AptarGroup Earnings: Here’s Why the Stock is Falling Now
AptarGroup, Inc. (NYSE:ATR) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.58%.
AptarGroup, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 0% to $0.64 in the quarter versus EPS of $0.64 in the year-earlier quarter.
Revenue: Rose 4.24% to $617.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: AptarGroup, Inc. reported adjusted EPS income of $0.64 per share. By that measure, the company missed the mean analyst estimate of $0.66. It missed the average revenue estimate of $630.9 million.
Quoting Management: Commenting on the quarter, Stephen Hagge, President and CEO, said, “Looking at our sales for the quarter, our Beauty + Home segment was negatively affected by weak volumes in the U.S. beauty and personal care markets. Our Pharma segment was negatively impacted by the anticipated softness in the U.S. generic allergy market and also decreased demand from the European consumer health care market. Aptar Stelmi had a terrific quarter and contributed approximately $35 million in sales. Demand for our Food + Beverage dispensing systems was strong in the quarter. Also, lower custom tooling sales across each segment had a negative effect on our core sales growth. Our operations in Latin America and Asia posted another quarter of strong growth.”
Key Stats (on next page)…