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AptarGroup Inc. (ATR-0.55%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing an increase in net sales to $3.58 billion from $3.49 billion in the previous year. This growth was driven by favorable product mix and volume growth, particularly in the Pharma segment.
Cost of sales for the year was $2.23 billion, representing 62.2% of net sales, compared to 63.8% in the previous year. This decrease in cost ratio was due to improved operational performance and cost management initiatives.
The company reported an operating income of $496.5 million, up from $404.0 million in the previous year, with the increase attributed to strong sales growth and lower restructuring costs.
Net income for the year was $374.5 million, up from $284.5 million in the previous year. The effective tax rate was 20.3%, compared to 24.2% in the previous year.
AptarGroup reported cash provided by operating activities of $643.4 million, while cash used in investing and financing activities was $396.7 million and $225.3 million, respectively.
The company had a working capital of $1.48 billion as of December 31, 2024, and a net debt to net capital ratio of 24.4%.
The filing also details various financial agreements, including a revolving credit facility and a term loan with a syndicate of banks.
AptarGroup does not anticipate any significant changes in its dividend policy and expects to continue paying a regular quarterly dividend.
The company identified no material weaknesses in its internal controls over financial reporting.
AptarGroup continues to focus on expanding its product offerings and market presence through strategic acquisitions and investments, as highlighted by its recent equity investment in Goldrain.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the AptarGroup Inc. annual 10-K report dated February 7, 2025. To report an error, please email earnings@qz.com.