The following is a summary of the AptarGroup, Inc. (ATR) Q3 2024 Earnings Conference Call Transcript:

Financial Performance:

• AptarGroup reported a strong Q3 with core sales growth of 2% and adjusted EPS of $1.49 which is a 6% increase compared to the prior year's quarter.

• For the first nine months, adjusted EPS grew by 15%, reflecting strong execution and efficiency improvements.

• Adjusted EBITDA reached $208 million, up 8% from the previous year, driven by operational improvements and expanding margins.

• Free cash flow significantly increased to $255 million for the nine months ended September 30, compared to $124 million in the prior year.

Business Progress:

• AptarGroup acquired technology assets from SipNose, enhancing intranasal drug delivery capabilities.

• Expanded injectable facilities in Normandy and New York support the growing market needs especially in high-value biologics.

• Announced the closing of a joint venture in China, strengthening regional footprint and enhancing manufacturing capabilities.

Opportunities:

• Continued growth in proprietary drug delivery systems, especially in emerging therapeutic areas such as allergy, CNS and emergency medications.

• Growth in Pharma royalty revenues from partnerships in drug development processes.

• Expansion of offerings in injectables driving increased demand.

Risks:

• Seasonal inventory adjustments in beauty and cough & cold markets might impact short-term results.

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