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Oct 02, 2021
Avery Dennison Q3 2021 Earnings Report
Avery Dennison's financial performance demonstrated strong growth, driven by impressive sales increases across all segments, amidst ongoing global challenges.
Key Takeaways
Avery Dennison reported a strong third quarter with net sales increasing by 19.8% to $2.07 billion and adjusted EPS up 12% to $2.14. The company raised its full-year adjusted EPS guidance, reflecting confidence in continued earnings growth, and closed the acquisition of Vestcom.
Reported EPS increased by 9% to $1.96, while adjusted EPS rose by 12% to $2.14.
Net sales grew by 19.8% to $2.07 billion, with organic sales growth of 13.9%.
The acquisition of Vestcom was completed, expanding the company's position in high-value categories.
Full-year adjusted EPS guidance was raised to a range of $8.80 to $8.95.
Forward Guidance
Avery Dennison has revised its guidance range for 2021 reported earnings per share from $8.50 to $8.80 to $8.55 to $8.70. Excluding an estimated $0.25 per share related to restructuring charges and other items, the company’s guidance range for adjusted earnings per share has been raised from $8.65 to $8.95 to $8.80 to $8.95.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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