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How To Align Internal And External Messaging During Big Company Changes
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Business Wire
4 days ago
- Business Wire
Aptar Reports Second Quarter 2025 Results
CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--AptarGroup, Inc. (NYSE:ATR), a global leader in drug and consumer product dosing, dispensing and protection technologies, today reported the following second quarter results for the period ended June 30, 2025, as compared to the corresponding period of the last fiscal year. Second Quarter 2025 Highlights (compared to the prior year quarter) Reported sales increased 6% and core sales increased 3% Reported net income increased 24% to $112 million and adjusted EBITDA increased 13% from the prior year to $218 million Reported earnings per share increased 25% to $1.67 and adjusted earnings per share increased 18% to $1.66 Achieved an adjusted EBITDA margin of 22.6% an increase of 140 basis points Returned $100 million to shareholders through share repurchases and dividends Six Months Year-to-Date 2025 Highlights (compared to the prior year period) Reported and core sales grew 2% Reported net income increased 10% to $191 million and adjusted EBITDA increased 8% to $402 million Reported earnings per share increased 10% to $2.83 and adjusted earnings per share increased 8% to $2.86 Returned $210 million to shareholders through share repurchases and dividends 'Each of our segments contributed positively to our second quarter results and each expanded their adjusted EBITDA margins. Our Pharma and Closures segments drove the growth through increased volumes and sales of higher value products. We also returned $100 million to shareholders through dividends and share repurchases in the quarter, bringing the total to $210 million in the first half of the year,' said Stephan B. Tanda, Aptar President and CEO. Second Quarter Results For the quarter ended June 30, 2025, reported sales increased 6% to $966 million compared to $910 million in the prior year and core sales increased 3%. Second Quarter Segment Sales Analysis (Change Over Prior Year) Aptar Pharma Aptar Beauty Aptar Closures Total AptarGroup Reported Sales Growth 7% 4% 8% 6% Currency Effects (1) (4)% (2)% (1)% (3)% Acquisitions 0% (1)% 0% 0% Core Sales Growth 3% 1% 7% 3% (1) - Currency effects are approximated by translating last year's amounts at this year's foreign exchange rates. Expand Aptar Pharma's reported sales increased 7% and core sales increased 3% in the quarter when compared to the prior year period. The segment's positive results were driven by strong demand in Prescription, Injectables and Active Material Science divisions, while Consumer Healthcare declined. Demand continued for proprietary drug delivery systems used for emergency medicines, as well as asthma, COPD and ophthalmic treatments. Injectables core sales grew 9% due to increased demand for higher value elastomeric components, which are used in a number of end markets including biologics and GLP-1. Active Material Science core sales grew 11%, due to higher demand from active film solutions. Adjusted EBITDA margins grew 130 basis points in the quarter, with royalty revenues helping drive adjusted EBITDA margins to 35.4%. Aptar Beauty's reported sales increased 4% and core sales were up 1% compared to the prior year quarter primarily due to higher tooling sales for the personal care and beauty end markets. In the quarter, personal care products continued to show strong growth but could not offset lower demand in beauty dispensing technologies for fragrance and for full pack solutions. The pace of new fragrance launches remained subdued due to tariff-related uncertainties. In China, the beauty market continued to improve, with healthy sales in the quarter for dispensing systems, mainly due to demand from regional customers. Adjusted EBITDA margins increased by 20 basis points, to 14.1%. Aptar Closures' reported sales increased 8% from the prior year quarter and core sales increased 7%. The solid product sales growth was mainly driven by increased demand in the food and beverage end markets. The segment experienced growth in almost every region, across a number of applications including sauces, salad dressings and functional drinks. Adjusted EBITDA margins improved to 16.9%, expanding by 130 basis points. Aptar reported second quarter earnings per share of $1.67 compared to $1.34 reported a year ago. Adjusted earnings per share, excluding restructuring charges, acquisition costs, and the unrealized gains or losses on an equity investment, were $1.66 compared to the prior year period's adjusted earnings per share of $1.41, including comparable exchange rates. The second quarter effective tax rate was 20.0% compared to the prior year period's effective tax rate of 23.5%. The lower