AptarGroup, Inc. (NYSE:ATR) Q2 2023 Results Conference Call July 28, 2023 9:00 AM ET
Company Participants
Mary Skafidas - Senior Vice President, Investor Relations and Communications
Stephan Tanda - President and Chief Executive Officer
Bob Kuhn - Executive Vice President and Chief Financial Officer
Conference Call Participants
Ghansham Panjabi - Baird
George Staphos - Bank of America
Daniel Rizzo - Jefferies
Gabe Hadje - Wells Fargo Securities
Operator
Ladies and gentlemen, thank you for standing by. Welcome to Aptar's 2023 Second Quarter Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session.
Introducing today's conference call is Ms. Mary Skafidas, Senior Vice President, Investor Relations and Communications. Please go ahead.
Mary Skafidas
Thank you. Hello, everyone, and thanks for being with us today. Joining me on today's call are Stephan Tanda, President and CEO; and Bob Kuhn, Executive Vice President and CFO. Our press release and accompanying slide deck have been posted on our website. If you are following along on our website, you can advance the slides by hovering over the presentation screen and clicking on the arrows on the right and left.
As always, we will post a replay of this call on our website. Today, this call includes some forward-looking statements. Please refer to our SEC filings to review factors that could cause actual results to differ materially from what we are discussing today.
I would now like to turn the conference call over to Stephan.
Stephan Tanda
Thank you, Mary, and good morning, everyone. We appreciate you joining us on the call today. I will begin my remarks by highlighting our results for the second quarter. Later in the call, Bob Kuhn, our CFO, will provide additional details.
Starting on Slide 3, for the second quarter, I'm pleased to report that Aptar achieved core sales growth of 4% and delivered double-digit adjusted EPS growth with Q2 landing at $1.23 per share due to the continued strong demand for our pharma proprietary dosing and dispensing systems, as well as our fragrance dispensing technologies.
We guided our adjusted earnings per share for the second quarter to be in the range of $1.11 to $1.19. Our adjusted EPS result includes a $0.04 impact from start-up costs related to our injectables expansion program and the rollout of a new enterprise resource planning or ERP system.
Our Pharma segment had a very strong first half of the year. In Q2, the robust demand for our proprietary drug delivery systems once again grew across the majority of end-use categories, including nasal decongestion, saline rinses, eye care and cold and cough as well as allergic rhinitis, emergency medicine, asthma and COPD therapies. Our growth in these categories was largely in line with market demand, except for emergency medicine.