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Oct 01, 2022
Avery Dennison Q3 2022 Earnings Report
Avery Dennison's Q3 2022 results reflected strong financial performance amidst a dynamic environment, with significant top-and bottom-line growth in LGM and RBIS, and progress in Intelligent Label solutions adoption.
Key Takeaways
Avery Dennison reported an 11.8% increase in net sales to $2.3 billion, a reported EPS of $2.70, up 38%, and an adjusted EPS of $2.46, up 15% for Q3 2022.
Reported EPS increased by 38% to $2.70.
Adjusted EPS (non-GAAP) increased by 15% to $2.46.
Net sales increased by 11.8% to $2.3 billion.
Organic sales growth (non-GAAP) was 15.5%.
Avery Dennison
Avery Dennison
Forward Guidance
The company has narrowed its guidance range for 2022 reported earnings per share from $9.60 to $9.90 to $9.65 to $9.80. Excluding an estimated $0.05 per share related to restructuring charges and other items, the company narrowed its guidance range for adjusted earnings per share from $9.70 to $10.00 to $9.70 to $9.85, including an incremental $0.10 currency translation headwind.