Slides
Page 1
July 31, 2026 Q2 2026 Results Stephan B. Tanda, Aptar President and CEO Vanessa Kanu, Executive Vice President and CFO Gael Touya, President of Aptar Pharma & Aptar President and CEO Designate
Page 2
Forward Looking Statements & Non-GAAP Financial Measures 2 This presentation includes forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on management’s beliefs and assumptions in light of information currently available to management. Accordingly, the Company’s actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in the Company’s operations and business environment, including, among other factors, those described in documents filed by the Company with the Securities and Exchange Commission, specifically its Form 10-Ks and 10-Qs. The Company does not assume any obligation to update, amend or clarify such statements to reflect new events, information or circumstances after the date of this presentation. During the course of this presentation, certain non-GAAP financial information will be presented. Refer to the Appendix at the end of this presentation for additional information and a reconciliation to the most directly comparable GAAP measures. However, we are not able to reconcile forward-looking non-GAAP financial measures because certain reconciling items are dependent on future events that either cannot be controlled, such as exchange rates and changes in the fair value of equity investments, or reliably predicted without unreasonable effort because they are not part of the company's routine activities, such as restructuring and acquisition costs. The variability of these items could have a significant impact on our future GAAP financial results. We present earnings before net interest and taxes (“EBIT”), earnings before net interest, taxes, depreciation and amortization (“EBITDA”) and adjusted earnings per share. We also present our adjusted earnings before net interest and taxes (“Adjusted EBIT”), adjusted earnings before net interest, taxes, depreciation and amortization (“Adjusted EBITDA”) and adjusted earnings per share, all of which exclude restructuring initiatives, acquisition-related costs, purchase accounting adjustments related to acquisitions and investments, net unrealized investment gains and losses related to observable market price changes on equity securities and other special items. Adjusted EBITDA margin is adjusted EBITDA divided by reported net sales. For the year ended December 31, 2025 and quarter ended June 30, 2026, “other special items” include costs incurred related to non-ordinary-course litigation, specifically: lawsuits between Aptar and ARS Pharmaceuticals, Inc. involving Aptar’s claims of trade-secret misappropriation and contractual breaches and ARS’s lawsuit against Aptar under U.S. antitrust laws; and patent infringement actions filed by Nemera La Verpillière SAS in Germany and France relating to certain of Aptar’s ophthalmic products. These costs are excluded because they do not reflect our core operating performance. Please refer to "Legal Proceedings" within Note 12 - Commitments and Contingencies within Aptar’s Form 10-Q for the quarterly period ended June 30, 2026 for additional information. Our Operations Outlook is also provided on a non-U.S. GAAP basis because certain reconciling items are dependent on future events that either cannot be controlled, such as exchange rates and changes in the fair value of equity investments, or reliably predicted because they are not part of our routine activities, such as restructuring initiatives and acquisition-related costs. Core sales exclude acquisitions and changes in foreign currency sales. Core sales growth is calculated as current sales, less acquisitions, less constant currency prior year sales, divided by constant currency prior year sales. Free cash flow is calculated as cash provided by operating activities less capital expenditures plus proceeds from government grants related to capital expenditures. Return on Investment Capital (ROIC) is calculated as Adjusted Earnings before Net Interest and Taxes, less Tax Effect / Average Capital, whereas Average Capital is the average of beginning of year capital and Capital is Equity plus Debt less Cash. We use free cash flow to measure cash flow generated by operations that is available for dividends, share repurchases, acquisitions and debt repayment.
