Avery Dennison Q1 Report 2024

Avery Dennison Corporation announced preliminary, unaudited results for its first quarter ended March 30, 2024. Non-GAAP financial measures referenced in this release are reconciled from GAAP in the attached financial schedules. Unless otherwise indicated, comparisons are to the same period in the prior year.

“We are off to a strong start to the year. In the first quarter we delivered significant earnings growth, driven by higher volume and productivity gains,” said Deon Stander, president and CEO.

Highlights

• 1Q24 Reported EPS of $2.13, up 43%
• 1Q24 Adjusted EPS (non-GAAP) of $2.29, up 35%
• 1Q24 Net sales of $2.2 billion, up 4%
• Sales change ex. currency (non-GAAP) up 4%
• Organic sales change (non-GAAP) up 3%
• FY24 Reported EPS guidance of $8.60 to $9.10
• Adjusted EPS guidance of $9.00 to $9.50