effective tax rate for the three months ended June 30, 2025 was due to an expected tax benefit as part of the company's ongoing tax planning, and greater tax benefits from share-based compensation. Actual exchange and effective tax rates for the second quarter were comparable to the guidance provided by the company. Six Months Year-To-Date Results For the six months ended June 30, 2025, reported sales increased 2% to $1.85 billion compared to $1.83 billion in the prior year. Core sales also increased 2%. Six Months Year-To-Date Segment Sales Analysis (Change Over Prior Year) Aptar Pharma Aptar Beauty Aptar Closures Total AptarGroup Total Reported Sales Growth 4% (1)% 2% 2% Currency Effects (1) (1)% 0% 1% 0% Acquisitions 0% 0% 0% 0% Core Sales Growth 3% (1)% 3% 2% (1) - Currency effects are approximated by translating last year's amounts at this year's foreign exchange rates. Expand For the six months ended June 30, 2025, Aptar's reported earnings per share were $2.83, an increase of 10%, compared to $2.57 reported a year ago. For the first six months of the year, adjusted earnings per share, excluding restructuring charges, acquisition costs, and the unrealized gains or losses on an equity investment, were $2.86 and increased 8% from prior year adjusted earnings per share of $2.64, including comparable exchange rates. The current year had an effective tax rate of 22.5% compared to the prior year effective tax rate of 22.1%. Outlook Regarding Aptar's outlook, Tanda stated, 'Looking ahead to Q3, we expect a solid quarter with continued strength in Pharma, particularly in Injectables, driven by rising demand for higher value elastomeric components fueled by growth in biologics, GLP-1 therapies, and Annex 1 compliance requirements. We anticipate challenges as naloxone sales begin to normalize after a period of rapid growth. Additionally, we expect elevated levels of cough and cold inventory in Europe to persist through the quarter. We anticipate modest Q3 contributions from our Closures and Beauty segments. Across all segments, we remain focused on cost discipline. In the face of external headwinds, our pipeline and industrialized capabilities position us well for sustained growth.' Aptar currently expects earnings per share for the third quarter of 2025, excluding any restructuring expenses, changes in the fair value of equity investments and acquisition costs, to be in the range of $1.53 to $1.61, which includes approximately 6 to 7 cents of higher legal fees associated with litigating pharma intellectual property rights. This guidance is based on an effective tax rate range of 20.5% to 22.5%, primarily due to a one-time tax benefit, with a comparable adjusted prior year effective tax rate of 23.8%. The earnings per share guidance range is based on current spot rates and a 1.15 Euro to USD exchange rate. Cash Dividends and Share Repurchases As previously announced, Aptar's Board of Directors approved a quarterly cash dividend of $0.45 per share. The payment date is August 14, 2025, to stockholders of record as of July 24, 2025. During the second quarter, Aptar repurchased 452 thousand shares for $70 million. Aptar may repurchase shares through the open market, privately negotiated transactions or other programs, subject to market conditions. Open Conference Call There will be a conference call held on Friday, August 1, 2025 at 8:00 a.m. Central Time to discuss the company's second quarter results for 2025. The call will last approximately one hour. Interested parties are invited to listen to a live webcast by visiting the Investor Relations website at Replay of the conference call can also be accessed for a limited time on the Investor Relations page of the website. About Aptar Aptar is a global leader in drug and consumer product dosing, dispensing and protection technologies. Aptar serves a number of attractive end markets including pharmaceutical, beauty, food, beverage, personal care and home care. Using market expertise, proprietary design, engineering and science to create innovative solutions for many of the world's leading brands, Aptar in turn makes a meaningful difference in the lives, looks, health and homes of millions of patients and consumers around the world. Aptar is headquartered in Crystal Lake, Illinois and has more than 13,000 dedicated employees in 20 countries. For more information, visit Presentation of Non-GAAP Information This press release refers to certain non-GAAP financial measures, including current year adjusted earnings per share and adjusted EBITDA, which exclude the impact of restructuring initiatives, acquisition-related costs, certain purchase accounting adjustments related to acquisitions and investments and net unrealized investment gains and losses related to observable market price changes on equity securities. Core sales and adjusted earnings per share also neutralize the impact of foreign currency translation effects when comparing current results to the prior year. