AptarGroup Earnings Beat Estimates in Q2, Increase Y/Y
AptarGroup, Inc. (NYSE: ATR) reported second-quarter 2024 adjusted earnings per share of $1.37, beating the Zacks Consensus Estimate of $1.36. The bottom line increased 12% year over year from $1.22 (including comparable exchange rates).
On a reported basis, earnings per share were $1.34 compared with the year-ago quarter’s $1.24.
Total revenues increased 1.6% year over year to $910 million in the reported quarter. The reported figure missed the Zacks Consensus Estimate of $923 million. Core sales, excluding currency and acquisition effects, improved 3% year over year. The upside was driven by the solid performance in the Pharma segment. We expected core sales to be up 2.6% in the quarter.
AptarGroup, Inc. Price, Consensus and EPS Surprise
AptarGroup, Inc. price-consensus-eps-surprise-chart | AptarGroup, Inc. Quote
Operational Update
Cost of sales fell 1.1% year over year to $567 million. Gross profit improved 6.3% year over year to $343 million. The gross margin expanded to 37.6% in the reported quarter compared with the prior-year quarter’s 36%.
Selling, research, development and administrative expenses increased 5.76% year over year to $149 million. Adjusted operating income increased 7.54% year over year to $128 million. The adjusted operating margin was 14% in the reported quarter, up from the year-ago …
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