AptarGroup (NYSE: ATR) grows Q1 2026 sales, guides Q2 EPS $1.32–$1.40
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
AptarGroup reported mixed first quarter 2026 results, with solid top-line growth but softer profit metrics. Net sales rose 11% to $982.9 million, while reported net income declined 8% to $72.8 million and diluted earnings per share slipped to $1.12 from $1.17.
On an adjusted basis, earnings per share were $1.19, down from $1.30 a year earlier at comparable exchange rates, and adjusted EBITDA margin narrowed to 19.2% from 20.7% as mix and operational issues weighed on profitability. Pharma and Closures saw core sales pressure from emergency medicine destocking, lower resin pricing and temporary plant disruptions, while Beauty delivered 3% core growth.
The company returned $131 million to shareholders through dividends and share repurchases in the quarter, including buying back 707,000 shares for $100 million, and the board approved a quarterly dividend of $0.48 per share. For the second quarter of 2026, AptarGroup expects adjusted earnings per share between $1.32 and $1.40, assuming an effective tax rate of 22.5% to 24.5% and a 1.18 EUR/USD exchange rate. The company also announced that Gael Touya will become CEO effective September 1, 2026.
Positive
- None.
Negative
- None.
Insights
Revenue is strong, but margins and EPS are under pressure.
AptarGroup grew Q1 2026 net sales 11% to $982.9M, driven by all three segments and favorable currency. However, core sales were flat, meaning most growth came from acquisitions and exchange rates rather than underlying volume and pricing.
Profitability softened: reported net income fell 8% to $72.8M and adjusted EPS declined to $1.19, with adjusted EBITDA margin down to 19.2%. Segment margins compressed in Pharma, Beauty and Closures due to less favorable mix, maintenance issues, temporary plant closures from extreme weather, and investment write‑offs, alongside emergency medicine destocking.
Management guides Q2 2026 adjusted EPS to $1.32–$1.40, referencing continued strength in injectables, consumer healthcare and Beauty fragrance, and expecting Closures to have a strong quarter. Execution on resolving operational disruptions and the pace of emergency medicine normalization will be important factors for upcoming quarters, based on disclosures for the period ending June 30, 2026.
8-K Event Classification
3 items: 0.05, 2.02, 9.01
3 items
Item 0.05
Item 0.05
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net sales: $982.9M
Net income: $72.8M
Diluted EPS: $1.12
+5 more
8 metrics
Net sales
$982.9M
Q1 2026, up 11% from $887.3M in Q1 2025
Net income
$72.8M
Q1 2026, down from $78.7M in Q1 2025
Diluted EPS
$1.12
Q1 2026, versus $1.17 in Q1 2025
Adjusted EPS
$1.19
Q1 2026, versus $1.30 a year earlier at constant currency
Adjusted EBITDA
$188.9M
Q1 2026; margin 19.2% of reported net sales
Free cash flow
$53.3M
Q1 2026, up from $25.9M in Q1 2025
Share repurchases
$100M
Q1 2026, 707,000 shares bought back
Q2 2026 adjusted EPS guidance
$1.32–$1.40
Expected adjusted EPS range for quarter ending June 30, 2026
Key Terms
core sales, adjusted EBITDA margin, free cash flow, non-GAAP financial measures, +2 more
6 terms
core sales financial
"Reported sales increased 11% and core sales were flat"
Core sales are the revenue generated by a company's main, ongoing business activities after removing one-time or unusual items such as proceeds from asset sales, discontinued operations, or temporary boosts. Investors care because core sales show the steady, repeatable demand for a company’s products or services—like judging a store by its regular weekly receipts rather than a single big clearance sale—to better assess growth trends and future earnings potential.
adjusted EBITDA margin financial
"Adjusted EBITDA margin was 19.2% compared to 20.7% in the prior year"
Adjusted EBITDA margin shows how much profit a company makes from its core operations, expressed as a percentage of its total revenue, after removing certain one-time or unusual expenses and income. It helps investors understand the company's true earning ability from regular business activities, making it easier to compare performance over time or with other companies. Think of it as measuring the efficiency of a business in turning sales into profits, excluding irregular adjustments.
free cash flow financial
"Free Cash Flow ... $ 53,298 ... $ 25,880"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
non-GAAP financial measures financial
"This press release refers to certain non-GAAP financial measures"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
destocking financial
"first quarter results were impacted by emergency medicine destocking"
GLP-1 therapies medical
"growing demand in key areas including GLP-1 therapies, biologics, systemic nasal drug delivery"
Drugs that mimic or boost the gut hormone GLP‑1, which helps control blood sugar and appetite by telling the body to release more insulin and feel full sooner; they are used to treat type 2 diabetes and obesity. Investors watch these therapies because they can drive large prescription sales, change healthcare spending and market share among drugmakers, and face regulatory, patent and competitive risks that directly affect company value.
Earnings Snapshot
Revenue: $982.9M · Guidance included
Q1 2026
Revenue
$982.9M
+11% YoY
Net income
$72.8M
-8% YoY
Diluted EPS
$1.12
-$0.05 YoY
Adjusted EPS
$1.19
-$0.11 YoY at constant currency
Adjusted EBITDA margin
19.2%
-1.5 percentage points YoY
Free cash flow
$53.3M
up from $25.9M YoY
Q2 2026 adjusted EPS guidance
$1.32–$1.40
guidance range provided
Guidance
For Q2 2026, AptarGroup expects adjusted EPS between $1.32 and $1.40, assuming an effective tax rate of 22.5%–24.5% and a 1.18 Euro to U.S. dollar exchange rate.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices)
Registrant’s telephone number, including area code: 815 -477-0424 .
| N/A | ||
| (Former name or former address, if changed since last report) | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On April 30, 2026, AptarGroup, Inc. announced certain information related to its results of operations for the quarter ended March 31, 2026. The press release regarding this announcement is furnished as Exhibit 99.1 hereto.
The information in Item 2.02 of this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
| (d) Exhibits | ||||||||
| 99.1 | Press release issued by AptarGroup, Inc. dated April 30, 2026. | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| AptarGroup, Inc. | |||||||||||
Date: April 30, 2026 | By: | /s/ Vanessa Kanu | |||||||||
| Vanessa Kanu | |||||||||||
| Executive Vice President and | |||||||||||
| Chief Financial Officer | |||||||||||
Exhibit 99.1
Aptar Reports First Quarter 2026 Results
Crystal Lake, Illinois, April 30, 2026 -- AptarGroup, Inc. (NYSE:ATR), a global leader in drug delivery and consumer product dispensing, dosing and protection technologies, today reported the following first quarter results for the period ended March 31, 2026, as compared to the corresponding period of the last fiscal year.
First Quarter 2026 Highlights
(Compared to the prior year quarter; see Non-GAAP section for full definitions; see reconciliation for Non-GAAP measures)
•Reported sales increased 11% and core sales were flat
•Reported net income decreased 8% to $73 million and reported earnings per share decreased 4% to $1.12
•Adjusted earnings per share were $1.19, a decrease of 8%, compared to the prior year at constant currency
•Adjusted EBITDA margin was 19.2% compared to 20.7% in the prior year
•Returned $131 million to shareholders through share repurchases and dividends
•Gael Touya named Aptar’s next CEO effective September 1, 2026
“Across the broader Pharma portfolio, we continue to see growing demand in key areas including GLP‑1 therapies, biologics, systemic nasal drug delivery, nasal decongestants, ophthalmic dispensing, and active material solutions. As anticipated, first quarter results were impacted by emergency medicine destocking, with comparisons further challenged by the exceptionally strong prior-year quarter for the prescription division. The injectables division delivered another quarter of strong, double-digit growth. Consumer dispensing also contributed positively, with volume growth across Beauty and Closures, supported by robust demand in prestige fragrance and beverage applications,” said Stephan B. Tanda, Aptar President and CEO.
First Quarter Results
For the quarter ended March 31, 2026, reported sales increased 11% to $982.9 million compared to $887.3 million in the prior year period. Core sales were flat compared to the prior year period.
First Quarter Segment Sales Analysis (Change Over Prior Year) | ||||||||||||||
| Pharma | Beauty | Closures | Total AptarGroup | |||||||||||
| Reported Sales Growth | 7% | 19% | 5% | 11% | ||||||||||
Currency Effects (1) | (7)% | (9)% | (5)% | (8)% | ||||||||||
| Acquisitions | (1)% | (7)% | 0% | (3)% | ||||||||||
| Core Sales Growth | (1)% | 3% | 0% | 0% | ||||||||||
(1) - Currency effects are approximated by translating last year's amounts at this year's foreign exchange rates.
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Pharma’s reported sales increased 7% when compared to the prior year period, with a currency contribution of 7%. Excluding acquisitions, core sales declined 1% in the quarter when compared to the prior year period. In the prescription division, sales for dispensing systems declined 10% primarily due to reduced sales in the emergency medicine category, as anticipated, while the pipeline for systemic nasal drug delivery continued to build. Consumer healthcare sales increased 4% on strong nasal decongestant and eye care solutions. Sales in the injectables division increased 20%, mainly driven by growth in demand for elastomeric components used for GLP-1, biologics and antithrombotics. Active material science solutions declined 1% due primarily to lower sales for diabetes test strips and probiotics. Adjusted EBITDA margin was 33.3%, a decrease of 150 basis points, reflecting a less favorable product mix, while royalties continued to positively impact margins.
Beauty’s reported sales increased 19% when compared to the prior year period, driven by a 9% benefit from currency changes and a 7% contribution from acquisitions, with core sales growth of 3%. There was increased demand for fragrance dispensing, as well as hair care and body care applications. Adjusted EBITDA margin was 11.1%, a decline of 100 basis points, due to less favorable product mix, primarily in North America and isolated operational disruptions at a supplier as reported last quarter.
