ATR - Earnings call transcript Q2 2024

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Ladies and gentlemen, thank you for standing by. Welcome to Aptar's 2024 Second Quarter Conference Call. [Operator Instructions] Introducing today's conference call is Ms. Marry Skafidas, Senior Vice President, Investor Relations, and Communications. Please go ahead.

Marry Skafidas

Thank you. for us thanks and everyone, being today. with Hello,

are President Vice and me and on and Tanda, call the Executive Joining CEO; Stephan Bob CFO. President, Kuhn,

have website. Our posted slide and press deck release on our accompanying been

advance If you on arrows and by along are on screen the over presentation on left. the you the our hovering clicking slides website, following can the right and

our website. statements. post materially As replay discussing of results to our will Please on forward-looking some also actual a filings today. factors Today's we from review includes always, call call cause are to that SEC refer this what could we differ to

would I over call conference turn like now the to Stephan. to

Stephan Tanda

begin results. CFO, will We call, you morning, drivers Thank you, our on good Later Bob Marry, quarter. Starting highlighting Kuhn, details additional joining appreciate for and Slide our second remarks the in my on by I the quarter the key on everyone. will provide us call today. X.

I'm that over double the EPS the quarter. the share, of for increase of XX% pleased adjusted and half For grew the year adjusted a in We to the $X.XX delivered first core quarter, after sales prior of and report digits second per X% growth quarter. EPS achieved year

demand positive confidence The we improvement. our results on dividend pharma by in broad-based top well margin Additionally, quarter in approximately for our as due year. systems recently as the to driven XX% increase proprietary X% of our performance, raised strong by last continued the drug an delivery were almost

than X% the XXXX. with demand second continued growth proprietary segment delivery our quarter, XX% core systems in sales growth Pharma of see the sales healthy in quarter core for Our to following more drug

year top systems in had quarter. in proprietary of prior the double-digit on growth Additionally, more than drug XX% growing quarter the delivery

key nervous for the drug drivers systems drugs. was our system quarter for central delivery of this One used

in nasal Research migraines, This nasal nasal from reduce for in repurposing Over flu number nasal to limit is growing spans and spray decreased gel-based for of such pump the and the symptoms used to of the treatment the antibiotics companies as Health study has The was Institute in First the COVID to new as patients. This surge Care to to most in benefits in have infections we by of cold decade, to depression need medicines injectable XXXX of July the nasally the of pharma from sprays reverse more life used nasal effect delivery. well Defense, nasal severity featuring for and U.S. a National Vicks our medications sprays, cases last frequency drugs were emergency even such and the come at-risk overdose that funded study as the wider seen timely shown report a opioid study. spreading duration epilepsy. delivered as According the of also respiratory light of recent the over-the-counter

patient and market insights, successfully. we their life include addition to our management, support, bring delivery drugs analytical generating digital factors drug human formulation In and our proprietary systems, testing, have development offerings. pharmaceutical customers cycle regulatory a built to These service suite to of also testing help digital support, health drug all

administer the We them are experiences improving helping on patient focused and the successfully therapies.

quarter Now quarter following catch-up the normalized to XXXX. moving year's the Sales as to last injectables. in sales implementation compared quarter when first year of ERP prior declined from second strong

volume nicely, increases. offerings. for closure is pipeline of segments saw our higher-value Our Both elastomeric beauty components and especially growing our

year ago. Sales of for and Beauty's XX% which care after normalized of a broad-based sales period demand personal pulled sales lower than growth. Masstige dispenser. Beauty, in strength of pockets Beauty tooling Latin down America with a core saw in represent America, revenue improvement Europe, For North more significant growth fragrances

resin improved In over margins the prior flat on full period, timing of year lower point margins, of terms due passing a to closures Beauty were costs. the while percentage

period, During we destocking on have this focused improving operational leverage.

that we benefit the improvement we volumes rebound. are North in expect as Now American seeing sales, progressive

the for speak over share to medications used to launches BXX unidose QX, Slide deficiency the on as In vitamin to of their new further and part products used treat Bob Bayer’s users report Activ-Vial is pharma, and migraine is our with used science anemia. self-manage Airless is app of I product tracking Europe, Before system and innovation deliver recent symptoms. and migraine now want Migraine I and in IberoBiotics the China, Buddy material about for shown and technology our And Starting health our our business, that acne portfolio details X. is headache call to turn system is Pro. In a technology in on medication. highlight digital to U.S. leading our help

