Avery Dennison Half-Year Report 2024

Avery Dennison Corporation announced preliminary, unaudited results for its second quarter ended June 29, 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 delivered a strong second quarter, with significant earnings growth, driven by higher volume and productivity gains,” said Deon Stander, president and CEO. “Both our Materials and Solutions Groups delivered strong top- and bottom-line growth. 

 

“In Intelligent Labels, we are targeting to deliver another year of significant growth, as apparel volumes normalize and new categories adopt our solutions that help address key industry challenges.

Highlights

• 2Q24 Reported EPS of $2.18, up 76%
• 2Q24 Adjusted EPS (non-GAAP) of $2.42, up 26%
• 2Q24 Net sales of $2.2 billion, up 7%
• Sales change ex. currency (non-GAAP) up 8%
• Organic sales change (non-GAAP) up 7%
• FY24 EPS guidance
• Revising Reported EPS guidance of $8.75 to $8.95 (previously $8.60 to $9.10)
• Raising Adjusted EPS guidance of $9.30 to $9.50 (previously $9.00 to $9.50)