Page 3
3 Q2 2026 Financial Highlights * See accompanying slide titled “Forward-Looking Statements and Non-GAAP Financial Measures” for definition and Appendix for reconciliation to the most directly comparable GAAP measure. 6% Q2 Reported Sales Growth 1% Q2 Core Sales Growth* $1.36 Q2 Reported Earnings Per Share $1.42 Q2 Adjusted Earnings Per Share* Second Quarter 2026 Highlights: • Delivered revenue growth across all three segments during the quarter • Aptar Pharma continued to lead the way, driven by double-digit growth in consumer healthcare, and high single-digit growth in injectables and prescription, excluding emergency medicine • In Beauty, strong demand in prestige fragrance solutions supported growth, while Closures benefited from continued strength in beverage dispensing • While margins are currently impacted by product mix and operational factors, we remain confident in the company’s long-term margin structure, supported by strong demand trends across key Pharma franchises, continued momentum in Closures, and the actions underway to enhance operational performance
Page 4
Recent News, Products and Technology Highlights Pharma Beauty Closures Fragrance pump for a Middle East fragrance range by French Corner Foundational U.S. patent application for N-SorbSM nitrosamine risk mitigation technology approved Cosmetic pump for Lierac Glow Fresh serum Activ-Film technology in a fishbone blister for a capsule-based dry powder inhalation drug product in the US Tab Top Closure for Heinz dipping sauces in North America 4 Spray Pump for L’Occitane Amande Sublime body mist U.S. FDA update to multiple Product Specific Guidance documents for generic inhaled therapies First commercial launch of NeoDropper, our auto-loading, dosing dropper technology featured on Dermalogica’s FutureCode Booster Closure with SimpliSqueezeTM valve for children’s sports drink in China Custom Flip Top with SimpliSqueezeTM Valve for Heinz Zero Sugar Ketchup in Latin America Closure with SimpliSqueezeTM valve for one-handed opening for children’s electrolyte drink in China Launched integrated system- level framework to support injectable drug development Chiesi approval from UK Medicines and Healthcare products Regulatory Agency for a pMDI utilizing a next-generation propellants Fragrance pump for refillable fragrances featured on Lancôme’s La Vie Est Belle Elixir
Page 5
5 Recent Recognitions Forbes One of the World’s Top Companies For Women from 2021-2025 Newsweek In the Top 100 America’s Most Responsible Companies 2020-2026 CDP Recognized as a Supplier Engagement Leader 2020-2025 EcoVadis Sustainability Rating Gold Top 5% Since 2017 ISS ESG Achieved Prime Status from 2020-2025 USA Today One of America’s Climate Leaders 2023-2026 Our award-winning commitment to sustainability is a competitive advantage CDP Climate A List 2024-2025 TIME One of the World’s Most Sustainable Companies 2024-2026 TIME One of America’s Best Companies 83 out of 1000 2026
Page 6
Second Quarter 2026 Reported Results 6 * See accompanying slide titled “Forward-Looking Statements & Non-GAAP Financial Measures” for definition and Appendix for reconciliation to the most directly comparable GAAP measure. $966 $1,027 $- $200 $400 $600 $800 $1,000 $1,200 Q2 2025 Q2 2026 Q2 Reported Sales (in millions $) 6% +2% Currency Effects +3% Acquisitions +1% Core Sales Growth* $1.67 $1.36 $- $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 $1.60 $1.80 Q2 2025 Q2 2026 Q2 Reported EPS -19% 20.0% Reported Effective Tax Rate Q2 2025 23.5% Reported Effective Tax Rate Q2 2026
Page 7
$218 $213 $- $40 $80 $120 $160 $200 $240 $280 Q2 2025 Q2 2026 Q2 Adjusted EBITDA (in millions $) -3% $1.68 $1.42 $- $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 $1.60 $1.80 Q2 2025 Q2 2026 Q2 Adjusted EPS -15% Second Quarter 2026 Adj. EPS and Adj. EBITDA 7 * See accompanying slide titled “Forward-Looking Statements & Non-GAAP Financial Measures” for definition and Appendix for reconciliation to the most directly comparable GAAP measure. ** 20.0% Effective Tax Rate Adjusted Earnings* Q2 2025 23.7% Effective Tax Rate Adjusted Earnings* Q2 2026
Page 8
Pharma Second Quarter 2026 Results 8 Q2 2026 Core Sales* by Market • Prescription core sales decreased 7% • Consumer Healthcare core sales increased 15% • Injectables core sales increased 9% • Active Material Science core sales decreased 2% Aptar Pharma’s Adj. EBITDA Margin* represented a 180 basis point decline over the prior year * See accompanying slide titled “Forward-Looking Statements & Non-GAAP Financial Measures” for definition and Appendix for reconciliation to the most directly comparable GAAP measure. YTD 2026 Percentage of Sales by Market 70% 20% 10% Proprietary Drug Delivery Systems* Injectables Active Material Science Solutions **Proprietary Drug Delivery Devices includes Prescription, Consumer Health Care, and Digital Health Markets *
Page 9
