AptarGroup, Inc. (NYSE:ATR) Q1 2022 Earnings Conference Call April 29, 2022 9:00 AM ET

Company Participants

Matt DellaMaria - SVP, Investor Relations and Communications

Stephan Tanda - President and CEO

Bob Kuhn - Executive Vice President and CFO

Conference Call Participants

George Staphos - Bank of America Merrill Lynch

Mark Wilde - BMO Capital Markets

Kyle White - Deutsche Bank

Adam Josephson - KeyBanc Capital Markets

John Gillen - William Blair & Company

Gabe Hajde - Wells Fargo Securities

Operator

Ladies and gentlemen, thank you for standing by. Welcome to Aptar's 2022 First Quarter Conference Call. [Operator Instructions] Introducing today's conference call is Mr. Matt DellaMaria, Senior Vice President, Investor Relations and Communications. Please go ahead, sir.

Matt DellaMaria

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's 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

Thanks, Matt, and good morning, everyone. We appreciate you joining us today and I hope that you're doing well.

Turning to slide 3, as highlighted in our press release. We reported very good performance in the first quarter with core and reported sales growth in each of our segments, resulting in total reported sales for Aptar increasing 9% and core sales increasing 13%. Before I cover our segment results, I would like to spend a few moments talking about our continued resiliency as a company during this uncertain economic environment where we face pandemic uncertainties, rising inflation, supply chain issues, labor shortages, the war in Ukraine and the recent COVID-19 variant outbreaks and lockdowns in China. To briefly comment on the latter two subjects. We are deeply saddened by the invasion and ongoing war in Ukraine. And our hearts and solidarity go out to everyone who is unfairly caught up in the midst of the tragic events unfolding. And on the recent COVID-19 variant outbreaks and lockdowns in China, we are focused on the health and safety of our employees. And we are updating our COVID-19 protocols where needed. While only a few of our facilities have been temporarily affected thus far. We are closely monitoring the impact on consumer consumption levels and demand patterns. Neither the war in Ukraine nor the COVID-19 outbreak in China has had a significant direct impact on our first quarter results. However, we are seeing indirect effects, including soaring energy costs in Europe. And some supply chain disruptions in both regions. We will continue to monitor the evolving situation closely and adapt our approach if necessary to serve patients, consumers and customers to the best of our abilities.