Avery Dennison Q1 2024 Earnings Report
Key Takeaways
Avery Dennison reported a strong start to 2024 with significant earnings growth in the first quarter. Net sales increased by 4% to $2.2 billion, with reported EPS up 43% to $2.13 and adjusted EPS up 35% to $2.29. The Materials Group saw volume growth and margin expansion, while the Solutions Group delivered strong top-line growth, driven by high-value categories.
Reported EPS increased by 43% to $2.13.
Adjusted EPS (non-GAAP) increased by 35% to $2.29.
Net sales increased by 4% to $2.2 billion.
Materials Group experienced volume growth and margin expansion due to downstream inventory destocking.
Solutions Group achieved strong top-line growth, driven by high-value categories.
Avery Dennison
Avery Dennison
Forward Guidance
Avery Dennison revised its guidance range for 2024 reported earnings per share from $8.65 to $9.15 to $8.60 to $9.10. The company continues to expect 2024 adjusted earnings per share of $9.00 to $9.50.