Start Time: 09:00 January 1, 0000 9:56 AM ET
AptarGroup, Inc. (NYSE:ATR)
Q3 2024 Earnings Conference Call
October 25, 2024, 09:00 AM ET
Company Participants
Stephan Tanda - President and CEO
Bob Kuhn - EVP and CFO
Vanessa Kanu - CFO Designate
Mary Skafidas - SVP, IR and Communications
Conference Call Participants
George Staphos - Bank of America
Ghansham Panjabi - Baird
Daniel Rizzo - Jefferies
Matt Larew - William Blair
Gabe Hajde - Wells Fargo
Operator
Ladies and gentlemen, thank you all for standing by. Welcome to Aptar's 2024 Third 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 Mrs. Mary Skafidas, Senior Vice President, Investor Relations and Communications. Please go ahead.
Mary Skafidas
Good morning. Hello, everyone, and thanks for being with us today. Our speakers on the call today are Stephan Tanda, President and CEO; and Bob Kuhn, Executive Vice President and CFO. Also joining us on the call today is Vanessa Kanu, our CFO Designate. Our press release and accompanying slide deck have been posted on our website under the Investor Relations page.
During this call, we will be discussing certain non-GAAP financial measures. These measures are reconciled to the most directly comparable GAAP financial measure and the reconciliations are set forth in the press release. Please refer to the press release disseminated yesterday for reconciliations of non-GAAP measures to the most comparable GAAP measures discussed during the earnings call. As always, we will post a replay of this call on our website.
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 third 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 third quarter, I am pleased to report that Aptar achieved core sales growth of 2% and delivered adjusted EPS of $1.49 per share, a 6% increase over the prior year's quarter. We grew adjusted EPS by 15% for the first nine months of the year and are well positioned to grow adjusted EPS double digits for the full year.
The positive results in the quarter were driven by strong operational improvements, ongoing demand for our Pharma proprietary drug delivery systems, growing Pharma royalty revenues and increased demand for our food closures technologies. This quarter, Aptar's adjusted EBITDA margin was at the top end of our long-term range at 23%.