AptarGroup, Inc.

Ladies and gentlemen, thank you for standing by. Welcome to Aptar's 2025 Third Quarter Results 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 Mrs. Mary Scafidis, Senior Vice President, Investor Relations and Communications. Please go ahead.

Thank you, hello everyone, and thanks for being with us today. Our speakers for the call are Stefan Tanda, our President and CEO, and Vanessa Canu, our Executive Vice President and CFO. A press release and accompanying slide deck have been posted on our website under the Investor Relations page. During this call, we will be discussing certain non-GAAP financial measures. These measures are reconciled to the most directly comparable GAAP financial measure, and the reconciliations are set forth in the press release. Please refer to the press release disseminated yesterday for reconciliations of non-GAAP measures to the most comparable GAAP measures discussed during this earnings call. As always, we will also post a replay of this call on our website. I would now like to turn the call over to Stefan. Stefan, over to you.

Thank you, Mary, and good morning, everyone. We appreciate you joining us on the call today. I will begin my remarks by highlighting our third quarter results. Later in the call, Vanessa Canu, our CFO, will provide additional details on key drivers for the quarter. Starting on slide three, for the third quarter, we delivered adjusted earnings per share of $1.62. During the quarter, growth in our pharma segment was driven by solid demand for proprietary drug delivery systems for central nervous system therapeutics, asthma, COPD, and ophthalmic treatments. We saw moderating demand for emergency medicine dispensing systems. We also captured significant growth in injectables during the quarter from increased demand for elastomeric components for GLP-1 medications and solid growth in our active material science division. When you step back and look at our pharma segments performance for the first nine months of the year, prescription has a 7% core sales increase, injectables at 6% and growing, and active material science is up 8%. Consumer healthcare continues to be affected by the destocking and is down 11%. Additionally, royalties continue to contribute positively to our top and bottom line results. And we're continuing to invest in the ongoing growth and innovation within pharma. To that end, we have signed an agreement to acquire SomaPlus, a Brazil-based provider of oral dosing pharma packaging solutions. including droppers, dispensers and dosing cups. Aptar has been manufacturing in Brazil for 25 years and this acquisition, which is subject to regulatory approvals and anticipated to close later this year, is expected to further reinforce our footprint in the region. It also helps position us to capitalize on growth in Brazil's oral dosing, over-the-counter and nutraceutical markets, which are projected to grow at mid to high single digits through 2030 this growth is driven by an expanding population rising middle class and aging demographic in our beauty segment for the quarter we saw revenue growth in a number of regions over the previous year quarter such as asia latin america and certain end markets in north america at the same time in europe our largest region sales were flat as we continue to see softness in our higher value products such as facial skin care and in certain prestige fragrance end markets our prestige fragrance pumps did have modest volume growth in the quarter additionally we saw lower sales for our full pack solutions that service the indie market in the us due to the challenges at one of our larger customers in the first nine months beauty reported sales rose two percent while core sales held steady overall Strong 11% growth in personal care helped balance softer demand in prestige fragrance and facial skin care. Turning to the closure segment for the quarter, while product volumes were up, lower tooling sales and pass-throughs of lower resin pricing impacted core sales growth. For the first nine months, closures reported and core sales rose 1%, driven by a 5% increase in product sales, partially offset by lower tooling sales and the pass-through of lower resin pricing. Food and beverage markets saw solid growth and personal care declined. Turning to innovation, I'd like to highlight recent technology launches and key news as shown on slide four. Starting with the pharma segment, our unidose liquid system is used in the newly FDA-approved Envermist by Corsace Therapeutics, the first intranasal loop diuretic for treating edema linked to heart failure, liver, and kidney disease. This approval underscores the growing role of nasal drug delivery in systemic treatment and our commitment to patient-centric solutions. An APTA proprietary nasal system is also used in a Phase I clinical trial for a powder nasal spray managing Parkinson's off periods. Managing Parkinson's off episodes means treating periods when medication wears off and symptoms like stiffness or tremors return, often by adjusting medication timing or using fast-acting rescue treatments for on-demand relief. During the quarter, we signed an exclusive partnership with French biotech company Dianosig to develop a bioresorberable intranasal insert for long-term local drug delivery in chronic allergic rhinitis and rhinosinusitis. This collaboration also explores nose-to-brain delivery for neuropsychiatric and neurodegenerative diseases. Next, our HeroTracker sense technology has also received FDA 510K clearance as a Class 2 medical device. This Bluetooth-enabled sensor transforms traditional inhalers into smart, data-driven tools for patients and providers. Finally, we inaugurated our expanded Pharma Research and Development Center in France, which helps boost capabilities across our proprietary drug delivery business. It's one of APTR's 11 global innovation centers. Over 10% of our pharma workforce is dedicated to research and development, supported by nearly 4,700 active and pending patents. The center integrates advanced technologies, digital simulation, rapid prototyping, predictive modeling, data utilization, and artificial intelligence. It is aimed at accelerating and de-risking development of next-generation drug delivery solutions. Turning to our beauty segment, during our recent investor day, we showcased our award-winning technology for the Clarins Reloadable Total Eye Lift Serum featuring our patented airless packaging with a highly recyclable reload and double tamper seal system. In fragrance, Christian Dior is using our prestige fragrance pump for its new launch, Miss Dior Essence Parfum. Finally, our precise dropper technology used for the controlled and targeted application of liquid formulas is a dispensing solution for the Indie Brand Basic Lab in Europe. Lastly, enclosures, Marzetti's Buffalo Wild Wings Sauces in the U.S., feature our poor spout closure a more lightweight sustainable solution that delivers convenience in the beverage concentrate market our flip top non-drip solution was chosen by pepsico for their soda stream syrups moving to slide five all of this would not be possible without tremendous teams around the world we take great pride in the numerous recognitions we have earned including being named among the top 100 of the world's best companies for women by Forbes. This honor highlights our ongoing efforts to build an inclusive culture that empowers individuals to grow, connect and reach their full potential through meaningful development opportunities and inclusive initiatives. Before I turn the call over to Vanessa to share further details on the quarter, I want to highlight that we continue to focus on returning capital to shareholders through share repurchases and by increasing our dividend. To date, 2025 has been a banner year for share repurchases and we plan to lean in more. In addition, we recently announced an increase to our quarterly dividend by nearly 7% to 48 cents a share. This underscores the strength and resilience of our business model, as well as our confidence in Aptos long-term growth prospects. We are very proud of having paid an increasing annual dividend for the last 32 years. Now I would like to turn the call over to Vanessa.