AptarGroup (ATR) Earnings Beat Estimates in Q2, Increase Y/Y

Core Viewpoint - AptarGroup, Inc. reported strong second-quarter 2024 adjusted earnings per share of $1.37, exceeding expectations, with a year-over-year increase of 12% [1] Financial Performance - Adjusted operating income rose 7.54% year over year to $128 million, with an adjusted operating margin of 14% [2] - Total revenues increased 1.6% year over year to $910 million, although this figure missed the Zacks Consensus Estimate of $923 million [1][2] - Gross profit improved 6.3% year over year to $343 million, leading to a gross margin expansion to 37.6% [2] - Cash flow from operations was $144 million, significantly up from $84 million in the prior-year quarter [4] Segmental Performances - Pharma segment revenues increased 6.1% year over year to $415 million, surpassing estimates [3] - Beauty segment revenues decreased 2.5% year over year to $321 million, with operating income improving to $24 million [3] - Closures segment revenues fell 0.9% year over year to $174 million, with operating income down 12.3% [3] Outlook - The company estimates third-quarter 2024 adjusted earnings per share to be in the range of $1.38 to $1.46 [5] Price Performance - AptarGroup shares have increased by 19.5% over the past year, outperforming the industry growth of 9.4% [6]