Closures’ reported sales rose 5% from the prior year quarter and core sales were flat, with a 5% currency benefit. While product volumes were up, core sales results were negatively impacted by the pass through of lower resin pricing. Adjusted EBITDA margin was 13.1%, a decline of 270 basis points, primarily due to the previously reported maintenance issues, temporary plant closures as a result of extreme weather in North America and certain investment write offs.
Reported first quarter earnings per share were $1.12 compared to $1.17 reported a year ago. Adjusted earnings per share were $1.19, compared to the prior year period’s adjusted earnings per share of $1.30, including comparable exchange rates. The first quarter reported effective tax rate was 22.4% and the adjusted effective tax rate was 22.6%, compared to the prior year period’s reported and adjusted effective tax rates of 25.8%.
Outlook
Regarding Aptar’s outlook, Tanda stated, “Looking ahead to Q2, excluding destocking in emergency medicine within Pharma, we anticipate a solid quarter with growth across each segment. Outside of the emergency medicine end market, our prescription division is expected to return to healthy growth, and we anticipate growth across a number of pharma end markets mainly due to strength in our injectables and consumer healthcare divisions. We also anticipate a strong quarter for Closures and continued growth in Beauty, particularly in fragrance. Heading into the quarter, we remain mindful of potential supply‑chain uncertainties as we continue to operate in a dynamic environment.”
Aptar currently expects adjusted earnings per share for the second quarter of 2026 to be in the range of $1.32 to $1.40. This guidance assumes an effective tax rate range of 22.5% to 24.5%. The earnings per share guidance range is assuming a 1.18 Euro to USD exchange rate.
Cash Dividends and Share Repurchases
As previously announced, Aptar’s Board of Directors approved a quarterly cash dividend of $0.48 per share. The payment date is May 27, 2026, to stockholders of record as of May 6, 2026. During the first quarter, Aptar repurchased 707 thousand shares for $100 million. Aptar may repurchase shares through the open market, privately negotiated transactions or other programs, subject to market conditions.
Open Conference Call
There will be a conference call held on Friday, May 1, 2026 at 8:00 a.m. Central Time to discuss the company’s first quarter results for 2026. The call will last approximately one hour. Interested parties are invited to listen to a live webcast by visiting the Investor Relations website at investors.aptar.com. Replay of the conference call can also be accessed for a limited time on the Investor Relations page of the website.
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About Aptar
Aptar is a global leader in drug delivery and consumer product dosing, dispensing and protection technologies. Aptar serves a number of attractive end markets including pharmaceutical, beauty, food, beverage, personal care and home care. Using market expertise, proprietary design, engineering and science to create innovative solutions for many of the world’s leading brands, Aptar in turn makes a meaningful difference in the lives, looks, health and homes of millions of patients and consumers around the world. Aptar is headquartered in Crystal Lake, Illinois and has more than 14,000 dedicated employees in 20 countries. For more information, visit www.aptar.com.
Presentation of Non-GAAP Information
This press release refers to certain non-GAAP financial measures, including current year adjusted earnings per share and adjusted EBITDA, which exclude the impact of restructuring initiatives, acquisition-related costs, certain purchase accounting adjustments related to acquisitions and investments and net unrealized investment gains and losses related to observable market price changes on equity securities, and other special items. Core sales and adjusted earnings per share also neutralize the impact of foreign currency translation effects when comparing current results to the prior year. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, restructuring initiatives, acquisition-related costs, net unrealized investment gains and losses related to observable market price changes on equity securities and other special items. For the quarter ended March 31, 2026, “Other special items” include costs incurred related to non-ordinary-course litigation, specifically: lawsuits between Aptar and ARS Pharmaceuticals, Inc., involving Aptar’s claims of trade-secret misappropriation and contractual breaches and ARS’s lawsuit against Aptar under U.S. antitrust laws; and patent infringement actions filed by Nemera La Verpillière SAS in Germany and France relating to certain of Aptar’s ophthalmic products. These costs are excluded because they do not reflect our core operating performance. Please refer to “Legal Proceedings” within Note 13 - Commitments and Contingencies within Aptar’s Form 10-K for the year ended December 31, 2025 and subsequent SEC filings for more information. Adjusted EBITDA margin is adjusted EBITDA divided by reported net sales. Non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures provided by other companies. Aptar’s management believes these non-GAAP financial measures provide useful information to our investors because they allow for a better period over period comparison of operating results by removing the impact of items that, in management’s view, do not reflect Aptar’s core operating performance. These non-GAAP financial measures also provide investors with certain information used by Aptar’s management when making financial and operational decisions. Free cash flow is calculated as cash provided by operating activities less capital expenditures plus proceeds from government grants related to capital expenditures. We believe that it is meaningful to investors in evaluating our financial performance and measuring our ability to generate cash internally to fund our initiatives. These non-GAAP financial measures should not be considered in isolation or as a substitute for GAAP financial results but should be read in conjunction with the unaudited condensed consolidated statements of income and other information presented herein. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures is included in the accompanying tables. Our outlook is provided on a non-GAAP basis because certain reconciling items are dependent on future events that either cannot be controlled, such as exchange rates and changes in the fair value of equity investments, or reliably predicted because they are not part of the company's routine activities, such as restructuring, acquisition costs and other special items.
