AptarGroup, Inc. (NYSE:ATR) Q1 2017 Earnings Conference Call - Final Transcript

Apr 28, 2017 • 09:00 am ET

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AptarGroup, Inc. (NYSE:ATR) Q1 2017 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by. Welcome to AptarGroup's 2017 First Quarter Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session.

Introducing today's conference call is Mr. Matt DellaMaria, Vice President, Investor Relations. Please go ahead, sir.

Executive
Matt DellaMaria

Thank you, and welcome, everyone. Participating on the call today are Stephan Tanda, President and Chief Executive Officer; and Bob Kuhn, Executive Vice President, Chief Financial Officer and Secretary. Stephan will begin our call with a brief overview of our quarterly performance; Bob will then discuss a few financial details; then we'll open it up for questions.

Information that will be discussed on today's call includes some forward-looking comments. Actual results or outcomes could differ from those projected or contained in the forward-looking statements. Please refer to Aptar's SEC filings to review factors that could cause actual results to differ materially from those projected or contained in the forward-looking statements. We will post a replay of this conference call on our website. Aptar undertakes no obligation to update the forward-looking information contained therein.

I would now like to turn the conference call over to Stephan.

Executive
Stephan B. Tanda

Thank you, Matt, and good morning, everyone. Over the past 90 days, I've had the privilege to engage with many of you, our stakeholders, customers, investors and employees at our facilities around the world, to better understand how we can further build on Aptar's pillars of strength. We really have great people, excellent technologies and the industry's broadest portfolio of dispensing and sealing solutions. We are seen by many of our customers as a trusted partner to help them grow their business. Our overall business strategy is sound, even though there is work to be done to assure we're protect and grow our existing market positions and that we aggressively seek out and win new business.

One of our top priorities is to evaluate and realign our sales and marketing efforts to ensure we become even more customer-focused and driven to earn their business at every turn. For example, in our Beauty & Home segment, where we have struggled to grow sales in recent quarters, we are making several leadership changes. In North America, we are replacing the regional commercial leadership. In addition, in Europe, we recently hired a new Vice President of Sales and we are strengthening our talent base in Asia. We are also reinforcing our key account management by adding new talents and we are refreshing our sales process to improve the targeting and execution of our new business development within each business segment.

I will briefly comment on our results before I turn it over to Bob for some additional details. We grew the top line 3% on the core basis, driven by excellent growth in our Pharma segment and modest growth in our Beauty & Home segment and the comparable earnings per share increased 9%. Looking at our segment results. Beauty & Home's core growth during the quarter was partly due to