Guerlain Hydro the Kaiak. has alcohol mono-material, our fully selected resin our digital refillable that for skincare pump. X and features care added recycled sclerosis pump. Boost Through made also their from post-consumer fragrance enable first patients share multiple living partnership pump neuromuscular recycled solutions with fragrance patients Cleo Biogen, is used Aptar's featured and disorders. In fragrance formulated overcap Latin have product with the Idôle is without We for team. to with reports fragrance. custom with In our Lancôme Physio.Me on for And people track America, Neutrogena's health beauty,

closures. to Turning

XX-year brand have with valve. packaging We closure U.S. partnership a SimpliSqueeze has a Heinz the beverage for in Kraft and concentrate, our custom rebranded with Mio the their

is top flip Adidas on cleanser with custom Our closure used China. in an PCR body

X to Slide Turning now.

which of of highlights sustainability more on continuously progress pride and ourselves that sustainable We Landfill renewable energy During significant certifying key strategy. our the on raising and quarter, recyclable, sourcing the materials. incorporate bar we ESG sites developing refillable XXXX and areas sustainability released products across many reusable, more our our Free report, are corporate

broad-based ranked America's sustainability, #XXX XXX transparent and are practices. sustainable and TIME USA advancing Both our we out the June, global Aptar leadership continued sustainable Magazine among named in companies, one Today made reporting of leaders, data to of companies. In where Day commitment climate recognitions reflect most world's us

Now I over would turn the Bob. like to call to

Robert Kuhn

like on everyone. X, Starting to you, I quarter. would and good Slide the morning, Thank summarize Stephan,

increased X%. This headwind primarily for systems Pharma's and X%. sales to delivery well Beauty X% of a core progressively both growth approximately proprietary translation due grew drug as sales reported North and market as in included currency strong a Our Closures. American recovering Therefore,

year's reported is $X.XX, As the shown second adjusted EPS. increase we of adjusted over a X, on Slide per earnings share which prior quarter XX%

in we which $X compared quarter. in quarter, to to quarter increased from year the $XXX margins. Free million of prior achieved second driven expanding the the million prior by flow year EBITDA increased During X%, the quarter cash by adjusted million, $XX

Turning of segment for details to the some by the quarter.

systems core Our Pharma and increased due volume proprietary sales Activ-Film segment's our solutions. to in X% drug especially delivery growth,

Looking system segment market, well Prescription in will XX%, emergency and sales prior the for increased increased for therapeutics at Care XX% higher as driven Core Health sales pain performed rhinitis, by quarter. breaking Pharma the sales the year by X% our out over strong quarter. I core saline decongestant demand which allergic decreased systems, to sales medicines. start core as proprietary nervous of by delivery well in solutions. eye drug due Consumer central and nasal Injectables sales nasal care,

last as the the of normalized implementation to sales second compared in mentioned, sales quarter year ERP declined quarter following prior Stephan XXXX. first strong from quarter year's As the catch-up

in stronger quarter, increased GLP-X Core in saw our segment operational the in growth for good The see X% sales globally solutions to applications. Science America. Europe those of improvement EBITDA X-point driven by markets modest decreased in used was from improvements. XXXX. home the as products with for wearables. Pharma's Material segment's the a market quarter and our sales higher-value well a used significant X% end XX%, with of Beauty elastomeric continue as including efforts on fragrance QX ongoing a royalties North year's to and and after our on end the volume sales lower nearly Beauty improved higher-value care care quarter, and components, tooling increased sales adjusted around lower the probiotics, demand products, returning oral launches personal sales in for in margin solid period due customer We to dose increasing of improvement core The Active applications compared product sales prior sales

look market, core X% by sales in closer end the for market Beauty decreased the performance quarter. As the we segment's at