Beauty Second Quarter 2026 Results 9* See accompanying slide titled “Forward-Looking Statements & Non-GAAP Financial Measures” for definition and Appendix for reconciliation to the most directly comparable GAAP measure. Q2 2026 Core Sales* by Market • Fragrance, Facial Skincare and Color Cosmetics (F&F) core sales increased 2% • Personal Care core sales were flat Aptar Beauty’s Adj. EBITDA Margin* represented a 190 basis point decline over the prior year YTD 2026 Percentage of Sales by Market **F&F includes Fragrance, Facial Skincare and Color Cosmetics 60% 36% 4% Fragrance and Facial skincare Personal Care Home Care F&F** *
Page 10
Closures Second Quarter 2026 Results 10 Q2 2026 Core Sales* by Market • Food core sales decreased 1% • Beverage core sales increased 14% Aptar Closures’ Adj. EBITDA Margin* represented a 200 basis point decline over the prior year * See accompanying slide titled “Forward-Looking Statements & Non-GAAP Financial Measures” for definition and Appendix for reconciliation to the most directly comparable GAAP measure. YTD 2026 Percentage of Sales by Market 48% 29% 16% 7% Food Beverage Personal Care Other *Other includes Beauty and Home Care markets * *
Page 11
Year-to-Date 2026 Reported Results 11 * See accompanying slide titled “Forward-Looking Statements & Non-GAAP Financial Measures” for definition and Appendix for reconciliation to the most directly comparable GAAP measure. $1,853 $2,009 $- $500 $1,000 $1,500 $2,000 $2,500 YTD 2025 YTD 2026 YTD Reported Sales (in millions $) 8% +4% Currency Effects +3% Acquisitions +1% Core Sales Growth* $2.83 $2.48 $- $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 YTD 2025 YTD 2026 YTD Reported EPS -12% 22.5% Reported Effective Tax Rate YTD 2025 23.0% Reported Effective Tax Rate YTD 2026
Page 12
$402 $401 $- $100 $200 $300 $400 $500 YTD 2025 YTD 2026 YTD Adjusted EBITDA (in millions $) Flat $2.98 $2.61 $- $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 YTD 2025 YTD 2026 YTD Adjusted EPS -12% Year-to-Date 2026 Adj. EPS and Adj. EBITDA 12 * See accompanying slide titled “Forward-Looking Statements & Non-GAAP Financial Measures” for definition and Appendix for reconciliation to the most directly comparable GAAP measure. ** 22.6% Effective Tax Rate Adjusted Earnings* YTD 2025 23.2% Effective Tax Rate Adjusted Earnings* YTD 2026
Page 13
Outlook 13 Outlook Highlights • In alignment with Gael Touya, who will assume the role of CEO on September 1, we enter the third quarter with confidence • We expect solid growth across all three segments • In Pharma, injectables and consumer healthcare should continue to perform well • Demand for prescription dispensing systems, excluding emergency medicine, remains strong, and as previously discussed we anticipate the headwind of emergency medicine destocking to abate by the fourth quarter • We believe Beauty will see growth in key areas, such as in the fragrance and facial skin care end market • In Closures, we anticipate demand to remain strong and operational performance continues to improve • Supported by our innovation pipeline and strong market positions, these trends support our outlook for the third quarter $1.92 $1.61 $1.45 – $1.53 $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 $1.60 $1.80 $2.00 Q3 2025 Reported Q3 2025 Adjusted* Q3 2026 Adjusted* Earnings Per Share * See accompanying slide titled “Forward-Looking Statements & Non-GAAP Financial Measures” for definition and Appendix for reconciliation, as applicable, to the most directly comparable GAAP measure.
Page 14
Key Highlights for Q3 / FY2026 14 Effective Tax Rate 22.5% to 24.5% for Q3 2026 Prior year Q3 comparable adjusted effective tax rate = 20.4% Currency Guidance (Euro) 1.14 for Q3 2026 Assuming a Euro to USD Exchange Rate CapEx Range for Full Year 2026 $260 to $280 million Net of any government grants, with the majority of capital allocated toward our pharma segment Depreciation and Amortization Range for Full Year 2026 $310 to $320 million Including recently closed acquisitions, timing of capitalization of assets and FX Full Year (Expected) Quarterly (Expected)
Page 15
Appendix
Page 16
16 Reconciliation of Adjusted EBIT and Adjusted EBITDA to Net Income (Unaudited) ($ In Thousands)
Page 17
17 Reconciliation of Adjusted EBIT and Adjusted EBITDA to Net Income (Unaudited) ($ In Thousands)
Page 18
18 Reconciliation of Adjusted Earnings Per Diluted Share (Unaudited) ($ In Thousands Except Per Share Data)
Page 19
19 Reconciliation of Adjusted Earnings Per Diluted Share (Unaudited) ($ In Thousands, Except Per Share Data)
Page 20
20 Reconciliation of Reported to Core Sales Growth by Market (Rounded to the nearest whole percent)
Page 21
21 Reconciliation of Adjusted EBIT and Adjusted EBITDA to Net Income (Unaudited) ($ In Thousands)
Page 22
22 Reconciliation of Adjusted EBIT and Adjusted EBITDA to Net Income (Unaudited) ($ In Thousands)
Page 23
23 Reconciliation of Adjusted EBIT After Taxes to Net Income (Unaudited) ($ In Thousands)
Page 24
24 Reconciliation of Capital to Stockholders’ Equity (Unaudited) ($ In Thousands)
Page 25
25 Reconciliation of Free Cash Flow to Net Cash Provided by Operations (Unaudited) ($ In Thousands)
Page 26
26 Reconciliation of Free Cash Flow to Net Cash Provided by Operations (Unaudited) ($ In Thousands)
Page 27
27 Supplemental Information
Page 28
28 Follow us on: 265 Exchange Drive Suite 301 Crystal Lake, IL 60014 +1-815-477-0424 Aptar.com Follow us on: