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AptarGroup’s $65 Million Drag: Is The Pharma Growth Story Stronger Than It Looks?

Aptar Group, Inc. reported its second-quarter results for 2026, achieving record reported sales of approximately $1 billion, a 6% year-over-year increase, with core sales (adjusted for currency and acquisitions) growing 1%. The company’s three business segments—Pharma, Beauty, and Closures—all delivered positive sales growth during the quarter. Adjusted earnings per share (EPS) came in at $1.42, exceeding prior guidance, but declined 15% from the prior year at comparable exchange rates. Adjusted EBITDA totaled $213 million, down 3%, with a corresponding margin decline to 20.7% from 22.6% the previous year, primarily due to an unfavorable product mix and operational challenges in Beauty and Closures. The Pharma segment showed resilience amid a planned decline in emergency medicine sales, which negatively impacted core sales by approximately $65 million on a full-year basis, with two-thirds of that decline realized in the first half of 2026.