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This press release contains forward-looking statements, including certain statements set forth under the “Outlook” section of this press release. Words such as “expects,” “anticipates,” “believes,” “estimates,” “future,” “potential,” “continues” and other similar expressions or future or conditional verbs such as “will,” “should,” “would” and “could” are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs as well as assumptions made by and information currently available to us. Accordingly, our actual results or other events may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: geopolitical conflicts worldwide and the resulting indirect impact on demand from our customers selling their products into these countries, as well as rising input costs and certain supply chain disruptions; cybersecurity threats against our systems and/or service providers that could impact our networks and reporting systems; the availability of raw materials and components (particularly from sole sourced suppliers for some of our Pharma solutions) as well as the financial viability of these suppliers; our ability to protect and defend our intellectual property rights, as well as litigation involving intellectual property rights; the outcome of any legal proceeding that has been or may be instituted against us and others; lower demand and asset utilization due to an economic recession either globally or in key markets we operate within; economic conditions worldwide, including inflationary conditions and potential deflationary conditions in other regions we rely on for growth; competition, including technological advances; significant tariffs and other restrictions on foreign imports imposed by the U.S. and related countermeasures taken by impacted foreign countries; our ability to successfully implement facility expansions and new facility projects; fluctuations in the cost of materials, components, transportation cost as a result of supply chain disruptions and labor shortages, and other input costs; significant fluctuations in foreign currency exchange rates or our effective tax rate; the impact of tax reform legislation, changes in tax rates and other tax-related events or transactions that could impact our effective tax rate; financial conditions of customers and suppliers; consolidations within our customer or supplier bases; changes in customer and/or consumer spending levels; loss of one or more key accounts; our ability to offset inflationary impacts with cost containment, productivity initiatives and price increases; changes in capital availability or cost, including rising interest rates; loss of royalty revenue due to contract expirations; volatility of global credit markets; our ability to identify potential new acquisitions and to successfully acquire and integrate such operations, including the successful integration of the businesses we have acquired; our ability to build out acquired businesses and integrate the product/service offerings of the acquired entities into our existing product/service portfolio; direct or indirect consequences of acts of war, terrorism or social unrest; the impact of natural disasters and other weather-related occurrences; fiscal and monetary policies and other regulations; changes, difficulties or failures in complying with government regulation, including FDA or similar foreign governmental authorities; changing regulations or market conditions regarding environmental sustainability; our ability to retain key members of management and manage labor costs; work stoppages due to labor disputes; our ability to meet future cash flow estimates to support our goodwill impairment testing; the demand for existing and new products; the success of our customers’ products, particularly in the pharmaceutical industry; our ability to manage worldwide customer launches of complex technical products, particularly in developing markets; difficulties in product development and uncertainties related to the timing or outcome of product development; significant product liability claims; and other risks associated with our operations. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K and Form 10-Qs. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contacts
Investor Relations Contact:
Mary Skafidas
mary.skafidas@aptar.com
815-479-5530
Media Contact:
Katie Reardon
katie.reardon@aptar.com
815-479-5671
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AptarGroup, Inc.
Condensed Consolidated Financial Statements (Unaudited)
(In Thousands, Except Per Share Data)
Consolidated Statements of Income
Three Months Ended March 31, | |||||||||||
2026 | 2025 | ||||||||||
| Net Sales | $ | 982,868 | $ | 887,305 | |||||||
| Cost of Sales (exclusive of depreciation and amortization shown below) | 630,959 | 550,891 | |||||||||
| Selling, Research & Development and Administrative | 167,602 | 155,277 | |||||||||
| Depreciation and Amortization | 75,725 | 65,647 | |||||||||
| Restructuring Initiatives | 1,086 | 2,042 | |||||||||
| Operating Income | 107,496 | 113,448 | |||||||||
| Other Income (Expense): | |||||||||||
| Interest Expense | (16,942) | (11,351) | |||||||||
| Interest Income | 3,642 | 2,814 | |||||||||
| Net Investment Loss | (1,086) | (1,096) | |||||||||
| Equity in Results of Affiliates | 714 | 2,086 | |||||||||
| Miscellaneous (Expense) Income, net | (53) | 114 | |||||||||
| Income before Income Taxes | 93,771 | 106,015 | |||||||||
| Provision for Income Taxes | 21,004 | 27,352 | |||||||||
| Net Income | $ | 72,767 | $ | 78,663 | |||||||
| Net (Income) Loss Attributable to Noncontrolling Interests | (4) | 135 | |||||||||
| Net Income Attributable to Redeemable Noncontrolling Interests | (89) | — | |||||||||
| Net Income Attributable to AptarGroup, Inc. | $ | 72,674 | $ | 78,798 | |||||||
| Net Income Attributable to AptarGroup, Inc. per Common Share: | |||||||||||
| Basic | $ | 1.13 | $ | 1.19 | |||||||
| Diluted | $ | 1.12 | $ | 1.17 | |||||||
| Average Numbers of Shares Outstanding: | |||||||||||
| Basic | 64,050 | 66,271 | |||||||||
| Diluted | 64,834 | 67,491 | |||||||||
5
AptarGroup, Inc.
Condensed Consolidated Financial Statements (Unaudited)
(continued)
($ In Thousands)
Consolidated Balance Sheets
| March 31, 2026 | December 31, 2025 | ||||||||||
| ASSETS | |||||||||||
| Cash and Equivalents | $ | 222,529 | $ | 402,424 | |||||||
| Short-term Investments | 6,948 | 7,109 | |||||||||
| Accounts and Notes Receivable, Net | 833,268 | 803,830 | |||||||||
| Inventories | 551,482 | 537,845 | |||||||||
| Prepaid and Other | 154,045 | 142,354 | |||||||||
| Total Current Assets | 1,768,272 | 1,893,562 | |||||||||
| Property, Plant and Equipment, Net | 1,660,929 | 1,676,479 | |||||||||
| Goodwill | 1,072,560 | 1,077,898 | |||||||||
| Other Assets | 596,022 | 604,780 | |||||||||
| Total Assets | $ | 5,097,783 | $ | 5,252,719 | |||||||
| LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY | |||||||||||
| Short-Term Obligations | $ | 222,166 | $ | 343,531 | |||||||
| Accounts Payable, Accrued and Other Liabilities | 840,867 | 822,913 | |||||||||
| Total Current Liabilities | 1,063,033 | 1,166,444 | |||||||||
| Long-Term Obligations | 1,143,370 | 1,139,433 | |||||||||
| Deferred Liabilities and Other | 217,129 | 234,617 | |||||||||
| Total Liabilities | 2,423,532 | 2,540,494 | |||||||||
| Redeemable Noncontrolling Interests | 26,694 | 26,244 | |||||||||
| Total Mezzanine Equity | 26,694 | 26,244 | |||||||||
| AptarGroup, Inc. Stockholders' Equity | 2,629,495 | 2,668,096 | |||||||||
| Noncontrolling Interests in Subsidiaries | 18,062 | 17,885 | |||||||||
| Total Stockholders' Equity | 2,647,557 | 2,685,981 | |||||||||
| Total Liabilities, Mezzanine Equity and Stockholders' Equity | $ | 5,097,783 | $ | 5,252,719 | |||||||
6
AptarGroup, Inc.
Condensed Consolidated Financial Statements (Unaudited)
(continued)
($ In Thousands)
Consolidated Statement of Cash Flows
| Three Months Ended March 31, | 2026 | 2025 | |||||||||
| Cash Flows from Operating Activities: | |||||||||||
| Net income | $ | 72,767 | $ | 78,663 | |||||||
| Adjustments to reconcile net income to net cash provided by operations: | |||||||||||
| Depreciation | 64,310 | 54,903 | |||||||||
| Amortization | 11,415 | 10,744 | |||||||||
| Stock-based compensation | 16,764 | 19,193 | |||||||||
| Provision for CECL | 644 | 35 | |||||||||
| Loss (gain) on disposition of fixed assets | 81 | (271) | |||||||||
| Net loss on remeasurement of equity securities | 1,086 | 1,096 | |||||||||
| Deferred income taxes | (4,567) | (1,860) | |||||||||
| Defined benefit plan expense | 3,443 | 3,277 | |||||||||
| Equity in results of affiliates | (714) | (2,086) | |||||||||
| Impairment loss | 901 | — | |||||||||
| Changes in balance sheet items, excluding effects from foreign currency adjustments: | |||||||||||
| Accounts and other receivables | (33,030) | (69,247) | |||||||||
| Inventories | (16,943) | (6,043) | |||||||||
| Prepaid and other current assets | (12,393) | (12,617) | |||||||||
| Accounts payable, accrued and other liabilities | 36,422 | 33,324 | |||||||||
| Income taxes payable | 103 | (7,195) | |||||||||
| Retirement and deferred compensation plan | (15,271) | (11,751) | |||||||||
| Other changes, net | (6,324) | (7,423) | |||||||||
| Net Cash Provided by Operations | 118,694 | 82,742 | |||||||||
| Cash Flows from Investing Activities: | |||||||||||
| Capital expenditures | (65,396) | (56,862) | |||||||||
| Proceeds from sale of property, plant and equipment | 1,327 | 79 | |||||||||
| Purchases of short-term investments, net | (103) | (88) | |||||||||
| Acquisition of intangible assets, net | (592) | (2,475) | |||||||||
| Notes receivable, net | (335) | 2,714 | |||||||||
| Net Cash Used by Investing Activities | (65,099) | (56,632) | |||||||||
| Cash Flows from Financing Activities: | |||||||||||
| Proceeds from notes payable and overdrafts | 2,930 | 79 | |||||||||
| Repayments of notes payable and overdrafts | (2,895) | — | |||||||||
