AptarGroup, Inc. - ATR STOCK NEWS

AptarGroup (NYSE:ATR) reported strong Q3 2024 results with a 2% increase in both reported and core sales to $909 million. Net income rose 19% to $100 million, with earnings per share up 17% to $1.48. The Pharma segment led growth with 8% reported sales increase, while Closures grew 3% and Beauty declined 7%. The company achieved an adjusted EBITDA of $208 million, delivering a 23% margin. For Q4 2024, Aptar expects earnings per share between $1.22 and $1.30, targeting double-digit adjusted EPS growth for the full year.

AptarGroup, Inc. (NYSE: ATR) has been awarded a $4.8 million, five-year contract from the U.S. Federal Government to advance development of its ActivShield™ technology. This innovative solution sterilizes medical devices and instruments without a power source, making it suitable for rural areas, military settings, and healthcare facilities with sterilization capabilities.

ActivShield™ uses Aptar CSP Technologies' 3-Phase Activ-Polymer™ platform and emits controlled chlorine dioxide gas for sterilization. It offers advantages over conventional methods, including portability, no infrastructure requirements, and absence of health risks associated with Ethylene Oxide (EtO). The technology can be custom-engineered, is stable, compact, and manufactured in the United States.

This advancement could significantly reduce infection risks in remote or emergency response settings and decrease reliance on expensive and unsafe sterilization techniques. For the military, it can provide access to sterilized instruments in far-forward environments during critical pre-hospitalization periods.

AptarGroup, Inc. (NYSE: ATR) has announced a new $500 million share repurchase authorization, replacing all previous authorizations. The company may repurchase shares through various methods, subject to market conditions. Additionally, Aptar declared a quarterly cash dividend of $0.45 per share, payable on November 14, 2024, to stockholders of record as of October 24, 2024.

CEO Stephan Tanda highlighted Aptar's balanced approach to capital allocation, focusing on returning capital to shareholders and reinvesting in the business. Over the past five years, Aptar has returned more than $780 million to stockholders through dividends and share repurchases. The company maintains flexibility in the timing and amount of share repurchases based on various factors.

AptarGroup, Inc. (NYSE: ATR) announced that its N-Sorb nitrosamine mitigation solution has been accepted into the U.S. FDA's Emerging Technology Program (ETP). N-Sorb uses Aptar CSP Technologies' 3-Phase Activ-Polymer™ platform to address N-nitrosamine impurities in pharmaceuticals, which are classified as probable human carcinogens.

The technology can be integrated into blister packaging or container closure systems, reacting with nitrosamine precursors and scavenging impurities. This active packaging intervention could eliminate the need for drug reformulation, supporting compliance with FDA and EMA regulations. The FDA's acceptance of N-Sorb into the ETP is seen as a significant step, as the program is highly selective and reserved for promising healthcare solutions.

AptarGroup, Inc. (NYSE: ATR) announced that its Unidose Liquid System is the delivery system approved for neffy® (epinephrine nasal spray), the first FDA-approved needle-free treatment for Type I allergic reactions, including anaphylaxis. This marks the first worldwide regulatory approval for nasally-delivered epinephrine. Aptar's Unidose is a single-use, ready-to-use, one-step nasal delivery system that administers neffy during severe allergic reactions. The system's design promotes ease of use and adherence for patients and caregivers. Aptar Pharma Services supported the development process, helping to accelerate approval for this novel Combination Product submission.

AptarGroup, Inc. (NYSE: ATR) has announced the appointment of Daniel Ackerman as its new Chief Accounting Officer, effective August 1, 2024. Ackerman, who joined Aptar in 2015 as Vice President, Corporate Controller, has been praised for his exemplary leadership and role in the company's cost management initiatives. He will continue to lead all corporate finance and accounting functions, while also contributing to Aptar's long-term financial planning strategy.

Ackerman's background includes international experience in Latin America and Asia with The Goodyear Tire & Rubber Company, as well as previous work at KPMG. He is a Certified Public Accountant (CPA) with Bachelor of Science degrees in Accounting and Finance from the University of Akron.

AptarGroup, Inc. (NYSE: ATR) announced significant leadership changes in its finance department. Bob Kuhn, Executive Vice President and CFO since 2008, will retire at the end of 2024 after 37 years with the company. Vanessa Kanu, a finance veteran with over 25 years of experience, will become the new CFO on January 1, 2025.

Kuhn's tenure as CFO saw him lead Aptar's global financial and IT functions, as well as spearhead M&A activities. Kanu, who most recently served as CFO of TELUS International, brings extensive experience in financial reporting, global operations, and cost management. She will lead Aptar's global finance organization, including planning, treasury, tax, financial reporting, financial operations, and IT.

AptarGroup (NYSE:ATR) reported solid second quarter results for 2024, with reported sales increasing 2% and core sales growing 3%. The company's net income rose 9% to $90 million, driven by strong growth in proprietary drug delivery systems and margin improvement. Earnings per share increased 8% to $1.34, while adjusted EPS grew 12% to $1.37.

The Pharma segment led growth with a 6% increase in reported sales and 7% in core sales. Beauty and Closures segments saw slight declines. For the first six months of 2024, Aptar achieved double-digit earnings growth and strong net cash provided by operations. The company also increased its quarterly dividend by 10% to $0.45 per share.

AptarGroup, a leader in drug delivery and consumer product technologies, has announced a nearly 10% increase in its quarterly dividend to $0.45 per share. This elevates the annualized dividend to $1.80 per share, payable on August 15, 2024, to shareholders recorded by July 25, 2024. President and CEO Stephan B. Tanda highlighted the company's robust performance and future growth prospects as reasons for this increase. Over the past five years, Aptar has returned over $780 million to shareholders through dividends and share repurchases. This marks the 31st consecutive year of increasing annual dividends. Additionally, Aptar will discuss its Q2 2024 results during a conference call on July 26, 2024.