Avery Dennison Q1 2021 Earnings Report
Key Takeaways
Avery Dennison reported a strong start to the year with earnings growth above expectations, driven by higher volume and productivity gains across the portfolio. All three operating segments delivered strong sales growth and significant margin expansion.
Reported EPS increased by 56% to $2.50.
Adjusted EPS (non-GAAP) increased by 45% to $2.40.
Net sales increased by 19.1% to $2.05 billion.
The company raised its full-year outlook for adjusted earnings per share.
Avery Dennison
Avery Dennison
Forward Guidance
Avery Dennison raised its guidance range for 2021 reported earnings per share from $7.50 - $7.90 to $8.25 - $8.65. Excluding an estimated $0.15 per share related to restructuring charges and other items, the company’s guidance for adjusted earnings per share has been raised from a range of $7.65 to $8.05 to a range of $8.40 to $8.80.