AptarGroup, Inc.: Initiation Of Coverage – Will The Expansion & Refining Of Manufacturing Operations Catalyze Growth?

Aptar Group, Inc. delivered solid core sales growth of 2% in Q4 2023, reaching an adjusted EPS of $1.21 per share, which marked a progression from past results. The increase was attributed to a record year for the company’s proprietary drug delivery systems and its fragrance dispensing technologies. Aptar achieved an increased adjusted EBITDA margin of more than 21%, marking a 3-point elevation from the prior year, backed by robust growth in the pharmaceutical end markets. A heightened demand was witnessed for Aptar’s proprietary pharma drug delivery systems key applications like emergency medicines, allergic rhinitis, central nervous system therapeutics, and nasal decongestions.