AptarGroup, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>AptarGroup, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and operations for the period ending March 31, 2024.</b>

AI Summary

APTARGROUP, INC. (ATR) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. AptarGroup, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. AptarGroup, Inc. is incorporated in Delaware. The company's principal business is in Plastics Products, NEC.

Why It Matters

For investors and stakeholders tracking APTARGROUP, INC., this filing contains several important signals. This 10-Q filing provides investors with the latest financial data and operational updates for AptarGroup, Inc. for the first quarter of 2024, enabling informed investment decisions. Understanding the details within this report is crucial for assessing the company's current financial health, performance trends, and potential future outlook in the plastics products sector.

Risk Assessment

Risk Level: low — APTARGROUP, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical reporting.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand AptarGroup's Q1 2024 performance and outlook.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-04-26 — Filed As Of Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (2024-01-01 2024-03-31)
• 2023-01-01 — Prior Year Quarter Start Date (2023-01-01 2023-03-31)

Key Players & Entities

• APTARGROUP, INC. (company) — FILER
• ATR (company) — tk
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-04-26 (date) — FILED AS OF DATE
• Crystal Lake, IL (location) — BUSINESS ADDRESS CITY, STATE
• DE (location) — STATE OF INCORPORATION
• 3089 (industry_code) — STANDARD INDUSTRIAL CLASSIFICATION
• 1934 Act (regulation) — SEC ACT

FAQ

Industry Context

AptarGroup, Inc. operates within the Plastics Products, NEC industry (SIC 3089).

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the consolidated balance sheets for Q1 2024.
2. Review the consolidated statements of operations for Q1 2024.
3. Examine the consolidated statements of cash flows for Q1 2024.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Filing Documents

• atr-20240331.htm (10-Q) — 1592KB
• atr-20240331x10qexx101.htm (EX-10.1) — 64KB
• atr-20240331x10qexx311.htm (EX-31.1) — 11KB
• atr-20240331x10qexx312.htm (EX-31.2) — 12KB
• atr-20240331x10qexx321.htm (EX-32.1) — 5KB
• atr-20240331x10qexx322.htm (EX-32.2) — 5KB
• atr-20240331_g1.jpg (GRAPHIC) — 3KB
• image_0.jpg (GRAPHIC) — 7KB
• 0000896622-24-000021.txt (&nbsp;) — 9977KB
• atr-20240331.xsd (EX-101.SCH) — 63KB
• atr-20240331_cal.xml (EX-101.CAL) — 105KB
• atr-20240331_def.xml (EX-101.DEF) — 349KB
• atr-20240331_lab.xml (EX-101.LAB) — 840KB
• atr-20240331_pre.xml (EX-101.PRE) — 607KB
• atr-20240331_htm.xml (XML) — 1634KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Statements of Income – Three Months Ended March 3 1 , 202 4 and 202 3 1 Condensed Consolidated Statements of Comprehensive Income – Three Months Ended March 3 1 , 202 4 and 202 3 2 Condensed Consolidated Balance Sheets – March 3 1 , 202 4 and December 31, 202 3 3 Condensed Consolidated Statements of Changes in Equity – Three Months Ended March 3 1 , 202 4 and 202 3 5 Condensed Consolidated Statements of Cash Flows - Three Months Ended March 3 1 , 202 4 and 202 3 6 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 39 Part II. OTHER INFORMATION Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 5. Other Information 40 Item 6. Exhibits 41 Signature 42 i Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) AptarGroup, Inc. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) In thousands, except per share amounts Three Months Ended March 31, 2024 2023 Net Sales $ 915,448 $ 860,067 Operating Expenses: Cost of sales (exclusive of depreciation and amortization shown below) 582,756 557,422 Selling, research & development and administrative 152,780 147,923 Depreciation and amortization 64,349 59,259 Restructuring initiatives 3,480 11,524 Total Operating Expenses 803,365 776,128 Operating Income 112,083 83,939 Other (Expense) Income: Interest expense ( 10,175 ) ( 10,228 ) Interest income 2,898 672 Net investment gain 592 188 Equity in results of affiliates ( 221 ) ( 131 ) Miscellaneous expense, net ( 859 ) ( 1,171 ) Total Other Expense ( 7,765 ) ( 10,670 ) Income before Income Taxes 104,318 73,269 Provision for Income Taxes 21,385 18,683 Net Income $ 82,933 $ 54,586 Net Loss Attributable to Noncontrolling Interests $ 171 $ 178 Net Income Attributable to AptarGroup, Inc. $ 83,104 $ 54,764 Net Income Attributable to AptarGroup, Inc. per Common Share: Basic $ 1.26 $ 0.84 Diluted $ 1.23 $ 0.82 Average Number of Shares Outstanding: Basic 66,064 65,372 Diluted 67,432 66,735 Dividends per Common Share $ 0.41 $ 0.38 See accompanying unaudited Notes to Condensed Consolidated Financial Statements. 1 Table of Contents AptarGroup, Inc. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) In thousands Three Months Ended March 31, 2024 2023 Net Income $ 82,933 $ 54,586 Other Comprehensive (Loss) Income: Foreign currency translation adjustments ( 42,102 ) 25,624 Changes in derivative gains (losses), net of tax 2,908 ( 1,367 ) Defined benefit pension plan, net of tax Actuarial gain, net of tax 80 61 Amortization of prior service cost included in net income, net of tax 20 32 Amortization of net loss included in net income, net of tax 183 160 Total defined benefit

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View this 10-Q filing on SEC EDGAR