| Proceeds and (repayments) of short term revolving credit facility, net | 7,000 | (23,880) | |||||||||
| Proceeds from long-term obligations | 5,037 | 124 | |||||||||
| Repayments of long-term obligations | (127,927) | (4,552) | |||||||||
| Payment of contingent consideration obligation | (2,197) | — | |||||||||
| Dividends paid | (30,920) | (29,923) | |||||||||
| Proceeds from stock option exercises | 18,516 | 3,375 | |||||||||
| Purchase of treasury stock | (99,973) | (80,000) | |||||||||
| Redeemable noncontrolling interest | 89 | — | |||||||||
| Net Cash Used by Financing Activities | (230,340) | (134,777) | |||||||||
| Effect of Exchange Rate Changes on Cash | (3,150) | 10,662 | |||||||||
| Net Decrease in Cash and Equivalents and Restricted Cash | (179,895) | (98,005) | |||||||||
| Cash and Equivalents and Restricted Cash at Beginning of Period | 404,849 | 223,844 | |||||||||
| Cash and Equivalents and Restricted Cash at End of Period | $ | 224,954 | $ | 125,839 | |||||||
7
AptarGroup, Inc.
Reconciliation of Adjusted EBIT and Adjusted EBITDA to Net Income (Unaudited)
($ In Thousands)
| Three Months Ended March 31, 2026 | ||||||||||||||||||||||||||||||||||||||
| Consolidated | Pharma | Beauty | Closures | Corporate & Other | Net Interest | |||||||||||||||||||||||||||||||||
| Net Sales | $ | 982,868 | $ | 438,560 | $ | 363,635 | $ | 180,673 | $ | — | $ | — | ||||||||||||||||||||||||||
| Reported net income | $ | 72,767 | ||||||||||||||||||||||||||||||||||||
| Reported income taxes | 21,004 | |||||||||||||||||||||||||||||||||||||
| Reported income before income taxes | 93,771 | 106,658 | 14,458 | 9,184 | (23,229) | (13,300) | ||||||||||||||||||||||||||||||||
| Adjustments: | ||||||||||||||||||||||||||||||||||||||
| Restructuring initiatives | 1,086 | 5 | 1,301 | 249 | (469) | |||||||||||||||||||||||||||||||||
| Net investment loss | 1,086 | — | — | — | 1,086 | |||||||||||||||||||||||||||||||||
| Transaction costs related to acquisitions | 45 | 45 | — | — | — | |||||||||||||||||||||||||||||||||
| Purchase accounting adjustments related to acquisitions and investments | 145 | 145 | — | — | — | |||||||||||||||||||||||||||||||||
| Other special items | 3,727 | 3,727 | — | — | — | |||||||||||||||||||||||||||||||||
| Adjusted earnings before income taxes | 99,860 | 110,580 | 15,759 | 9,433 | (22,612) | (13,300) | ||||||||||||||||||||||||||||||||
| Interest expense | 16,942 | 16,942 | ||||||||||||||||||||||||||||||||||||
| Interest income | (3,642) | (3,642) | ||||||||||||||||||||||||||||||||||||
| Adjusted earnings before net interest and taxes (Adjusted EBIT) | 113,160 | 110,580 | 15,759 | 9,433 | (22,612) | — | ||||||||||||||||||||||||||||||||
| Depreciation and amortization | 75,725 | 35,643 | 24,723 | 14,224 | 1,135 | |||||||||||||||||||||||||||||||||
| Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA) | $ | 188,885 | $ | 146,223 | $ | 40,482 | $ | 23,657 | $ | (21,477) | $ | — | ||||||||||||||||||||||||||
| Reported net income margins (Reported net income / Reported Net Sales) | 7.4 | % | ||||||||||||||||||||||||||||||||||||
| Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales) | 19.2 | % | 33.3 | % | 11.1 | % | 13.1 | % | ||||||||||||||||||||||||||||||
| Three Months Ended March 31, 2025 | ||||||||||||||||||||||||||||||||||||||
| Consolidated | Pharma | Beauty | Closures | Corporate & Other | Net Interest | |||||||||||||||||||||||||||||||||
| Net Sales | $ | 887,305 | $ | 409,467 | $ | 305,707 | $ | 172,131 | $ | — | $ | — | ||||||||||||||||||||||||||
| Reported net income | $ | 78,663 | ||||||||||||||||||||||||||||||||||||
| Reported income taxes | 27,352 | |||||||||||||||||||||||||||||||||||||
| Reported income before income taxes | 106,015 | 111,112 | 16,681 | 12,333 | (25,574) | (8,537) | ||||||||||||||||||||||||||||||||
| Adjustments: | ||||||||||||||||||||||||||||||||||||||
| Restructuring initiatives | 2,042 | 190 | 395 | 1,352 | 105 | |||||||||||||||||||||||||||||||||
