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Mar 30, 2024
Avery Dennison Q1 2024 Earnings Report
Avery Dennison's first quarter performance in 2024 was marked by significant earnings growth, driven by higher volume and productivity gains.
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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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