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, restructuring initiatives, acquisition-related costs, 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. Non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures provided by other companies. Aptar's management believes these non-GAAP financial measures provide useful information to our investors because they allow for a better period over period comparison of operating results by removing the impact of items that, in management's view, do not reflect Aptar's core operating performance. These non-GAAP financial measures also provide investors with certain information used by Aptar's management when making financial and operational decisions. Free cash flow is calculated as cash provided by operating activities less capital expenditures plus proceeds from government grants related to capital expenditures. We use free cash flow to measure cash flow generated by operations that is available for dividends, share repurchases, acquisitions and debt repayment. We believe that it is meaningful to investors in evaluating our financial performance and measuring our ability to generate cash internally to fund our initiatives. These non-GAAP financial measures should not be considered in isolation or as a substitute for GAAP financial results but should be read in conjunction with the unaudited condensed consolidated statements of income and other information presented herein. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures is included in the accompanying tables. Our outlook is provided on a non-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 the company's routine activities, such as restructuring and acquisition costs. This press release contains forward-looking statements, including certain statements set forth under the 'Outlook' section of this press release. Words such as 'expects,' 'anticipates,' 'believes,' 'estimates,' 'future,' 'potential,' 'continues' and other similar expressions or future or conditional verbs such as 'will,' 'should,' 'would' and 'could' are intended to identify such 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 our beliefs as well as assumptions made by and information currently available to us. Accordingly, our actual results or other events may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: geopolitical conflicts worldwide including the invasion of Ukraine by the Russian military and the resulting indirect impact on demand from our customers selling their products into these countries, as well as rising input costs and certain supply chain disruptions; cybersecurity threats against our systems and/or service providers that could impact our networks and reporting systems; the availability of raw materials and components (particularly from sole sourced suppliers for some of our Pharma solutions) as well as the financial viability of these suppliers; our ability to protect and defend our intellectual property rights, as well as litigation involving intellectual property rights; the outcome of any legal proceeding that has been or may be instituted against us and others;lower demand and asset utilization due to an economic recession either globally or in key markets we operate within; economic conditions worldwide, including inflationary conditions and potential deflationary conditions in other regions we rely on for growth; competition, including technological advances; significant tariffs and other restrictions on foreign imports imposed by the U.S. and related countermeasures taken by impacted foreign countries; the execution of our fixed cost reduction initiatives, including our optimization initiative; our ability to successfully implement facility expansions and new facility projects; fluctuations in the cost of materials, components, transportation cost as a result of supply chain disruptions and labor shortages, and other input costs; significant fluctuations in foreign currency exchange rates or our effective tax rate; the impact of tax reform legislation, changes in tax rates and other tax-related events or transactions that could impact our effective tax rate; financial conditions of customers and suppliers; consolidations within our customer or supplier bases; changes in customer and/or consumer spending levels; loss of one or more key accounts; our ability to offset inflationary impacts with cost containment, productivity initiatives and price increases; changes in capital availability or cost, including rising interest rates; volatility of global credit markets; our ability to identify potential new acquisitions and to successfully acquire and integrate such operations, including the successful integration of the businesses we have acquired; our ability to build out acquired