Aptar Sales Rise 6% but Russia Exit Cuts Reported EPS; Dividend Raised to $0.50

Aptar's third-quarter sales rose 6% to $1.02 billion, but reported earnings per share sank to $0.51 from $1.92 after the packaging and drug-delivery company took a $58 million loss on deconsolidating its Russian subsidiary, according to the earnings release it filed with an 8-K on Thursday.

Adjusted earnings per share were $1.52, which the company said was at the higher end of its guidance range, compared with $1.62 a year earlier at comparable exchange rates. Core sales, which strip out currency and acquisition effects, rose 5%.

Russia exit hits the bottom line

Aptar said it deconsolidated the Russian unit during the quarter after a governmental decree placed it under external administration, resulting in a loss of control. The $58.0 million loss included about $30.0 million of cash held by the subsidiary.

Including receivable reserves and legal costs, the combined hit was $61.2 million before tax and $60.4 million after tax, or $0.94 per diluted share. Because the charge was not tax-deductible, the reported effective tax rate jumped to 45.6%. Net income attributable to Aptar fell to $32.6 million from $127.9 million.

All three segments grow

"We delivered broad-based revenue growth across all three segments," President and CEO Gael Touya said in the release. "As I begin my tenure as CEO, our direction is clear: deepen our position with customers, accelerate innovation, execute with greater consistency and allocate capital thoughtfully."

Closures led the way, with reported and core sales both up 11% on strong demand for bottled water, concentrates and condiments and momentum from a new beverage dispensing closure. Its adjusted EBITDA margin fell 60 basis points to 15.5% as cost pass-throughs diluted margins.

Beauty sales rose 9%, with core sales up 8%, on demand for prestige fragrance dispensing, color cosmetics and hair care. Its adjusted EBITDA margin slipped 70 basis points to 11.4%, which Aptar attributed partly to unfavorable mix and ongoing challenges in North America.

Pharma grew reported sales 2% and core sales 1%, held back by an anticipated drop in emergency medicine sales due to destocking. Excluding that effect, Pharma core sales grew 8%, the company said. The segment's adjusted EBITDA margin was 36.4%, down 80 basis points.

Companywide adjusted EBITDA margin was 21.3%, versus 23.2% a year earlier.

Outlook and payout

Aptar expects fourth-quarter adjusted earnings per share of $1.39 to $1.47, assuming an effective tax rate of 17.5% to 19.5% and a euro exchange rate of $1.12.

Touya said he expects the company "to finish the year strong," citing continued Pharma growth, particularly in consumer healthcare and injectables, "without the headwind from emergency medicine destocking."

The board raised the quarterly dividend to $0.50 a share from $0.48, payable Dec. 3 to holders of record on Nov. 12. Aptar repurchased about 234,000 shares for $30 million in the quarter and returned $61 million to shareholders through buybacks and dividends, bringing the year-to-date total to $272 million.

For the first nine months, sales rose 8% to $3.03 billion, while adjusted EPS fell 10% to $4.13.

By the numbers

• $1.02 billion: third-quarter sales, up 6%; core sales up 5%
• $1.52: adjusted EPS, versus $1.62 a year earlier
• $0.51: reported EPS, including a $0.94 hit from the Russia deconsolidation
• 11%: Closures core sales growth
• $1.39 to $1.47: fourth-quarter adjusted EPS guidance
• $0.50: new quarterly dividend, up from $0.48

Aptar scheduled a conference call for 8 a.m. Central Time on Friday, Oct. 30.

Sources

1. AptarGroup Form 8-K with third-quarter 2026 earnings release (Exhibit 99.1), filed Oct. 29, 2026 (accession 0000896622-26-000187)

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