Aptar Earnings: Headline Result Masks Excellent Underlying Margin Improvement in Pharma

Aptar’s core sales grew 5% year on year, while adjusted EBITDA margin fell 190 basis points to 21.3% from the prior year. Segment EBITDA margin for pharma, beauty, and closures declined 80, 70, and 60 basis points, respectively. Shares are up 5% from the previous day’s close on the news.