businesses and integrate the product/service offerings of the acquired entities into our existing product/service portfolio; direct or indirect consequences of acts of war, terrorism or social unrest; the impact of natural disasters and other weather-related occurrences; fiscal and monetary policies and other regulations; changes, difficulties or failures in complying with government regulation, including FDA or similar foreign governmental authorities; changing regulations or market conditions regarding environmental sustainability; our ability to retain key members of management and manage labor costs; work stoppages due to labor disputes; our ability to meet future cash flow estimates to support our goodwill impairment testing; the demand for existing and new products; the success of our customers' products, particularly in the pharmaceutical industry; our ability to manage worldwide customer launches of complex technical products, particularly in developing markets; difficulties in product development and uncertainties related to the timing or outcome of product development; significant product liability claims; and other risks associated with our operations. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in our Form 10-K and Form 10-Qs. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. AptarGroup, Inc. Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except Per Share Data) Consolidated Statements of Income Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net Sales $ 966,009 $ 910,063 $ 1,853,314 $ 1,825,511 Cost of Sales (exclusive of depreciation and amortization shown below) 598,994 567,440 1,149,885 1,150,196 Selling, Research & Development and Administrative 151,139 149,330 306,416 302,110 Depreciation and Amortization 69,904 64,968 135,551 129,317 Restructuring Initiatives 1,579 2,315 3,621 5,795 Operating Income 144,393 126,010 257,841 238,093 Other Income (Expense): Interest Expense (10,850 ) (10,061 ) (22,201 ) (20,236 ) Interest Income 1,880 3,102 4,694 6,000 Net Investment Gain (Loss) 2,102 (140 ) 1,006 452 Equity in Results of Affiliates 2,309 130 4,395 (91 ) Miscellaneous Income, net (120 ) (795 ) (6 ) (1,654 ) Income before Income Taxes 139,714 118,246 245,729 222,564 Provision for Income Taxes 27,982 27,788 55,334 49,173 Net Income $ 111,732 $ 90,458 $ 190,395 $ 173,391 Net (Gain) Loss Attributable to Noncontrolling Interests (12 ) (4 ) 123 167 Net Income Attributable to AptarGroup, Inc. $ 111,720 $ 90,454 $ 190,518 $ 173,558 Net Income Attributable to AptarGroup, Inc. per Common Share: Basic $ 1.69 $ 1.36 $ 2.88 $ 2.62 Diluted $ 1.67 $ 1.34 $ 2.83 $ 2.57 Average Numbers of Shares Outstanding: Basic 65,995 66,312 66,132 66,188 Diluted 67,048 67,575 67,262 67,509 Expand AptarGroup, Inc. Condensed Consolidated Financial Statements (Unaudited) (continued) ($ In Thousands) Consolidated Balance Sheets June 30, 2025 December 31, 2024 ASSETS Cash and Equivalents $ 161,728 $ 223,844 Short-term Investments 8,037 2,337 Accounts and Notes Receivable, Net 800,225 658,057 Inventories 527,421 461,807 Prepaid and Other 165,609 132,338 Total Current Assets 1,663,020 1,478,383 Property, Plant and Equipment, Net 1,584,533 1,447,150 Goodwill 996,489 936,256 Other Assets 621,339 570,489 Total Assets $ 4,865,381 $ 4,432,278 LIABILITIES AND STOCKHOLDERS' EQUITY Short-Term Obligations $ 551,523 $ 338,285 Accounts Payable, Accrued and Other Liabilities 817,361 729,996 Total Current Liabilities 1,368,884 1,068,281 Long-Term Obligations 535,054 688,066 Deferred Liabilities and Other 243,629 190,007 Total Liabilities 2,147,567 1,946,354 AptarGroup, Inc. Stockholders' Equity 2,700,122 2,471,888 Noncontrolling Interests in Subsidiaries 17,692 14,036 Total Stockholders' Equity 2,717,814 2,485,924 Total Liabilities and Stockholders' Equity $ 4,865,381 $ 4,432,278 Expand AptarGroup, Inc. Reconciliation of Adjusted EBIT and Adjusted EBITDA to Net Income (Unaudited) ($ In Thousands) Three Months Ended June 30, 2025 Consolidated Aptar Pharma Aptar Beauty Aptar Closures Corporate & Other Net Interest Net Sales $ 966,009 $ 442,589 $ 334,849 $ 188,571 $ — $ — Reported net income $ 111,732 Reported income taxes 27,982 Reported income before income taxes 139,714 122,594 24,628 17,546 (16,084 ) (8,970 ) Adjustments: Restructuring initiatives 1,579 68 626 890 (5 ) Net investment gain (2,102 ) — — — (2,102 ) Transaction costs related to acquisitions 344 — 344 — — Adjusted earnings before income taxes 139,535 122,662 25,598 18,436 (18,191 ) (8,970 ) Interest expense 10,850 10,850 Interest income (1,880 ) (1,880 ) Adjusted earnings before net interest and taxes (Adjusted EBIT) 148,505 122,662 25,598 18,436 (18,191 ) — Depreciation and amortization 69,904 34,169 21,475 13,447 813 Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA) $ 218,409 $ 156,831 $ 47,073 $ 31,883 $ (17,378 ) $ — Reported net income margins (Reported net income / Reported Net Sales) 11.6 % Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales) 22.6 % 35.4 % 14.1 % 16.9 % Expand Three Months Ended June 30, 2024 Consolidated Aptar Pharma Aptar Beauty Aptar Closures Corporate & Other Net Interest Net Sales $ 910,063 $ 414,533 $ 321,487 $ 174,043 $ — $ — Reported net income $ 90,458 Reported income taxes 27,788 Reported income before income taxes 118,246 111,814 22,773 11,971 (21,353 ) (6,959 ) Adjustments: Restructuring initiatives 2,315 65 1,199 893 158 Net investment loss 140 — — — 140 Transaction costs related to acquisitions 140 — 140 — — Adjusted earnings before income taxes 120,841 111,879 24,112 12,864 (21,055 ) (6,959 ) Interest expense 10,061 10,061 Interest income (3,102 ) (3,102 ) Adjusted earnings before net interest and taxes (Adjusted EBIT) 127,800 111,879 24,112 12,864 (21,055 ) — Depreciation and amortization 64,968 29,609 20,526 14,254 579 Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA) $ 192,768 $ 141,488 $ 44,638 $ 27,118 $ (20,476 ) $ — Reported net income margins (Reported net income / Reported Net Sales) 9.9 % Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales) 21.2 % 34.1 % 13.9 % 15.6 % Expand AptarGroup, Inc. Reconciliation of Adjusted EBIT and Adjusted EBITDA to Net Income (Unaudited) ($ In Thousands) Six Months Ended June 30, 2025 Consolidated Aptar Pharma Aptar Beauty Aptar Closures Corporate & Other Net Interest Net Sales $ 1,853,314 $ 852,056 $ 640,556 $ 360,702 $ — $ — Reported net income $ 190,395 Reported income taxes 55,334 Reported income before income taxes 245,729 233,706 41,309 29,879 (41,658 ) (17,507 ) Adjustments: Restructuring initiatives 3,621 258 1,021 2,242 100 Net investment gain (1,006 ) — — — (1,006 ) Transaction costs related to acquisitions 344 — 344 — — Adjusted earnings before income taxes 248,688 233,964 42,674 32,121 (42,564 ) (17,507 ) Interest expense 22,201 22,201 Interest income (4,694 ) (4,694 ) Adjusted earnings before net interest and taxes (Adjusted EBIT) 266,195 233,964 42,674 32,121 (42,564 ) — Depreciation and amortization 135,551 65,317 41,537 27,022 1,675 Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA) $ 401,746 $ 299,281 $ 84,211 $ 59,143 $ (40,889 ) $ — Reported net income margins (Reported net income / Reported Net Sales) 10.3 % Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales) 21.7 % 35.1 % 13.1 % 16.4 % Expand Six Months Ended June 30, 2024 Consolidated Aptar Pharma Aptar Beauty Aptar Closures Corporate & Other Net Interest Net Sales $ 1,825,511 $ 821,826 $ 648,807 $ 354,878 $ — $ — Reported net income $ 173,391 Reported income taxes 49,173 Reported income before income taxes 222,564 215,166 39,969 24,841 (43,176 ) (14,236 ) Adjustments: Restructuring initiatives 5,795 89 3,909 1,653 144 Net investment gain (452 ) — — — (452 ) Transaction costs related to acquisitions 140 — 140 — — Adjusted earnings before income taxes 228,047 215,255 44,018 26,494 (43,484 ) (14,236 ) Interest expense 20,236 20,236 Interest income (6,000 ) (6,000 ) Adjusted earnings before net interest and taxes (Adjusted EBIT) 242,283 215,255 44,018 26,494 (43,484 ) — Depreciation and amortization 129,317 58,411 41,754 27,785 1,367 — Adjusted earnings before net interest, taxes, depreciation and amortization (Adjusted EBITDA) $ 371,600 $ 273,666 $ 85,772 $ 54,279 $ (42,117 ) $ — Reported net income margins (Reported net income / Reported Net Sales) 9.5 % Adjusted EBITDA margins (Adjusted EBITDA / Reported Net Sales) 20.4 % 33.3 % 13.2 % 15.3 % Expand AptarGroup, Inc. Reconciliation of Adjusted Earnings Per Diluted Share (Unaudited) (In Thousands, Except Per Share Data) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Income before Income Taxes $ 139,714 $ 118,246 $ 245,729 $ 222,564 Adjustments: Restructuring initiatives 1,579 2,315 3,621 5,795 Net investment (gain) loss (2,102 ) 140 (1,006 ) (452 ) Transaction costs related to acquisitions 344 140 344 140 Foreign currency effects (1) 3,665 358 Adjusted Earnings before Income Taxes $ 139,535 $ 124,506 $ 248,688 $ 228,405 Provision for Income Taxes $ 27,982 $ 27,788 $ 55,334 $ 49,173 Adjustments: Restructuring initiatives 421 567 927 1,458 Net investment (gain) loss (515 ) 34 (246 ) (111 ) Transaction costs related to acquisitions 86 35 86 35 Foreign currency effects (1) 861 79 Adjusted Provision for Income Taxes $ 27,974 $ 29,285 $ 56,101 $ 50,634 Net (Gain) Loss Attributable to Noncontrolling Interests $ (12 ) $ (4 ) $ 123 $ 167 Net Income Attributable to AptarGroup, Inc. $ 111,720 $ 90,454 $ 190,518 $ 173,558 Adjustments: Restructuring initiatives 1,158 1,748 2,694 4,337 Net investment (gain) loss (1,587 ) 106 (760 ) (341 ) Transaction costs related to acquisitions 258 105 258 105 Foreign currency effects (1) 2,804 279 Adjusted Net Income Attributable to AptarGroup, Inc. $ 111,549 $ 95,217 $ 192,710 $ 177,938 Average Number of Diluted Shares Outstanding 67,048 67,575 67,262 67,509 Net Income Attributable to AptarGroup, Inc. Per Diluted Share $ 1.67 $ 1.34 $ 2.83 $ 2.57 Adjustments: Restructuring initiatives 0.02 0.03 0.04 0.06 Net investment (gain) loss (0.03 ) — (0.01 ) — Transaction costs related to acquisitions — — — — Foreign currency effects (1) 0.04 0.01 Adjusted Net Income Attributable to AptarGroup, Inc. Per Diluted Share $ 1.66 $ 1.41 $ 2.86 $ 2.64 (1) Foreign currency effects are approximations of the adjustment necessary to state the prior year earnings and earnings per share using current period foreign currency exchange rates. Expand AptarGroup, Inc. Reconciliation of Free Cash Flow to Net Cash Provided by Operations (Unaudited) (In Thousands) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net Cash Provided by Operations $ 125,958 $ 143,579 $ 208,700 $ 235,912 Capital Expenditures (63,425 ) (68,205 ) (120,287 ) (143,866 ) Proceeds from Government Grants 3,308 — 3,308 — Free Cash Flow $ 65,841 $ 75,374 $ 91,721 $ 92,046 Expand AptarGroup, Inc. Reconciliation of Adjusted Earnings Per Diluted Share (Unaudited) (In Thousands, Except Per Share Data) Three Months Ending September 30, Expected 2025 2024 Income before Income Taxes $ 131,131 Adjustments: Restructuring initiatives 3,864 Curtailment gain related to restructuring initiatives (1,851 ) Net investment gain (1,043 ) Transaction costs related to acquisitions — Foreign currency effects (1) 7,045 Adjusted Earnings before Income Taxes $ 139,146 Provision for Income Taxes $ 31,209 Adjustments: Restructuring initiatives 1,013 Curtailment gain related to restructuring initiatives (478 ) Net investment gain (255 ) Transaction costs related to acquisitions — Foreign currency effects (1) 1,677 Adjusted Provision for Income Taxes $ 33,166 Net Loss Attributable to Noncontrolling Interests $ 117 Net Income Attributable to AptarGroup, Inc. $ 100,039 Adjustments: Restructuring initiatives 2,851 Curtailment gain related to restructuring initiatives (1,373 ) Net investment gain (788 ) Transaction costs related to acquisitions — Foreign currency effects (1) 5,368 Adjusted Net Income Attributable to AptarGroup, Inc. $ 106,097 Average Number of Diluted Shares Outstanding 67,716 Net Income Attributable to AptarGroup, Inc. Per Diluted Share (3) $ 1.48 Adjustments: Restructuring initiatives 0.04 Curtailment gain related to restructuring initiatives (0.02 ) Net investment gain (0.01 ) Transaction costs related to acquisitions — Foreign currency effects (1) 0.05 Adjusted Net Income Attributable to AptarGroup, Inc. Per Diluted Share (2) $1.53 - $1.61 $ 1.54 (1) Foreign currency effects are approximations of the adjustment necessary to state the prior year earnings and earnings per share using current spot rates for all applicable foreign currency exchange rates. (2) AptarGroup's expected earnings per share range for the third quarter of 2025, excluding any restructuring expenses, acquisition costs and changes in fair value of equity investments, is based on an effective tax rate range of 20.5% to 22.5%. This tax rate range compares to our third quarter of 2024 effective tax rate of 23.8% on reported earnings and adjusted earnings per share. Expand
Forbes
4 days ago
- Forbes
The Best Twin Mattresses On Amazon That Ship Right To Your Front Door
Amazon carries mattresses from some of our most top-rated brands and good value options, whether you're looking to furnish your child's bedroom, a guest room or your own sleep space. The best twin mattresses on Amazon are supportive and durable, accommodate a variety of sleeping positions and/or have upgraded features that make them even more comfortable. And since they're sold on Amazon, they ship quickly, compressed in a box. We think the best overall choice is the Lucid 10-inch Gel Memory Foam mattress, which hugs the body's curves for optimal pressure relief and is available in multiple firmness levels. The Nectar Classic is the best twin memory foam mattress and offers a generous lifetime warranty. Illustration: Forbes / Photo: Retailer The right mattress for you or your child depends on specific body type, primary sleep posture and personal preference. Mattresses for guest rooms should be generally accommodating to suit the varied needs of guests you have coming and going. Below, we highlight a list of mattresses that cater to different needs and budgets, and review the most important factors to consider when you're shopping for a twin-size mattress. Our Top Recommendations Best Twin Mattress On Amazon Overall: Lucid 10-Inch Memory Foam Mattress Best Twin Hybrid Mattress On Amazon: Leesa Sapira Hybrid Mattress Best Twin Memory Foam Mattress On Amazon: Nectar Classic Mattress Best Medium-Firm Twin Mattress On Amazon: Casper Sleep Element Type: Memory foam | Firmness: Plush, medium or firm | Trial: 30 nights | Warranty: 10 years Best