increased for Asia, care over while in lower air personal comparisons. products. Growth for sales primarily sales. Prestige the used sales solutions applications. broad-based in increased demand continued sales focus EBITDA The the reason across softer cost adjusted in nearly to for sales for modestly America, our to prior segment's most up difficult tough hair Regionally, improvement down quarter Fragrance in on comparisons due dispensing Core prior North the XX%, performance, along Overall, to margin strong XX%, the approximately products X% on with North for care due for main regions. was Care the operational despite fragrance America, by This year's a body and sales market due lotions year care was in Europe were quarter the improvement Home and management. margin X-point were more was were quarter America sales. driven Latin

quarter. North flat core sales drinks Volumes Sales decreased were for the prior Europe. but for driven When offsetting market. positively Beverage pass-through impacted bottled sales market sports and looking the softer the costs. at increased negatively core results. core year's the food sales sales of were in segment. and contributing increased X% increased market sales America to concentrates Closures for with with food lower X%, functional water, by compared softness to of closures beverage Closures, resin Turning the sales by by core slightly,

and was Health including year sales the decreased Personal by pass-through cost core driven Asia North and America overall grew the market. costs. were of In Sales as cleaners adjusted our to category, was fourth surface Latin and containment margin Care offset beverage Care, our America, sales Core flat in could quarter efforts of increased decline which XX% which Europe. in ongoing the Growth Europe, X%. not the segment's timing the operational for Closures quarter. largest Home as and X% lower care, resin dish Care The regional for is the compared Beauty, by EBITDA laundry includes for which prior products offset were in quarter, performance demand growth,

the Reported depreciation to higher XXXX, quarter corporate quarter more the was for including approximately second capital the X% our expenditures of and experienced acquisition million $XX year increased $X million amortization Pharma by targets. expenses in approximately on $X we usual, than $XX potential of than segment. the or about over sales. had million million prior and expense XX% In almost In of spent of expenses we quarter, review

XXXX to July finance This to July, matures that that the The provides replace provides June be note unsecured to million. to corporate in entered want facility $XXX facility credit now revolving of a we Also matures loan and $XXX we term also in XXXX. into existing multicurrency for will in near-term XXXX, used early unsecured million. to July, in and up July our up and amended I facility that and purposes. maturities restated matures for of financing for general in financing new

year-to-date XX% year compared to sales Slides X and a per X exchange adjusted our of were comparable and earnings our $X.XX performance increase a core including and up share, X% ago, which rates. show cover $X.XX,

rate excluding expect $X.XX Moving expenses, our of is outlook changes per per in to value to fair and for quarter, continue equity costs acquisition be our the the range share, to earnings in investments and third tax restructuring to quarter quarter Slide third XX.X%. XX.X% $X.XX growth the adjusted third range which summarizes the XX, we for to share. The estimated anticipate unrealized any of

compared for have amortization impact estimate positive currencies are We the between expecting currently to depreciation XXXX to small year $XXX million. to We million and quarter. to prior $XXX be a

Pharma expenditures We allocated expect with and capital capital the million, be to $XXX our majority between segment. in our $XXX of million XXXX toward

value opportunities closing, we leverage balance continue us business, form continue a return sheet in to have to pursue allows with X.X, strong ratio of shareholders to dividends to continue and invest repurchases. a strategic to approximately and the which the of In in

approximately dividend for shares $X XX,XXX payments the cash repurchased $XX about which our to In quarter, we shareholders, addition to million totaled in million. approximately

this returned Over comments the repurchases. At provide time, years, share to few a million last closing $XXX Q&A. dividends more we X will we move Stephan to before than shareholders have through and

Stephan Tanda

by first quarter. had delivery good Thanks, demand third the and proprietary see Bob. driven growth In systems drugs central well drug strong we care. system continue momentum a nasally closing, our as delivered into We nervous for drug for see that as proprietary allergies our eye for and systems, delivery half

sales core drug proprietary delivery we our range XX% target for within our grow full As systems expect a to the of reminder, long-term to X% year.

