Avery Dennison Q3 Report 2023

Net sales of $2.1 billion

  • Sales change ex. currency (non-GAAP) down 10%
  • Organic sales change (non-GAAP) down 11%

Reported EPS of $1.71

  • Adjusted EPS (non-GAAP) of $2.10, up 9% sequentially

“Earnings per share were in line with our expectations for the third quarter, again increasing sequentially,” said Deon Stander, president and CEO. “Volume in both Label Materials and Apparel Solutions improved sequentially, continuing to recover from slow market conditions, largely inventory destocking, while our Intelligent Labels platform continued to accelerate adoption into new categories.

“We expect further sequential improvement in the fourth quarter, as the pace of inventory destocking continues to moderate and non-apparel intelligent label programs accelerate.

“In Intelligent Labels, we expect to deliver more than twenty percent growth annually in the coming years, as adoption accelerates in logistics, food, and general retail, and apparel rebounds, further advancing our leadership position at the intersection of the physical and digital,” added Stander.

Free Trial

Step 1 of 2

Name(Required)

By pressing “Send” you agree to the Privacy Policy of this site

No Credit Card needed, after filling up the form you will receive your Free-Trial login information in 24 to 48 hours by e-mail.

ImprintPrivacy Policy

All Rights Reserved © aicorite.com