for: A variety of sleeping positions (side, back and stomach) Body types under 250 pounds Those who like to be nestled by their mattress Skip if: You weigh over 250 pounds or you want a more supportive choice Lucid is one of the most popular mattress brands on Amazon. Rather than a flashy or feature-rich design, this all-foam Lucid Mattress caters to those who simply want a comfortable mattress that they, their kids or guests can sleep on. It has a three-layer construction with gel-infused memory foam as its primary comfort material, which helps draw away body heat and molds to the shape of your curves. Choose between three firmness levels–plush, medium or firm–and different height profiles as low as 5 inches or as tall as 14 inches. We recommend a medium or firm model unless you're looking to purchase a bed for a lightweight side sleeper under 150 pounds. Type: Hybrid | Firmness: Medium | Trial: 100 nights | Warranty: 10 years Best for: Hot sleepers who want cooling options Most sleeping positions and body types Those in the market for a premium twin bed Those who want good edge support Skip if: You prefer the hugged feel of memory foam You're looking for a very soft or very firm feel When you buy a hybrid mattress , you get the benefit of supportive coils that are reminiscent of a traditional innerspring mattress with the added bonus of squishy, contouring foam. The Leesa Sapira Hybrid Mattress is from a trusted, major online mattress brand. It has upgraded features like edge support reinforcements, which keep you feeling more sturdy when you sleep near the bed's sides, and a cooling cover which can be purchased for around $100 extra on a twin-size mattress. The standard Sapira model is offered in a medium firmness which is best for back, side and combination sleepers, while the cooling model (Sapira Chill) also comes in soft or firm. Type: Memory foam | Firmness: Medium-firm | Trial: 365 nights | Warranty: Lifetime Best for: Those who want a long testing period and generous warranty Back, stomach and combination sleepers Those who want a contouring, hugging feel Skip if: You're a side sleeper You are a heavier sleeper who wants a hybrid bed Memory foam mattresses are popular for their nestling, molding feel that morphs under the shape of your body after you lie down. The Nectar Classic is the brand's flagship mattress, and has a high-end memory foam feel similar to premium competitors, but at a great value at only $350 for a twin-size mattress. 'This Nectar mattress simultaneously feels dense but cushiony—an ideal amount of sinkage that's not too much and not too little,' says a team member who tested the mattress firsthand. To keep it from sleeping too hot, the cover is woven with cooling fibers that absorb your body heat and evenly distribute it throughout the bed. Its medium-firm profile is ideal for back, stomach and combination sleepers or guests in a spare bedroom, but may be too firm for a child who sleeps on their side. See more in our full Nectar Mattress review . Type: Memory foam | Firmness: Medium-firm | Trial: 100 nights | Warranty: 10 years Best for: Back, stomach and combination sleepers Those who weigh under 250 pounds Sleepers who want a simple value pick Skip if: You want a soft mattress You prefer a supportive hybrid mattress Generally, experts consider a medium-firm mattress profile the sweet spot for a variety of sleeping positions and for those with back pain, because it lends ample support to your spine without compromising on pressure relief. The Casper Element, an Amazon exclusive mattress, is 10 inches thick stacked with two layers, including responsive memory foam that doesn't make you feel like you're sinking. According to the brand, the memory foam has an open-cell design that helps promote better airflow for hot sleepers , and it has a soft knit cover made from recycled materials. Type: Memory foam | Firmness: Medium-soft | Trial: 100 days | Warranty: 10 years Best for: People who favor their side Those who live with joint pain Children or sleepers under 250 pounds Skip if: You're a dedicated stomach or back sleeper You're a heavyweight sleeper over 250 pounds Some sleepers, like lightweight individuals and those who prefer resting on their side, need a plush and soft mattress with extra cushioning that properly gives under the weight of your hips and shoulders. The Vibe Gel Memory Foam Mattress has a cushy medium-soft profile that offers plenty of sinkage and pressure relief for your joints. It sits 12 inches high, taller than several other foam mattresses in our roundup, and features gel-infused and open-cell foam for better temperature regulation and ease of movement. Forbes Vetted's team of writers and editors have extensive knowledge on sleep and firsthand experience with the best products for better rest. Our content library consists of helpful guides, individual