AptarGroup's (ATR) Q1 Earnings & Revenues Trump, Up Y/Y
Zacks Investment Research | May 03, 2019 06:50AM ET
AptarGroup, Inc. (NYSE:ATR) delivered first-quarter 2019 adjusted earnings per share of $1.07, beating the Zacks Consensus Estimate of 98 cents by a margin of 9.2%. Further, the bottom line grew 16% year over year and came in higher than management’s guided range between 95 cents and $1.00.
On a reported basis, the company recorded earnings of 96 cents per share compared with the year-ago quarter’s reported figure of 92 cents.
AptarGroup achieved year-over-year solid core sales growth across all segments during the reported quarter. Also, benefits from business transformation, business mix and lower resin cost aided its profit margin during the quarter.
Operational Update
Total revenues improved 6% year over year to $744.5 million in the reported quarter. Core sales growth was at 7%, acquisitions contributed 6%, while unfavorable exchange rates impacted sales by 7%. Further, the top line beat the Zacks Consensus Estimate of $734 million.
Cost of sales rose 3% to $469 million from $456 million recorded in the year-ago quarter. Gross profit increased 10.8% year over year to $275 million. Gross margin came in at 36.9% during the first quarter, up from the prior-year quarter’s 35.2%.
Selling, research, development and administrative expenses rose 8% year over year to $121 million. Adjusted operating income went up 22% year over year to $99.5 million. The company reported operating margin of 13.4% compared with the prior-year’s 11.6%. Adjusted EBITDA increased 15% year over year to $154 million in the first quarter.
AptarGroup, Inc. Price, Consensus and EPS Surprise
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