| Net investment loss | 1,096 | — | — | — | 1,096 | |||||||||||||||||||||||||||||||||
| Adjusted earnings before income taxes | 109,153 | 111,302 | 17,076 | 13,685 | (24,373) | (8,537) | ||||||||||||||||||||||||||||||||
| Interest expense | 11,351 | 11,351 | ||||||||||||||||||||||||||||||||||||
| Interest income | (2,814) | (2,814) | ||||||||||||||||||||||||||||||||||||
| Adjusted earnings before net interest and taxes (Adjusted EBIT) | 117,690 | 111,302 | 17,076 | 13,685 | (24,373) | — | ||||||||||||||||||||||||||||||||
| Depreciation and amortization | 65,647 | 31,148 | 20,062 | 13,575 | 862 | — | ||||||||||||||||||||||||||||||||
| Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA) | $ | 183,337 | $ | 142,450 | $ | 37,138 | $ | 27,260 | $ | (23,511) | $ | — | ||||||||||||||||||||||||||
| Reported net income margins (Reported net income / Reported Net Sales) | 8.9 | % | ||||||||||||||||||||||||||||||||||||
| Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales) | 20.7 | % | 34.8 | % | 12.1 | % | 15.8 | % | ||||||||||||||||||||||||||||||
8
AptarGroup, Inc.
Reconciliation of Adjusted Earnings Per Diluted Share (Unaudited)
(In Thousands, Except Per Share Data)
| Three Months Ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| Income before Income Taxes | $ | 93,771 | $ | 106,015 | |||||||
| Adjustments: | |||||||||||
| Restructuring initiatives | 1,086 | 2,042 | |||||||||
| Net investment loss | 1,086 | 1,096 | |||||||||
| Transaction costs related to acquisitions | 45 | — | |||||||||
| Purchase accounting adjustments related to acquisitions and investments | 145 | — | |||||||||
| Other special items | 3,727 | — | |||||||||
| Foreign currency effects (1) | 8,992 | ||||||||||
| Adjusted Earnings before Income Taxes | $ | 99,860 | $ | 118,145 | |||||||
| Provision for Income Taxes | $ | 21,004 | $ | 27,352 | |||||||
| Adjustments: | |||||||||||
| Restructuring initiatives | 279 | 506 | |||||||||
| Net investment loss | 266 | 269 | |||||||||
| Transaction costs related to acquisitions | 11 | — | |||||||||
| Purchase accounting adjustments related to acquisitions and investments | 49 | — | |||||||||
| Other special items | 953 | — | |||||||||
| Foreign currency effects (1) | 2,320 | ||||||||||
| Adjusted Provision for Income Taxes | $ | 22,562 | $ | 30,447 | |||||||
| Net (Income) Loss Attributable to Noncontrolling Interests | $ | (4) | $ | 135 | |||||||
| Net Income Attributable to Redeemable Noncontrolling Interests | $ | (89) | $ | — | |||||||
| Net Income Attributable to AptarGroup, Inc. | $ | 72,674 | $ | 78,798 | |||||||
| Adjustments: | |||||||||||
| Restructuring initiatives | 807 | 1,536 | |||||||||
| Net investment loss | 820 | 827 | |||||||||
| Transaction costs related to acquisitions | 34 | — | |||||||||
| Purchase accounting adjustments related to acquisitions and investments | 96 | — | |||||||||
| Other special items | 2,774 | — | |||||||||
| Foreign currency effects (1) | 6,672 | ||||||||||
| Adjusted Net Income Attributable to AptarGroup, Inc. | $ | 77,205 | $ | 87,833 | |||||||
| Average Number of Diluted Shares Outstanding | 64,834 | 67,491 | |||||||||
| Net Income Attributable to AptarGroup, Inc. Per Diluted Share | $ | 1.12 | $ | 1.17 | |||||||
| Adjustments: | |||||||||||
| Restructuring initiatives | 0.01 | 0.02 | |||||||||
| Net investment loss | 0.01 | 0.01 | |||||||||
| Transaction costs related to acquisitions | — | — | |||||||||
| Purchase accounting adjustments related to acquisitions and investments | — | — | |||||||||
| Other special items | 0.05 | — | |||||||||
| Foreign currency effects (1) | 0.10 | ||||||||||
| Adjusted Net Income Attributable to AptarGroup, Inc. Per Diluted Share | $ | 1.19 | $ | 1.30 | |||||||
(1) Foreign currency effects are approximations of the adjustment necessary to state the prior year earnings and earnings per share using current period foreign currency exchange rates.
