AptarGroup, Inc. (NYSE:ATR) Q1 2018 Earnings Conference Call - Preliminary Transcript
Apr 27, 2018 • 09:00 am ET
Ladies and gentlemen, thank you for standing by. Welcome to AptarGroup's 2018 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, Senior Vice President, Investor Relations. Please go ahead, sir.
Thank you, Kevin, 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 performance. Bob will then discuss a few of the financial details and then turn it back over to Stephan before we 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 and we undertake no obligation to update the forward-looking information contained therein.
I would now like to turn the conference call over to Stephan.
Thanks Matt, and good morning, everyone. And thanks for joining us today. I'll start with some general comments about the quarter and will then move to Slide 4 of the accompanied presentation to provide an update on our business transformation. Then I'll turn it over to Bob.
As you saw yesterday, we reported a positive start to the year with a strong first quarter. Sales growth was robust both on a reported basis and a core basis after neutralizing for currency effect. We also had corresponding strong bottom line growth. Each business segment achieved core growth at or above our long-term growth target. Our Beauty and Home segment achieved core sales growth of 8% in the first quarter, thanks to increased demand for our innovative dispensing solutions, especially in our two large markets, beauty and personal care. Demand was broad based across our different end markets and geographic regions. We are seeing increased demand in both large and small accounts, so the general underlying trend is positive.
Let me give you some examples. In the quarter, we have (ph) Walgreen Booth launch a new global facial skincare booth serum with a successful brand number seven that features our airless serum dropper. (ph) Eliyaz brand selected a different airless solution with an integrated lockable, on -off system for its global launch of a new skincare line called H protect. In the North American healthcare market our spray accessories involve a feature on a new Clorox, on the new Clorox Scentiva bathroom foam cleaner and a do election spray trigger accessory were selected for new insect control product called Zevo by P&G.
We are early in the implementation stages of our transformation, the growth we are seeing in the quarter is the clearly result of market driven