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Dec 30, 2023
Avery Dennison Q4 2023 Earnings Report
Avery Dennison's financial performance improved in Q4 2023, with EPS and sales exceeding expectations, driven by growth in the Solutions Group and recovery in Label Materials.
Key Takeaways
Avery Dennison reported a 4% increase in net sales to $2.1 billion in Q4 2023. Reported EPS was $1.77, and adjusted EPS (non-GAAP) increased by 31% to $2.16. The Materials Group experienced a sales decrease, while the Solutions Group saw significant growth. The company expects strong earnings growth in 2024.
Q4 2023 reported EPS was $1.77.
Q4 2023 adjusted EPS (non-GAAP) increased 31% to $2.16.
Q4 2023 net sales increased 4% to $2.1 billion.
The company is targeting significant growth in Intelligent Labels in 2024.
Avery Dennison
Avery Dennison
Forward Guidance
The company expects 2024 reported earnings per share of $8.65 to $9.15. Excluding an estimated $0.35 per share impact of restructuring charges and other items, the company expects 2024 adjusted earnings per share of $9.00 to $9.50.