AptarGroup Profit Tops Estimates, Sales Misses; Provides Weak Q1 Guidance

(RTTNews) - AptarGroup Inc (ATR), a maker of consumer product dispensing systems, on Thursday reported fourth-quarter net earnings of $41.6 million or $0.63 per share compared with $36.9 million or $0.54 per share last year.

Revenues for the quarter were $599.2 million compared with $637.3 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.61 per share on revenues of $618.4 million for the quarter. Analysts' estimates typically exclude special items.

CEO Stephen Hagge said that dDespite certain headwinds, the company was able to achieve core sales growth in the quarter. The pharma segment performed well, somewhat offset by softness in certain markets served by the company's Beauty + Home and Food + Beverage segments, Hagge said.

For the first quarter, the company expects earnings of $0.60 to $0.65 per share, while analysts expect $0.72 per share.

"We currently anticipate that certain foreign currency exchange rates, especially with the Euro, will continue to be a significant headwind on our translated results. Also, the soft demand in select markets that we saw in the fourth quarter could continue into the first quarter," said CEO Hagge.

"We will continue to focus on the areas of our business that we can control, including cost containment, improving operational efficiencies and investing in new solutions that bring value to our customers and end consumers around the globe," Hagge added.