AptarGroup Inc

ATR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$165.00	Cgdftkj	Lkmgcwry

Aptar Earnings: Revenue Growth and Margin Improvement Create Solid Start to the Year

Jay Lee

Apr 29, 2024

Narrow-moat Aptar reported solid first-quarter earnings that were in line with expectations. Revenue was $915 million, or 5% year-over-year core growth, which excludes 1% of currency headwinds. Adjusted EBITDA margin was 19.5%, a respectable 1.7 percentage points better than the same period last year. We maintain our fair value estimate of $147 and view shares as fairly valued.

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