- Net sales for Avery Dennison in Q2 reached $2.24 billion, a 6.9% increase year-over-year. The estimated net sales were $2.19 billion.
- Adjusted earnings per share (EPS) for the quarter were $2.42, up from $1.92 year-over-year. The estimated EPS was $2.28.
- Avery Dennison excluded an estimated $0.55 per share impact from restructuring charges and other items in their adjusted EPS calculations.
- The company raised its 2024 guidance for adjusted EPS from a range of $9.00 to $9.50, to a new range of $9.30 to $9.50.
- The revised guidance range for reported EPS in 2024 is now $8.75 to $8.95, up from the previous range of $8.60 to $9.10.
- Deon Stander, president and CEO, noted the strong second quarter performance with significant earnings growth driven by higher volume and productivity gains.
- Analyst ratings for Avery Dennison include 9 buys, 2 holds, and 2 sells.
A look at Avery Dennison Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 3 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
According to Smartkarma Smart Scores, Avery Dennison shows a promising long-term outlook based on its overall ratings. The company scores moderately across different factors, with a Value score of 2, Dividend and Growth scores of 3 each, Resilience score of 2, and Momentum score of 3. This indicates that Avery Dennison has decent potential for growth and stability in the future, supported by its positive momentum in the market.
Avery Dennison Corporation, known for producing pressure-sensitive materials and various labeling products, appears well-positioned for continued success. With a diverse product line that caters to labeling, decorating, and specialty applications, the company also offers non-pressure sensitive items like RFID inlays and services targeted at retailers, apparel manufacturers, and brand owners. Overall, Avery Dennison‘s Smart Scores suggest a favourable outlook for the company in the coming years.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
