Avery Dennison Announces Fourth Quarter and Full Year 2021 Results

Highlights:
*4Q21 Reported EPS of $2.19, down 4% driven by impact of extra week in prior year
*Adjusted EPS (non-GAAP) of $2.13, down 6%; up 23% vs. 2019
*4Q21 Net sales increased 9.7% to $2.2 billion
*Sales growth ex. currency (non-GAAP) of 18.5%
*Organic sales growth (non-GAAP) of 12.8%
*FY21 Reported EPS of $8.83, up 34%
*Adjusted EPS (non-GAAP) of $8.91, up 25%
*FY21 Net sales increased 20.6% to $8.4 billion
*Sales growth ex. currency (non-GAAP) of 18.6%
*Organic sales growth (non-GAAP) of 15.6%
*FY22 Reported EPS guidance of $9.25 to $9.65 – Adjusted EPS guidance of $9.35 to $9.75

Avery Dennison Corporation (NYSE:AVY) today announced preliminary, unaudited results for its fourth quarter and full year ended January 1, 2022. Non-GAAP financial measures referenced in this document are reconciled to GAAP in the attached financial schedules. Unless otherwise indicated, comparisons are to the same period in the prior year.

“2021 marked the company’s tenth consecutive year of strong top- and bottom-line growth,” said Mitch Butier, chairman, president and CEO. “We delivered 19 percent revenue growth on a constant currency basis and 25 percent adjusted earnings per share growth, while generating record free cash flow.

“Our strong performance comes at a challenging time as the global health crisis continues, supply chains are tight and significant inflationary pressures persist.

“2021 marked an important milestone for the company, as the final year of measurement for the five-year financial targets we communicated in early 2017,” added Butier. “ I’m pleased to report that we achieved our long-term goals for this period.”

“For 2022, we expect to again deliver strong top- and bottom-line growth and are targeting continued progress toward our 2025 goals,” said Butier.

“Once again, I want to thank our entire team for their tireless efforts to keep one another safe while delivering for all our stakeholders.”
https://www.investors.averydennison.com/news-releases/news-release-details/avery-dennison-announces-fourth-quarter-and-full-year-2021

Related Posts

Sappi Verve integrates with GreenTrack™, the pioneering traceability solution of Birla Cellulose

Sappi Dissolving Pulp has partnered with Birla Cellulose, one of the leading viscose manufacturers in the textile value chain, to provide a forest-to-garment traceability solution for brand owners. Through this collaborative partnership, Sappi Verve - the world market leader in dissolving pulp - continues to strengthen its sustainability credentials within the textile industry. Providing a brand-owner traceability solution has been made possible with the use of Birla’s pioneering ‘Green Track’ blockchain technology, coupled with Sappi’s comprehensive database on wood origin for its dissolving pulp operations in South Africa and the USA. According to Krelyne Andrew, Sustainability General Manager for Sappi Verve, Sappi is “committed to delivering practical innovations, building trust and creating shared value in our supply chain - working closely with our partners to promote and shape the sustainability of the Man-Made Cellulosic Fibre (MMCF) sector towards a net positive vision.”

Svetogorsk Mill May Curtail or Temporarily Shut Down Production

Facing inadequate supplies of critical raw materials, Sylvamo may curtail or temporarily shut down pulp and paper production at its Svetogorsk, Russia, mill later this week. The mill is currently operating while the company takes steps to mitigate the supply chain issues and continue production. The Svetogorsk mill, located at the border with Finland, employs approximately 1,700 people and produces uncoated freesheet, coated paperboard and pulp. The mill relies on raw materials and other critical supplies and services imported from Europe. The mill is also the primary water, electricity and water treatment provider for the Svetogorsk community. The company is committed to continuing to provide those critical services. The Svetogorsk mill has an annual capacity of 720,000 short tons of pulp, paper and paperboard. Russian operations accounted for roughly 15% of Sylvamo’s 2021 total revenue.

Paper Excellence Group Rebrands as Domtar

Paper Excellence Group announced the operational integration of the recently acquired Domtar Corporation and Resolute Forest Products with the legacy Paper Excellence business, forming a leading, unified forest products company in North America. This integration represents a strategic alignment of the companies’ strengths, resources and expertise, creating a stronger organization poised for future growth and innovation, while maintaining the highest levels of environmental stewardship. Together, the companies will now be doing business as Domtar. Domtar’s new brand identity symbolizes the combined legacy, shared values and forward-looking vision of the three organizations. The new logo reflects the spirit of collaboration, sustainability and commitment to excellence that will define Domtar’s future. The inclusion of a seedling in the logo represents the company’s commitment to nurturing potential and fostering growth, symbolizing the start of something new and the continuous journey toward flourishing success. It also signifies an important evolution, capturing the essence of the gradual development of our legacy companies and the natural progression from a small, humble beginning to a thriving, mature global organization.
Back To Top
×Close search
Search