noisy demand we XXXX grow. injectable our higher-value bit division, we continuing see to While to for products expect a for be

we recovery focus come back, management in consumer dispensing improved see to from volumes benefit as our continued leverage. our we technologies, North For progressive America operational cost expect and on

our continued and to Lastly, XX% performance dividend led last recent top of positive increase on almost X% our strong increase. outlook of year's

the colleague, has retire open we I CFO, Bob I for on to My the before call Now end touch to questions, announcement night. decided made at last Aptar want the Kuhn, up year. this his Aptar of years, to them guidance, Aptar. many has contributions as for of Bob CFO. I and sincerely for XX leadership been our with to XX thank want Bob

place shareholder pleased incredible which next an in create the has our Vanessa selected has is best while CFOs as the of Bob business. that team as instrumental CFO After putting an role and announce strong XXXX. Kanu in one success, grow January of value. process, the a to foundation in financial an doubt, No continue to from building He search played can Xst of Aptar's I'm extensive been Aptar and

working as technology Vanessa CFO expected of that Aptar and this that cost look of operations, will in firm as a the of Aptar CFO global the you with financial our a early tremendous Vanessa call. from. benefit serves M&A XX also the services global experience Manulife her I Financial forward on to was a in welcome International, recently, shareholders to countries. Vanessa her I'm management financial is and institution. start Most the to to of to She and CFO and she year Board greatly services TELUS fourth many quarter designate. the introducing on Directors pleased brings reporting, team, listening of operates in Corporation,

team functions, company. closely to the financial testament integrity open to Accounting call and also the trusted long-term his the help with in a the team continue for working the become a finance segment Ackerman, will adviser, Dan for to would Officer I to promoted the and lead company's of Dan has to As strong that, Chief strategy. With corporate all set place, accounting Aptar. finance up He continue value planning questions. your we dedication have like

Operator

George comes first Instructions] Our Staphos of from [Operator Bank question with America.

George Staphos

and Dan careers their working joining with chapters research support congratulate we everybody Bob, thinks well. their appreciate Vanessa We next our it's all wonderful as been you. in sure everyone. and and your I'm of Aptar on the Vanessa community in that, and

I guess my X questions.

gaining given devices sort of you traditional, of you're necessarily is seeing secondly, of back there's a know, large or that have like migration dispensing as been all, the for share might happening, you share -- a lot, say it your in out? And injectables of obviously, into to, been you peers. looks then of perhaps molecules that's guys the least discussion some your is of proprietary your -- tough of what relative in destocking if First you How regarding comment if injectables for your business remedies. at that heard, much out everything market, but molecule this, spelled comps of not terms affecting we've I'd can

supposed systems injectables And in seeing so where to you growth be how your are dispensing to growth was when proprietary going the be? was

Stephan Tanda

for Look, COVID our and I let echo time. me can team. thanks Bob take George, huge injectable a your have at boom and Great, not one a On did questions, your we business. to only the

injectable you as business that we major was COVID the know, the benefits debt. in get gain As of our credibility

But of antithrombotics that the see that the in were course, high-value the the consume is than the and people of Of in overall things like we some than that, more GLP-X offset. context products, more they growth destocking hospital.

destocking quarter simply of never last grown kind like this noisy quarters mind grow SKUs year's in X.X in of Nevertheless, for comparison. the we and unit X, we half. X has the injectable no quarter noisiness we the it months continue have expect first quarter in in did why from some the almost is you second X sales, the that's to up X, because caught sales But antithrombotics. quarter to quite And in

different magnitude. second the on Danube. it's Pacific administered medicines -- of really Ocean the you drugs this like question, talk nose, Injectable through talking Now then and you're about order is your the maybe

of So we're magnitude. orders different talking

not shift. a there's So really big

We to biologics and grow to continue to especially continue injected see medicines grow.

life offers molecule, a pharma nasal that to management, efficient medicines repurposing all those well-established with injected sometimes of of to maybe maybe medicines. the What is the it's it's perhaps delivery way many repurposing cycle more is that new method, for older like companies delivery drugs, sometimes naloxone, to -- drugs one type

this the hopefully it. injected why part alternative excited and nasal that's so terms an maybe we the epinephrine Ocean, medicine But of takes the to -- to And we from in the the this, biologics. from Pacific of like in are are of nothing it's growth, we sometimes, and delivered. And very but small away speak, growth invested EpiPen overall about and

Operator

turn Baird. now to Panjabi We Ghansham with

Ghansham Panjabi

I career, just George's retirement the missed following big all question. on congrats guess certainly and comments for I to by and Obviously, amazing you'll your last us. on Bob. want echo be up of

on I growth, injectables plus X% pharma, that core down. prescription mean, So sales boosted obviously,

and assumption, if year, relative to back Stephan, or the in continues a in that impact reacceleration the is sales margins as it that, we reverts terms growth half of how should of expect well? the does to injectables grow that towards that X%, So

