Avery Dennison Announces First Quarter 2022 Results
First Quarter 2022 Results by Segment: Label and Graphic Materials - Reported sales increased 8% to $1.5 billion. Sales were up 12% ex. currency and 12% on an organic basis Reported operating margin decreased 240 basis points to 14.0%. Retail Branding and Information Solutions - Reported sales increased 41% to $679 million. Sales were up 43% ex. currency and 20% on an organic basis, reflecting strong growth in both the high value product categories and the base business. Reported operating margin increased 90 basis points to 13.3%. Industrial and Healthcare Materials - Reported sales decreased 1% to $190 million. Sales were up 1% ex. currency and 1% on an organic basis, reflecting a low-single digit decrease in industrial categories and a low-double digits increase in healthcare categories. Reported operating margin decreased 410 basis points to 8.2%.