Avery Dennison Announces Second Quarter 2024 Results

“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.

“We have raised our full-year outlook for adjusted earnings per share. We continue to remain confident that the consistent execution of our strategies will enable us to meet our long-term goals for superior value creation for all our stakeholders,” added Stander.

“Once again, I want to thank our entire team for their continued resilience, focus on excellence and commitment to addressing the unique challenges at hand.”

Second Quarter 2024 Results by Segment
Materials Group
*Reported sales increased 5% to $1.5 billion. Sales were up 6% ex. currency and on an organic basis.
-Label Materials sales were up mid-to-high single-digits on an organic basis.
**Volume/mix was up low double-digits, which was partially offset by deflation-related price reductions.
-Graphics and Reflectives were up low single-digits organically.
-Performance Tapes and Medical were down low single-digits organically.
*Reported operating margin was 14.4%. Adjusted EBITDA margin (non-GAAP) was 17.9%, up 220 basis points driven by higher volume/mix and benefits from productivity, partially offset by higher employee-related costs.

Solutions Group
*Reported sales increased 12% to $689 million. Sales were up 14% ex. currency and 11% on an organic basis.
-Sales in high-value categories were up low double-digits ex. currency.
-Sales were up mid-to-high teens ex. currency in base solutions.
*Reported operating margin was 9.3%. Adjusted EBITDA margin was 16.8%, up 100 basis points, driven by higher volume and benefits from productivity, partially offset by higher employee-related costs and investments.
-Margin was up 70 basis points sequentially; the company expects margin to continue to improve in the second half of 2024.
details at: https://www.investors.averydennison.com/news-releases/news-release-details/avery-dennison-announces-second-quarter-2024-results

Related Posts

Rothschild Mill: Delivering Quality Since 1910

For more than a century, Rothschild Mill has operated on the Wisconsin River five miles south of Wausau, Wisconsin. From its humble beginnings in 1909, the mill has grown to produce Cougar® and Lynx®, some of the world’s finest printing and publishing papers. It has also given rise to a thriving community that many of its staff call home. “I never expected 28 years ago when I started in the environmental department that I would still be here. I thought I would work two to three years and then move back home to Green Bay,” says Dave Faucett, who has served as the mill’s general manager since 2017. “But the culture and pride at this mill are addicting. It’s fun to be part of the team here, and Rothschild is a great place to raise a family. It was really easy to stay here.”

Fortress Paper Provides Update on Auxiliary System Failure at its Dissolving Pulp Mill

Fortress Paper Ltd. reports that it has completed an assessment of the failure of a pressurized auxiliary gas collection system at the Fortress Specialty Cellulose Mill (the "FSC Mill") in Thurso, Québec that was reported on September 21, 2017. The Company has identified the source of the failure and is in the process of repairing and replacing the damaged components. The Company has dispatched personnel to multiple supplier and repair locations to further attempt to expedite the work to be completed. Based on best effort commitments provided by equipment and parts suppliers, management believes that production at the FSC Mill will be restarted on or prior to October 9, 2017. The Fifth Digester Project continues to advance in the normal course and the cogeneration facility continues to operate at a reduced rate. Click Read More below for additional detail.

Holmen’s interim report January-March 2018

*Operating profit for January–March was SEK 653 million (January–March 2017: SEK 627 million). Operating profit includes a forest property sale of SEK 70 million. Prices for paper and wood products increased, wheras costs for wood and other input goods rose. *Compared with the fourth quarter of 2017, profit was SEK 232 million higher, mainly as a result of income from the forest property sale and due to that fourth-quarter earnings were affected by a maintenance shutdown. *Profit after tax for January–March amounted to SEK 507 million (485), which corresponds to earnings per share of SEK 6.0 (5.8). Click Read More below for additional information.
Back To Top
×Close search
Search