Earnings

Aptar Third-Quarter Core Sales Growth Rebounds After a Slow Start

The Tip Desk · October 30, 2026 · 3 min read

Third-quarter 2026 reported sales reached $1.02 billion as Russia deconsolidation impacts of $60.4 million after tax weighed on reported earnings of $0.51 a share. Adjusted earnings were $1.52 a share.

AptarGroup, Inc. (ATR), a global leader in drug delivery and consumer product dispensing, reported third-quarter 2026 sales of $1.02 billion, up 6% from a year earlier, as core sales growth accelerated to 5% after a 1% increase in the second quarter and a flat core print in the first. Russia deconsolidation impacts of $60.4 million after tax, or $0.94 per diluted share, weighed on reported earnings of $0.51 a share.

The rebound in organic growth was broad-based. Beauty core sales rose 8% after 1% in the second quarter, and Closures core sales rose 11% after 4%. Pharma core sales were up 1%, matching the second quarter; adjusting for emergency-medicine destocking, Pharma delivered 8% core growth.

Reported net income was $33 million, or $0.51 a share, down from $1.92 a year earlier. The company deconsolidated its Russian subsidiary after a governmental decree placed the unit under external administration. Aptar recorded a $58.0 million loss on deconsolidation, including about $30.0 million of cash held by the subsidiary. The combined impact was $61.2 million before tax and $60.4 million after tax, or $0.94 per diluted share. Adjusted earnings were $1.52 a share, at the higher end of the company’s guidance range, compared with $1.62 a year earlier at comparable exchange rates.

Adjusted EBITDA margin was 21.3%, compared with 23.2% in the year-ago quarter. Pharma’s adjusted EBITDA margin was 36.4%, down 80 basis points from a year earlier, which the company said remained above its long-term target despite a short-term unfavorable product mix related to destocking. Royalties and productivity improvements continued to support that margin. Beauty’s adjusted EBITDA margin was 11.4%, down 70 basis points, including unfavorable mix and ongoing challenges in North American operations. Closures’ adjusted EBITDA margin was 15.5%, down 60 basis points, as pass-throughs of higher input costs lifted core sales but diluted the margin.

Pharma’s reported sales were $454.0 million. The company said performance was supported by central nervous system and pulmonary therapies, nasal decongestants, eye care and dermal drug delivery, and demand related to biologics, vaccines and GLP-1 therapies, partially offset by the anticipated reduction in emergency medicine sales. Beauty’s reported sales were $357.4 million, with increased demand for prestige fragrance dispensing, color cosmetics and hair care, plus pass-throughs of higher input costs. Closures’ reported sales were $207.8 million, with beverage and food sales led by bottled water and concentrates, latest beverage dispensing closure innovation and condiment sales.

Gael Touya, who began as president and chief executive, said the company delivered broad-based revenue growth across all three segments and that Pharma’s pipeline remains strong. The company returned $61 million to shareholders in the quarter through share repurchases and dividends, including about 234 thousand shares for $30 million. After the quarter, the board raised the quarterly cash dividend from $0.48 to $0.50 a share, payable December 3, 2026.

Aptar currently expects fourth-quarter 2026 adjusted earnings of $1.39 to $1.47 a share, assuming an effective tax rate of 17.5% to 19.5% and a 1.12 euro-to-dollar exchange rate. Touya said the company expects to finish the year supported by continued Pharma growth, particularly in consumer healthcare and injectables, and without the headwind from emergency-medicine destocking, with Closures momentum in beverage technologies and a focus in Beauty on improving the long-term North American trajectory.

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