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Aptar Reports Second Quarter 2020 Results

Short Description: 
Crystal Lake, Illinois, July 30, 2020 — AptarGroup, Inc. (NYSE:ATR) today reported second quarter results for 2020 and provided an update related to COVID-19 including the Company’s ability to supply essential products for critical industries and continued health and safety measures being implemented across its global facilities.
News: 

Second Quarter 2020 Summary Reported sales and core sales decreased 6% primarily due to the negative effects of COVID-19 on the beauty and beverage markets as well as passing on lower resin costs; negative currency effects were offset by contributions coming from acquisitions Reported sales growth of 7% and core sales growth of 6% in our Pharma segment was offset by decreases in reported sales and core sales in our Beauty + Home and Food + Beverage segments “Thank You Award” costs of $3.6 million (pretax) were included in second quarter reported and adjusted earnings; this one-time Award was granted to employees who made it possible for Aptar to continue to supply critical infrastructure industries during the initial phases of the COVID-19 crisis Reported earnings per share totaled $0.63 (a decrease of 44% compared to the prior year) Adjusted earnings per share totaled $0.80 (a decrease of 30% compared to the prior year) Reported net income totaled $42 million (a decrease of 43% compared to the prior year) Adjusted EBITDA totaled $137 million (a decrease of 15% compared to the prior year) Cash flow from operations was $228 million in the first half of 2020 (an increase of 3% compared to the prior year) Free cash flow was $105 million in the first half of 2020 (an increase of 9% compared to the prior year) Declared quarterly dividend of $0.36 per share Subsequent to the end of the quarter, Kimberly Y. Chainey joined Aptar as EVP General Counsel and is a member of the Executive Committee

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