AptarGroup(US:ATR)2025-05-01 21:05Sales Performance - Reported sales for Q1 2025 decreased by 3% to $887.3 million compared to $915.4 million in Q1 2024[4] - Aptar Pharma's reported sales increased by 1%, with core sales growing by 3%, driven by demand for drug delivery systems for emergency medicines and CNS therapies[6] - Aptar Beauty's reported sales decreased by 7%, primarily due to lower prestige fragrance volumes, while personal care and home care products showed strong growth[9] - Aptar Closures reported a 5% decrease in sales, with core sales down 2%, impacted by lower tooling sales and unprofitable operations in Argentina[10] - Net sales for the three months ended March 31, 2025, were $887,305 thousand, a decrease of 3.1% from $915,448 thousand in the same period of 2024[24] Earnings and Income - Earnings per share for Q1 2025 were reported at $1.17, down from $1.23 in the prior year, while adjusted earnings per share were $1.20[11] - Reported net income for the first quarter of 2025 was $78,663 thousand, down from $82,933 thousand in the first quarter of 2024, representing a decline of 5.1%[24] - Reported net income margins for the first quarter of 2025 were 8.9%, down from 9.1% in the first quarter of 2024[24] - The company expects adjusted net income attributable to AptarGroup, Inc. per diluted share for the second quarter of 2025 to be in the range of $1.56 to $1.64, compared to $1.37 in the same quarter of 2024[29][30] Cash Flow and Dividends - Free cash flow for the first quarter of 2025 was $25,880 thousand, up from $16,672 thousand in the first quarter of 2024, marking a significant increase of 55.8%[27] - The company approved a quarterly cash dividend of $0.45 per share, with a payment date set for May 22, 2025[13] Tax and Financial Ratios - The effective tax rate for Q1 2025 was 26%, up from 20% in the prior year, reflecting a temporary surtax enacted in France[11] - For Q2 2025, Aptar expects earnings per share to be in the range of $1.56 to $1.64, based on an effective tax rate of 19% to 21%[12] - Adjusted EBITDA for the three months ended March 31, 2025, was $183,337 thousand, compared to $178,832 thousand in the same period of 2024, indicating an increase of 2.8%[24] - Adjusted EBITDA margins for the first quarter of 2025 were 20.7%, compared to 19.5% in the same period of 2024, showing an improvement of 1.2 percentage points[24] Assets and Liabilities - Total assets increased to $4,527,088 thousand as of March 31, 2025, compared to $4,432,278 thousand in the previous year, reflecting a growth of 2.1%[23] - Total liabilities increased to $1,975,554 thousand as of March 31, 2025, compared to $1,946,354 thousand in the previous year, reflecting a rise of 1.5%[23] - The company reported a net cash provided by operations of $82,742 thousand for the first quarter of 2025, down from $92,333 thousand in the same period of 2024[27]