AptarGroup, Inc. (NYSE:ATR) Q2 2024 Earnings Conference Call July 26, 2024 9:00 AM ET
Company Participants
Mary Skafidas - Senior Vice President, Investor Relations and Communications
Stephan Tanda - President & Chief Executive Officer
Bob Kuhn - Executive Vice President & Chief Financial Officer
Conference Call Participants
Ghansham Panjabi - Baird
George Staphos - Bank of America
Daniel Rizzo - Jefferies
Matt Larew - William Blair
Gabe Hajde - Wells Fargo
Operator
Ladies and gentlemen, thank you for standing. Welcome to Aptar's 2024 Second Quarter Conference Call. At this time, all participants are in listen-only mode. Later we will conduct the question-and-answer session.
Introducing today's conference call is Mrs. 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 the 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 also 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
Thank you, Mary, and good morning, everyone. We appreciate you joining us on the call today. I will begin my remarks by highlighting our second quarter results. Later in the call, Bob Kuhn, our CFO will provide additional details on key drivers for the quarter.
Starting on Slide 3, for the second quarter, I'm pleased to report that Aptar achieved core sales growth of 3% and delivered adjusted EPS of $1.37 per share, a 12% increase over the prior year quarter. We grew adjusted EPS double-digits for the first half of the year and in the quarter. Additionally, due to our confidence in our performance, we recently raised the dividend by approximately 10% on top of an almost 8% increase last year. The positive results in the quarter were driven by strong demand for our pharma proprietary drug delivery systems as well as continued broad based margin improvement.