diseases, with 7%-11% top-line growth in recent years and 32%-36% EBITDA profitability.
- The company has a 32-year track record of annually increasing dividends, recently announcing a 7% increase, and prioritizes capital deployment towards its high-returning pharma business.
- AptarGroup's injectables business, particularly GLP-1, is a significant growth driver, though nasal delivery remains the largest and most profitable pharma segment.
- Management believes the stock price reaction to the Narcan pullback is "overdone" and has been actively executing share repurchases, with $190 million (1.3 million shares) bought back year-to-date to Q3 and $273 million remaining in authorization.
- Future capital expenditure is expected to be steady state, focusing on additional equipment and capacity within existing facilities rather than large new site constructions.
- AptarGroup reported a 6% increase in reported sales and 1% core sales growth for Q3 2025, with adjusted earnings per share (EPS) rising 4% year-over-year to $1.62. Consolidated adjusted EBITDA margins improved by 30 basis points to 23.2%.
- The Pharma segment's core sales increased 2%, primarily driven by an 18% rise in injectables, contributing to a 120 basis point improvement in its adjusted EBITDA margin to 37.2%. Beauty core sales were flat, and Closures core sales decreased 1%.
- The company increased its quarterly dividend by nearly 7% to $0.48 per share and has repurchased $190 million in shares year-to-date, with the remaining $270 million of authorization expected to be utilized over the next couple of quarters.
- For Q4 2025, adjusted EPS is projected to be between $1.20 and $1.28 per share. The company anticipates a significant headwind in emergency medicine, expecting 2026 revenues from this segment to be approximately 35% lower than 2025 due to elevated customer inventory levels.
- Aptar delivered Q3 2025 reported sales of $961 million, marking a 6% reported sales growth and 1% core sales growth.
- Q3 2025 Reported Earnings Per Share (EPS) was $1.92, representing a 30% increase, while Adjusted EPS grew 4% to $1.62.
- The Pharma segment demonstrated strong performance, with injectables core sales increasing 18% and its Adjusted EBITDA Margin improving by 120 basis points.
- For the full year-to-date 2025, reported sales reached $2,814 million and reported EPS was $4.75.
- Aptar projects Q4 2025 Adjusted EPS to be in the range of $1.20 to $1.28.
Quarterly earnings call transcripts for APTARGROUP.
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