$ATR

APTARGROUP INC

CIK:0000896622|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net Sales	$ 1,026,508	$ 966,009	$ 2,009,376	$ 1,853,314
Operating Expenses:
Cost of sales (exclusive of depreciation and amortization shown below)	660,991	598,994	1,291,950	1,149,885
Selling, research & development and administrative	157,735	151,139	325,337	306,416
Depreciation and amortization	79,641	69,904	155,366	135,551
Restructuring initiatives	1,419	1,579	2,505	3,621
Total Operating Expenses	899,786	821,616	1,775,158	1,595,473
Operating Income	126,722	144,393	234,218	257,841
Other (Expense) Income:
Interest expense	(16,001)	(10,850)	(32,943)	(22,201)
Interest income	2,787	1,880	6,429	4,694
Net investment gain (loss)	937	2,102	(149)	1,006
Equity in results of affiliates	1,404	2,309	2,118	4,395
Miscellaneous expense, net	(802)	(120)	(855)	(6)
Total Other (Expense) Income	(11,675)	(4,679)	(25,400)	(12,112)
Income before Income Taxes	115,047	139,714	208,818	245,729
Provision for Income Taxes	27,037	27,982	48,041	55,334
Net Income	88,010	111,732	160,777	190,395
Net (Income) Loss Attributable to Noncontrolling Interests	(152)	(12)	(156)	123
Net Income Attributable to Redeemable Noncontrolling Interests	(285)	0	(374)	0
Net Income Attributable to AptarGroup, Inc.	$ 87,573	$ 111,720	$ 160,247	$ 190,518
Net Income Attributable to AptarGroup, Inc. per Common Share:
Basic (in dollars per share)	$ 1.38	$ 1.69	$ 2.51	$ 2.88
Diluted (in dollars per share)	$ 1.36	$ 1.67	$ 2.48	$ 2.83
Average Number of Shares Outstanding:
Basic (in shares)	63,634	65,995	63,841	66,132
Diluted (in shares)	64,208	67,048	64,504	67,262
Dividends per Common Share (in dollars per share)	$ 0.48	$ 0.45	$ 0.96	$ 0.90

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Net income	$ 160,777	$ 190,395
Adjustments to reconcile net income to net cash provided by operations:
Depreciation	132,792	113,720
Amortization	22,574	21,831
Stock-based compensation	24,072	27,208
Provision for CECL	491	769
Loss (gain) on disposition of fixed assets	776	(366)
Net loss (gain) on remeasurement of equity securities	149	(1,006)
Deferred income taxes	(3,098)	(21,322)
Defined benefit plan expense	6,885	6,720
Equity in results of affiliates	(2,118)	(4,395)
Impairment loss	1,550	0
Changes in balance sheet items, excluding effects from foreign currency adjustments:
Accounts and other receivables	(99,336)	(83,207)
Inventories	(48,178)	(15,951)
Prepaid and other current assets	(18,940)	(21,141)
Accounts payable, accrued and other liabilities	67,020	21,653
Income taxes payable	(5,761)	(908)
Retirement and deferred compensation plan liabilities	64	(10,579)
Retirement and deferred compensation plan assets	(13,340)	(7,537)
Other changes, net	(4,199)	(7,184)
Net Cash Provided by Operations	222,180	208,700
Cash Flows from Investing Activities:
Capital expenditures	(122,959)	(120,287)
Proceeds from government grants	0	3,308
Proceeds from sale of property, plant and equipment	2,635	79
(Purchases) and maturities of short-term investments, net	(108)	2,819
Acquisition of businesses, net of cash acquired and release of escrow	(156)	(7,934)
Acquisition of intangible assets, net	(893)	(4,006)
Notes receivable, net	(406)	(49)
Net Cash Used by Investing Activities	(121,887)	(126,070)
Cash Flows from Financing Activities:
Proceeds from notes payable and overdrafts	8,052	0
Repayments of notes payable and overdrafts	(8,820)	0
Proceeds of short-term revolving credit facility, net	37,500	69,103
Proceeds from long-term obligations	6,063	885
Repayments of long-term obligations	(155,942)	(32,950)
Payment of contingent consideration obligation	(3,730)	0
Dividends paid	(61,531)	(59,641)
Proceeds from stock option exercises	18,981	10,561
Purchase of treasury stock	(149,973)	(150,000)
Redeemable noncontrolling interest	1,112	0
Net Cash Used by Financing Activities	(308,288)	(162,042)
Effect of Exchange Rate Changes on Cash	(4,027)	17,296
Net Decrease in Cash and Equivalents and Restricted Cash	(212,022)	(62,116)
Cash and Equivalents and Restricted Cash at Beginning of Period	404,849	223,844
Cash and Equivalents and Restricted Cash at End of Period	192,827	161,728
Restricted cash included in the line item prepaid and other on the Condensed Consolidated Balance Sheets as shown below represents amounts held in escrow.
Cash and equivalents	190,402	161,728
Restricted cash included in prepaid and other	606	0
Restricted cash included in miscellaneous	1,819	0
Total Cash and Equivalents and Restricted Cash shown in the Statement of Cash Flows	$ 192,827	$ 161,728

