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Jul 01, 2023
Avery Dennison Q2 2023 Earnings Report
Avery Dennison's financial performance was negatively impacted by lower revenue, but cost reduction actions largely offset the impact.
Key Takeaways
Avery Dennison reported Q2 2023 net sales of $2.1 billion and a reported EPS of $1.24. Volumes in the Materials businesses are recovering, and the Intelligent Labels platform is gaining traction. The company anticipates sequential margin improvement.
Net sales were $2.1 billion.
Reported EPS was $1.24.
Adjusted EPS was $1.92, up 13% sequentially.
The company expects EPS for Q3 2023 to be between $1.70 and $1.90.
Avery Dennison
Avery Dennison
Forward Guidance
The company expects third quarter 2023 reported earnings per share of $1.70 to $1.90. Excluding an estimated $0.30 per share impact of restructuring charges and other items, the company expects third quarter 2023 adjusted earnings per share of $2.00 to $2.20.