9
AptarGroup, Inc.
Reconciliation of Free Cash Flow to Net Cash Provided by Operations (Unaudited)
(In Thousands)
| Three Months Ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| Net Cash Provided by Operations | $ | 118,694 | $ | 82,742 | |||||||
| Capital Expenditures | (65,396) | (56,862) | |||||||||
| Free Cash Flow | $ | 53,298 | $ | 25,880 | |||||||
10
AptarGroup, Inc.
Reconciliation of Adjusted Earnings Per Diluted Share (Unaudited)
(In Thousands, Except Per Share Data)
| Three Months Ending June 30, | |||||||||||
Expected 2026 | 2025 | ||||||||||
| Income before Income Taxes | $ | 139,714 | |||||||||
| Adjustments: | |||||||||||
| Restructuring initiatives | 1,579 | ||||||||||
| Net investment gain | (2,102) | ||||||||||
| Transaction costs related to acquisitions | 344 | ||||||||||
| Foreign currency effects (1) | 919 | ||||||||||
| Adjusted Earnings before Income Taxes | $ | 140,454 | |||||||||
| Provision for Income Taxes | $ | 27,982 | |||||||||
| Adjustments: | |||||||||||
| Restructuring initiatives | 421 | ||||||||||
| Net investment gain | (515) | ||||||||||
| Transaction costs related to acquisitions | 86 | ||||||||||
| Foreign currency effects (1) | 184 | ||||||||||
| Adjusted Provision for Income Taxes | $ | 28,158 | |||||||||
| Net Income Attributable to Noncontrolling Interests | $ | (12) | |||||||||
| Net Income Attributable to AptarGroup, Inc. | $ | 111,720 | |||||||||
| Adjustments: | |||||||||||
| Restructuring initiatives | 1,158 | ||||||||||
| Net investment gain | (1,587) | ||||||||||
| Transaction costs related to acquisitions | 258 | ||||||||||
| Foreign currency effects (1) | 735 | ||||||||||
| Adjusted Net Income Attributable to AptarGroup, Inc. | $ | 112,284 | |||||||||
| Average Number of Diluted Shares Outstanding | 67,048 | ||||||||||
| Net Income Attributable to AptarGroup, Inc. Per Diluted Share (3) | $ | 1.67 | |||||||||
| Adjustments: | |||||||||||
| Restructuring initiatives | 0.02 | ||||||||||
| Net investment gain | (0.03) | ||||||||||
| Transaction costs related to acquisitions | — | ||||||||||
| Foreign currency effects (1) | 0.01 | ||||||||||
| Adjusted Net Income Attributable to AptarGroup, Inc. Per Diluted Share (2) | $1.32 - $1.40 | $ | 1.67 | ||||||||
(1) Foreign currency effects are approximations of the adjustment necessary to state the prior year earnings and earnings per share using current spot rates for all applicable foreign currency exchange rates.
(2) AptarGroup’s expected adjusted earnings per share range for the second quarter of 2026, see non-GAAP section for full definition, is based on an effective tax rate range of 22.5% to 24.5%. This tax rate range compares to our second quarter of 2025 effective tax rate of 20.0% on both reported and adjusted earnings per share.
11
FAQ
How did AptarGroup (ATR) perform financially in Q1 2026?
AptarGroup’s Q1 2026 net sales rose 11% to $982.9 million, but net income declined 8% to $72.8 million. Diluted EPS was $1.12, down from $1.17, while adjusted EPS was $1.19, versus $1.30 a year earlier at comparable exchange rates.
What were AptarGroup (ATR) segment trends in Q1 2026?
In Q1 2026, Pharma reported 7% sales growth with core sales down 1%, Beauty grew reported sales 19% with 3% core growth, and Closures reported 5% growth with flat core sales. Currency and acquisitions contributed meaningfully to reported growth across segments.
What EPS guidance did AptarGroup (ATR) give for Q2 2026?
AptarGroup expects adjusted EPS for Q2 2026 in the range of $1.32 to $1.40. This outlook assumes an effective tax rate of 22.5%–24.5% and a 1.18 Euro to U.S. dollar exchange rate, based on the company’s guidance disclosure.
What happened to AptarGroup’s (ATR) margins in Q1 2026?
AptarGroup’s adjusted EBITDA margin decreased to 19.2% in Q1 2026 from 20.7% a year earlier. Segment margins fell due to a less favorable product mix, maintenance issues, temporary plant closures from extreme weather, and certain investment write‑offs, as described in the company’s results discussion.
Who is AptarGroup’s next CEO and when will they assume the role?
AptarGroup announced that Gael Touya has been named the company’s next Chief Executive Officer. He is expected to become CEO effective September 1, 2026, succeeding current leadership as part of the company’s planned executive transition.