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and equivalents	$ 190,402	$ 402,424
Short-term investments	6,864	7,109
Accounts and notes receivable, less current expected credit loss (“CECL”) of $16,995 in 2026 and $17,732 in 2025	897,660	803,830
Inventories	580,136	537,845
Prepaid and other	159,754	142,354
Total Current Assets	1,834,816	1,893,562
Land	30,810	31,503
Buildings and improvements	884,910	885,936
Machinery and equipment	3,699,708	3,658,289
Property, Plant and Equipment, Gross	4,615,428	4,575,728
Less: Accumulated depreciation	(2,969,447)	(2,899,249)
Property, Plant and Equipment, Net	1,645,981	1,676,479
Investments in equity securities	134,751	131,030
Goodwill	1,069,666	1,077,898
Intangible assets, net	233,739	255,339
Operating lease right-of-use assets	61,036	65,698
Miscellaneous	153,225	152,713
Total Other Assets	1,652,417	1,682,678
Total Assets	5,133,214	5,252,719
Current Liabilities:
Short-term obligations	217,540	183,947
Current maturities of long-term obligations, net of unamortized debt issuance costs	31,699	159,584
Accounts payable, accrued and other liabilities	887,308	822,913
Total Current Liabilities	1,136,547	1,166,444
Long-Term Obligations, net of unamortized debt issuance costs	1,118,415	1,139,433
Deferred income taxes	17,226	19,649
Retirement and deferred compensation plans	66,143	67,596
Operating lease liabilities	43,911	47,940
Deferred and other non-current liabilities	76,527	99,432
Commitments and contingencies - (See Note 12)	0	0
Total Deferred Liabilities and Other	203,807	234,617
Mezzanine Equity:
Redeemable Noncontrolling Interests	27,722	26,244
Total Mezzanine Equity	27,722	26,244
AptarGroup, Inc. stockholders’ equity:
Common stock, $.01 par value, 199.0 million shares authorized, 73.2 million and 72.8 million shares issued as of June 30, 2026 and December 31, 2025, respectively	732	728
Capital in excess of par value	1,190,755	1,165,518
Retained earnings	2,741,148	2,642,552
Accumulated other comprehensive loss	(207,325)	(186,382)
Less: Treasury stock at cost, 9.6 million and 8.6 million shares as of June 30, 2026 and December 31, 2025	(1,097,017)	(954,320)
Total AptarGroup, Inc. Stockholders’ Equity	2,628,293	2,668,096
Noncontrolling interests in subsidiaries	18,430	17,885
Total Stockholders’ Equity	2,646,723	2,685,981
Total Liabilities, Mezzanine Equity and Stockholders’ Equity	$ 5,133,214	$ 5,252,719