NYSE$ATR

AptarGroup Inc. · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

AptarGroup reported a 2% increase in net income and a 2% decrease in reported sales for Q4 2022, with core sales increasing by 4%.

AptarGroup's Q4 2022 results showed a mixed performance, with net income increasing by 2% but reported sales decreasing by 2%. Core sales, excluding currency and acquisition effects, increased by 4%. The company saw strong volume growth in its consumer healthcare and prescription divisions, as well as in beauty dispensing solutions for prestige fragrance and skincare.

  • Reported sales decreased 2% and net income increased 2% to $59 million.
  • Core sales increased 4% and adjusted EBITDA of $147 million decreased 4% from the prior year.
  • Reported earnings per share increased 5% to $0.89 compared to $0.85 in the prior year.
  • Adjusted earnings per share increased 5% to $0.92 compared to $0.88 in the prior year (including comparable exchange rates).

Headline financials

Total Revenue

$796M

Previous: $814M-2.2%
EPS (adj)

$0.92

Previous: $0.93-1.1%
Total Core Sales Growth

4.0%

Previous: 10.0%-60.0%
Pharma Core Sales Growth

8.0%

Previous: 8.0%+0.0%
Beauty Core Sales Growth

2.0%

Previous: 7.0%-71.4%
Closures Core Sales Growth

-4.0%

Previous: 28.0%-114.3%
Capital Expenditures

$84.3M

Previous: $91.2M-7.6%
Free Cash Flow

$98.7M

Previous: $12.8M+669.7%
Net Income

$59.4M

Previous: $58M+2.4%
Operating Income

$85.2M

Previous: $87.4M-2.5%
Gross Profit

$276M

Previous: $292M-5.7%
Cash & Equivalents

$142M

Previous: $123M+15.3%
Total Assets

$4.2B

Previous: $4.14B+1.5%
Stock-Based Comp

$9M

Previous: $9.15M-1.7%

Revenue & EPS history

AptarGroup · Revenue · Quarterly

$796M

Q4 2022-2.2%vs Q4 2021
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Revenue by segment

AptarGroup · $796M total across 3 segments · Q4 2022

  • Beauty
    $339M-3.8%
  • Pharma
    $335M+0.9%
  • Closures
    $122M-5.8%

Forward guidance

Aptar expects earnings per share for the first quarter of 2023, excluding any restructuring expenses, changes in the fair value of equity investments and acquisition costs, to be in the range of $0.85 to $0.93.

Tailwinds

  • We expect the momentum to continue in Pharma, especially for prescription and consumer healthcare
  • Momentum to continue in our beauty end-markets such as fragrance and skincare.
  • A key focus in 2023 and beyond will be to continue to leverage our fixed cost base
  • Increase efficiencies in 2023
  • Increase efficiencies beyond 2023

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

+0.3%

Avg return

Earnings day

-0.1%

Avg return

5 days after

+1.2%

Avg return

30 days after

63%

43 / 68 earnings

Positive

+9.2%

Q4 2017

Best reaction

-9.0%

Q3 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.3%-0.8%-6.4%
Q4 2025+8.3%+12.9%+6.5%
Q3 2025-9.0%-7.1%+0.3%
Q1 2025+2.3%+2.1%+6.8%
Q4 2024-8.5%-9.4%-2.3%
Q3 2024+0.8%+0.6%+2.3%
Q2 2024+1.7%+1.1%+4.4%
Q1 2024+2.4%+3.1%+5.8%
Q4 2023+5.4%+3.1%+8.6%
Q3 2023+0.1%-0.9%+4.2%
Q2 2023+3.2%+2.1%+6.3%
Q1 2023+2.4%+4.1%-1.4%
Q4 2022+5.7%+4.2%+0.3%
Q3 2022+2.1%-1.9%+6.9%
Q2 2022+1.6%+0.5%-1.5%
Q1 2022+3.4%+2.5%-2.0%
Q4 2021+3.3%+3.8%+2.7%
Q3 2021-3.6%+1.7%+1.0%
Q2 2021-6.3%-6.6%-2.3%
Q1 2021-0.2%+2.6%-2.5%
Q4 2020-7.7%-10.4%-2.7%
Q3 2020+1.6%+6.4%+13.3%
Q2 2020-3.0%-0.2%-0.6%
Q1 2020-3.6%-4.1%+1.2%
Q4 2019-2.6%-7.0%-19.6%
Q3 2019-7.1%-8.9%-6.0%
Q2 2019-5.0%-5.4%-1.3%
Q1 2019+1.3%+2.3%+2.0%
Q4 2018+1.5%+0.0%+2.2%
Q3 2018+1.8%+2.1%+2.0%
Q2 2018+8.6%+8.1%+9.6%
Q1 2018+0.3%+0.4%+1.0%
Q4 2017+9.2%+11.8%+9.6%
Q3 2017-0.6%-1.6%-2.5%
Q2 2017-6.5%-6.3%-6.4%
Q1 2017+1.2%+1.1%+6.3%
Q4 2016+1.7%+0.4%+4.4%
Q3 2016-4.3%-7.4%-0.3%
Q2 2016-1.9%-3.9%-1.6%
Q1 2016-3.1%
Q4 2015-2.8%
Q3 2015+2.4%
Q2 2015+8.3%
Q1 2015+2.4%
Q4 2014+1.8%
Q3 2014+2.0%
Q2 2014-3.5%
Q1 2014-0.1%
Q4 2013+1.9%
Q3 2013+0.2%
Q2 2013-2.1%
Q1 2013-2.0%
Q4 2012-0.8%
Q3 2012-3.5%
Q2 2012+2.6%
Q1 2012+0.9%
Q4 2011+0.1%
Q3 2011+5.8%
Q2 2011-5.0%
Q1 2010+2.2%
Q1 2011+2.3%
Q4 2008+1.5%
Q4 2010+1.5%
Q3 2010+2.9%
Q3 2009+2.9%
Q4 2009+0.5%
Q2 2009+0.5%
Q2 2010+0.5%

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