Stephan Tanda

don't Yes. really top guide unit. We by

in in a is growth from comparison. last that injectables. And you quarter X continued understand my out year in X% see despite full you delivery decline can dispensing window for grow take yes, that yes, leaned the X, XX% already the double-digit but comfort we some reacceleration in giving the drug proprietary we by continue year. from will think I to comments there you quarter to the And the a our -- the technically, growth

Ghansham Panjabi

And then I question... my for do. second

Stephan Tanda

-- On the go margin sorry, ahead.

Ghansham Panjabi

No, ahead. ahead, please. Go go

Stephan Tanda

Yes. a Look, dependent. that on margin, the is of mix obviously, part

are you but injectable highest is certainly, not nice, know, probably business, in devices margin dispensing As our the range. proprietary that

mix So it have always impact. a will

the we repeat million will plant did costs shutdown not the we of France. On $X.X hand, other corporate adjust we the benefit so overall of said, you quarter to nonrecurring in have start Also they also had that as Bob having in X. Closures in QX not that, heard, will

So board. we continue to across [indiscernible] the

Ghansham Panjabi

was then second on segment. question my And the Okay. Beauty

going do in mixed America very spending? very, as unfolding you So how then that year back North your to growth, consumer of of in the half Europe showing just context comment see it relates specific comparisons pockets And of to back on the trend mean year back as tough well. the line for the half, expect fragrances. clearly, of also for I to the half specific to Europe be same segment? for that Should the we

Stephan Tanda

bodes North say, America, obviously, relatively broad-based to think And I Closures. Yes. year. that half see for compared in base in recovery, a the I would and only but we well not first, also the of second Beauty low we

much is that of clearly, of not new that are Now COVID have given going Europe so we to Prestige avalanche out launches bigger, repeat. coming this

also bit enough little particularly Latin will comparisons offset in easier. America, We in not comparison the the that's of to get albeit a We Masstige some the will second growth large year-over-year that's half, that Europe. see actually with nice launches but have

bag, be to North going very bit a overall, it's America, good So growth in but for America. Latin a positive mixed

European an start impact on all on going cylinders, that China, -- a also I'm to Clearly, sales. has it's wondering at firing we're when XX little all again looking bit and

you recall also of lot China. a feed that our sales European into As Beauty

I it's good why but feel that's half bag So of for second of it. Beauty, the about overall, bit mix a a

Ghansham Panjabi

congrats, Bob, again.

Operator

Rizzo comes question with Daniel Jefferies. from next Our

Daniel Rizzo

pharma. think how of the CapEx we mentioned the the mean, or yes, over mostly next I the ending this years, And You about if projects thinking how should starting? should any we -- think about few is was there's just towards decade? I cadence end

Stephan Tanda

look, overall ahead. Bob. -- So go

Robert Kuhn

-- the long-term than capacity for of pharma. would weighting today to opportunities those I again, we have in point pharma to major years increase don't $XXX we've segments. We X lines terms see start was of higher of as other are see, continue. anything touched out over to continuing say, trend just there in as in made high and the all leverage couple I going though, towards do high-performing I see to we industrialize investments CapEx all couple beginning the to still say, on that the horizon I product years. towards we seen that don't decrease the million of past we've But last

spend building on So overall, lines decrease through, increase we've nothing were large but well. at capacity gone the at that we'll like the continue to product pharma. we from high And again, for or slight majority where anything wise point capital, moment are performing continued

Daniel Rizzo

in be driver prepared that's something And could about, then really pharma. . I think, you comments or larger was we about just and coming wondering royalties I if in should ancillary mentioned how or it's a in business the years think that's your an growing revenue it?