reviews, detailed roundups and more to help you achieve quality sleep through expert advice and product recommendations. McKenzie Dillon is a mattress and sleep editor at Forbes Vetted and tenured in the industry with over six years of testing and research experience. In addition to earning her sleep science coach certification, she has tested over 100 different beds from brands across the sleep space, including beds listed in our lineup. is a mattress and sleep editor at Forbes Vetted and tenured in the industry with over six years of testing and research experience. In addition to earning her sleep science coach certification, she has tested over 100 different beds from brands across the sleep space, including beds listed in our lineup. Bridget Chapman is a senior mattress and sleep editor at Forbes Vetted with years of industry experience and a sleep science coach certification. She oversees the sleep category and has also personally tested over 100 mattresses. is a senior mattress and sleep editor at Forbes Vetted with years of industry experience and a sleep science coach certification. She oversees the sleep category and has also personally tested over 100 mattresses. Christine Colby, Forbes Vetted commerce editor, edited this article. She has over five years of product testing and recommendations experience as well as over 15 years' experience as a journalist in New York. We regularly revisit our content to ensure our recommendations are accurate and relevant. This article was first published in July 2025. To select the best twin mattresses on Amazon, we relied on our own vast expertise as sleep editors who have tested many of these brands firsthand. We explored the mattress brands available on Amazon that our team has personal experience with and can confidently speak on their quality. We considered mattresses with foam and hybrid constructions that appeal to a variety of different sleepers and needs, in addition to firmness, edge support, feel and price. We pored through hundreds of reviews on Amazon to determine the best twin mattresses on Amazon that are vetted by verified customers, and only chose mattresses that have a 4-star rating or higher. Most modern mattresses either have an all-foam or hybrid construction and each has their own benefits. All-foam mattresses are best at isolating motion and cushioning your joints (with the exception of very firm mattresses), but they aren't as supportive for larger body types. Hybrid mattresses that are made with coils and foam tend to last longer and provide better durability, support and ease of movement. That said, they tend to be more expensive than all-foam beds. Firmness Mattresses range from soft to firm and everything in between. Medium-firm is a popular firmness level because it offers a balance of firmness and support, but it may not be suitable for those who need more pressure relief (like individuals under 250 pounds and dedicated side sleepers). Soft mattresses offer the best pressure relief for side sleepers, while firm beds tend to offer better spinal support if you sleep prone or supine. In general, the right firmness for you depends on your primary sleeping position. Sleeping Position Use your predominant sleeping position as a guide to find the most accommodating firmness profile. Side sleepers typically feel most comfortable on medium to soft mattresses that have enough give to nestle your hip and shoulder joints. Back sleepers usually require a medium to firm mattress that keeps the spine lifted and promotes proper alignment. Stomach sleepers need a medium-firm to firm mattress that doesn't let the spine sink into your mattress. Combination sleepers can opt for a medium to medium-firm mattress that walks the line between soft and firm for the benefits of both profiles. Body Type Typically, the more you weigh, the softer a mattress is going to feel. And the opposite is true—the less you weigh, the firmer a bed seems. Keep this rule in mind while you're shopping for the most appropriate firmness profile. We also think hybrid mattresses made with coils are best for sleepers over 250 pounds in the long term. However, if you plan to keep your twin bed in a guest room, an all-foam mattress does the trick. Do People Buy Mattresses On Amazon? Yes. There are hundreds of mattresses on Amazon to choose from, including top-rated brands that are popular online or in big box stores. How Much Should I Pay For A Good Twin Mattress? A good twin mattress is around $300 on the low end and up to $1,200 on the high end. Remember that price alone isn't the best indication of a mattress's suitability, so it can be helpful to read through reviews for an idea of what existing customers think. What Are The Three Top-Rated Mattresses On Amazon? The Vibe, Lucid and Nectar Mattresses are all highly rated on Amazon with thousands of positive customer reviews.