Robert Kuhn

that. respond I Danny, can to

So part the drug model of the proprietary that's system. pharmacy, on business ongoing delivery particularly model for business -- our

to a anticipate prepared is really stream. business will it not it this become. But grow. We slightly revenue So it how disclose big continue to we're new could moved point, new model at fully

Stephan Tanda

I -- companies Yes. by to time bought that. a companies. and small just Look, every before project is we enter a there new get If they bigger often long development add

upfront. and funds the all have don't they to everything pay for Sometimes,

into on back the milestone So and get enter payment we royalties end. we sometimes

it's the mix. So it's creation just revenue value part of part model. our overall of And

Operator

Larew now Matt Instructions] We [Operator to Blair. William with turn

Matthew Larew

within talked You about on progress HVP made injectables. you've

in market. your of the capacity new participation seen your to bear perhaps of for since and versus I capacity what curious maybe with you've how would some that assessment the have just today pre-COVID? So be GLPs, helped brought but more rate products both And overall and broadly you've

Stephan Tanda

different Look that's really Both legacy being have you split upgraded increase increased then validated those and of overall, then new in on value has more been and the because capacity France. products. And COVID within the But projects and Investor event, still from in new and capability customers of chain. a and us We then high-value had site is them and sites more steps over number built by remember of the and, may Day, course, our work GLP-X been we've of been biologic X completed of has to projects. Sure. part that. interest York New -- with the Congress smaller the site projects,

GLP-X, SKUs, are one plunger, our X rate business one is the there happy shield, the overall with to are there at in and reminder, grow. continuing least that is and needle participation we a As see quite

an got So growth the to capacity grow to -- this is don't trajectory. we the with the destocking. We ongoing we're market much and fortunately, exposed yes, as not

Matthew Larew

Right. comments obviously And M&A obviously recently in some then remarks, restructuring formulary as moves did diligence your Gerresheimer sheet you the prepared made as about balance debt deal. well

of activity availability some So the market, either just given curious within packaging perspective what you're broader comments space the been seeing? an from proactively, that there's made you or in appetite sort M&A

Stephan Tanda

have [ we a Look, strong balance forge sheet strategic and flexibility. ]

into a moment we solid know, nothing the at periodically, but of opportunities, there's and details have fans ready those but the they acquisitions partnerships don't And buy-size you until get record. are to be announced, are track bolt-on we and evaluate of ongoing. any that's we As of

Operator

now We Fargo. to Hajde Gabe Wells turn with

Gabe Hajde

sure, about question the and I Vanessa. welcome Congratulations had enjoy weather, the Bob, a I'm pipeline. you

been in have up kind of team. and points on a outside. of I data projects pipeline Sometimes always so. has us above trust terms, number just But XX% consistently that of some gave sort think you or project versus XXXX, to tough the We that dollar the

nervous pipeline, where an over in would us reasonable things guys next trend central XX the you it and are today, maybe as the on. that of that give that the you months sits some treatments you expect where are some that maybe XX commercialize frame or maybe these seems months update time you working Can system to

Stephan Tanda

good mentioned we have even very the pipeline. of we things though Yes, continues and think that Look, last sure. that commercializations means grow. pipeline. time I out come feel It We about the to

We have replenished the with amount. or same larger the pipeline

small investor be we on and you when have again think France event, update on pipeline in I the our October will commercial, X. we'll we give October an in X

to Marry and hasn't we'll hear from update, able and of So be anybody deviation an who I trend yet. expect to up sure signed don't pretty love I'm you, that from line. you the time would a significant give

injectable, few help whether whether Also make apps, very it's business a devices, effort. front, whether Biogen in inhalation, deal us progress. our digital the Overall, health whether development I it's to see it's on we good pipeline nasal it's continues elastomeric, inflow. good mentioned we

I dividend overall, the last our that again and prospects also has about XX% informed our X% good So decision feel feel year, good this year. the raise pipeline, almost the after ultimately, about to

the you of gives that kind in confidence a So pipeline. of feeling underlying the

Gabe Hajde

nature you've a coming to the maybe And at what is that past just you all what from perspective like have done M&A the are past? potentially I'll that's market size one more. take you than size in vantage point, again, see larger question. wise your versus the done in From in the or pipeline that assets see another different you stab anything that in there

Stephan Tanda

have there Yes. a in is different. approaches that we cap I this $XX billion. something say principle, not would Clearly, today, market

cap to that half we attitude was with come that still give not us is much general side large than footprint We market be additional big can deals in tend a the same. fan means something geographic the size. the of But management love that deals and So different riskier. bolt-on that when good capabilities, across bolt-on that transformative technologies probably leverage spread company or the these

Operator

America. follow-up a have of from question Bank with Staphos George We

George Staphos

may our how recent the And that at of view and together. Bob, all headlines Stephan M&A peers to more sure call there the even the is were the regarding have sure ever, solid on questions on about the to some here Aptar itself. with this your market end pipeline, you and of normal will you do dispensing listen, standpoint talk competitive as a feel, pipeline rest look, in new of care making carefully earlier? Or point the course Following happens navigate some getting our growing our you making some as earlier obviously, terms pipeline, that announcements as is Can changing? now something take and products, the of a competitive week some will from is Gabe's be focus we'll in in moat of the Do time. the your the landscape commercialization hey, and more

into one. And I the you you're quarter the in fourth the fact question trends we you continued on pharma relatively a fourth in dividend, get increases time, two, easier that maintain year? the little that's with a fact third Q&A not should earlier long Can So raised on necessarily earnings your the from based minimum, pipeline, quarter, covered comps going based consistent quarter Ghansham. at recognize that bit guide in having based to earnings can on from expect, but on throughout you a the question

Stephan Tanda

going question I'm for leave the you, Sure. Bob. to second

Let was assets, competitive the change see attractive assets the hands in take up question. you some packaging referred for a first Look, really strategic. change are the -- to environment. especially Yes. an PE there off They incident picked don't We that me very where firms. by was

and competitive about We environment a don't here all more the ordinary much the in wish good company, talk mean, this cohorts. that [indiscernible] see respected I would I we So specifically change operator. and you in luck. respected

Robert Kuhn

We're going not earnings XXX% on looking you're quarter right. comment forward. to fourth the George, And

to a Come out increase opinion, quarter difficult yet. dividend future want what was George. don't in I one got fourth Don't signal me. to doing transparent is be I we're But I me, think more So my more in very to our I the to just strong XX% push one perfectly forecast, me right? disappoint you. the got confidence of always in on, in in near-term

where quarters. uncertainty depends had there's be the level cycle weak economic fourth very the strong on, and We've a will lot where and It with particularly like right? confidence we probably is, on in elections fourth quarters, that. really had We've going of things

a So where and dividend it we horizon. be let's that see see certainly, indicator But should near-term today increase sitting good goes. here the on future that the

Operator

Tanda closing will now back I hand Q&A. remarks. our concludes This Stephan Mr. to for

Stephan Tanda

All right. Thank you.

solid grows the on costs with growth with EPS structural we ensure top had that gains as So the first the growth earnings top a momentum that the you million than again, focus, further we out quarter vein, line how the pharma bottom also. well strong line. In and half focus not half. We second that as on the double-digit plan as Investor Day continue to adjusted another quarter, that ambitious at adjusted was was line $X.X the as see, shared the for in a QX continuing and we to you in for faster both the nonrecurring growth. continuing our the with ongoing productivity reminder, quarter see And executing

is alive COVID and sit hear from can so well, my and separate rooms. I You Bob in voice,

So that also. certainly help will Consumer healthcare

as operational trajectory. strong plant Also, about reminder, from performance and France. and confident such our future productivity management continue even Cost the closing in as we a X quarter economy, benefit are the will measures we Islamic

and They value As pipeline sustainability. our just appreciate the our customers the it brands the decision we and to well technology bring ongoing including and project strong drug by with underpinned discussed, also again to book we our and dividend innovations. development, XX%. leadership remains our in yet increase to Order engage continue

competitiveness half. Bob, bodes in for see our I the a summer Vanessa, the with and X. I this you for France wish and operational And of all And is looking and again, that, on larger balance investor small increasing behind good commercial strategic generation. and our the to that, adding say, from normalizing road. everybody regional with Dan with on perspective gain I October world. We road. cash well our we strong and And And are footprint are We discussed, second the well event forward and the about you us more sheet X talked would around are a CapEx kind our as to positioned and on an investments Marry flexibility. discuss

Operator

and Ladies today's call gentlemen, to for We'd has your now you like participation. concluded. thank

You may now your disconnect lines.

AptarGroup (ATR) 26 Jul 242024 Q2 Earnings call transcript