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Avery Dennison Corp. (NYSE: AVY) is a global leader in the field of labeling and packaging materials and solutions. The company’s technologies and applications are vital components in a wide array of products across every major market and industry. Avery Dennison operates in more than 50 countries and boasts a diverse workforce of over 25,000 employees.
The company specializes in manufacturing pressure-sensitive materials, including labels and adhesive products that are used for branding and information labels across various sectors. Avery Dennison also produces merchandise tags and labels which play a crucial role in retail and logistics operations.
A notable segment of their business is the specialty converting business, which focuses on the production of radio-frequency identification (RFID) inlays and labels. These RFID solutions are integral in modern inventory management and supply chain operations, providing enhanced efficiency and tracking capabilities.
A significant portion of Avery Dennison’s revenue is generated from international markets, highlighting the company’s extensive global footprint. This international reach is supported by a combination of strategic partnerships and a commitment to continual innovation, ensuring they meet the evolving needs of their diverse client base.
Recently, Avery Dennison has been actively involved in several notable projects and initiatives. For example, the company has been expanding its capabilities in sustainable and intelligent packaging solutions, aligning with global trends towards environmentally friendly and efficient packaging options. Such initiatives not only demonstrate the company's commitment to sustainability but also position it as a forward-thinking leader in the industry.
News Highlights:
- Recent partnerships and collaborations enhancing their technological capabilities.
- Expansion of RFID technology applications in new industries.
- Financial performance updates indicating steady growth and profitability.
Avery Dennison (NYSE:AVY) announced that its Board of Directors has declared a quarterly cash dividend of $0.88 per share. The dividend will be paid on March 19, 2025, to shareholders who are recorded as owners of the stock as of March 5, 2025.
Avery Dennison (NYSE:AVY) reported strong financial results for Q4 and full year 2024. The company achieved FY24 reported EPS of $8.73 and adjusted EPS of $9.43, marking a 19% increase. Full-year net sales reached $8.8 billion, up 4.7%, with organic sales growth of 4.5%.
For Q4 2024, the company reported EPS of $2.16 and adjusted EPS of $2.38, up 10%. Quarterly net sales were $2.2 billion, increasing 3.6%. The Materials Group saw a 4% sales increase to $1.5 billion, while the Solutions Group reported a 3% rise to $714 million.
The company returned $525 million to shareholders in 2024 through dividends and share repurchases, including 1.2 million shares bought back for $248 million. Looking ahead, Avery Dennison provided FY25 guidance with reported EPS of $9.55-$9.95 and adjusted EPS of $9.80-$10.20.
Avery Dennison (NYSE: AVY), a global materials science and digital identification solutions company, has announced its upcoming fourth quarter and full year 2024 earnings conference call. The event is scheduled for Thursday, January 30, 2025, at 11:00 a.m. ET. The company will release its earnings report earlier that morning at approximately 6:45 a.m. ET. Investors can access both the live webcast and replay of the conference call through Avery Dennison's Investor Relations website.
Pearlman Group has appointed Shannon Palmer as CEO and Board member, effective December 2, 2024. Palmer brings significant experience from his previous role at Vestcom, where he served as EVP, COO & CFO for nearly twelve years. His leadership contributed to Vestcom's successful $1.45 billion acquisition by Avery Dennison (NYSE: AVY) in 2021. As Pearlman's new CEO, Palmer will focus on strengthening market position, expanding product offerings, and enhancing operational efficiencies.
Avery Dennison (NYSE: AVY) has announced its participation in two major upcoming investor events. The company will attend Baird's 2024 Global Industrial Conference on November 12th, where CEO Deon Stander will present at 2:20pm CT. Additionally, the company will participate in the UBS 2024 Global Industrials Conference on December 3rd. Investors can access live webcasts and replays of these events through the company's investor relations website.
Avery Dennison (NYSE: AVY) has priced a €500 million public offering of 3.750% Senior Notes due 2034 at 99.672% of their principal amount. The offering is expected to close on November 4, 2024. The company plans to use the proceeds to repay its existing €500 million 1.250% senior notes due March 3, 2025, and for general corporate purposes. The offering is led by multiple joint book-running managers including Merrill Lynch International, Mizuho International plc, and SMBC Bank International plc, among others.
The Avery Dennison Board of Directors has announced a quarterly cash dividend of $0.88 per share. Shareholders who are on record as of December 4, 2024, will receive the dividend payment on December 18, 2024.
Avery Dennison (NYSE:AVY) reported strong third quarter 2024 results with reported EPS of $2.25, up 32%, and adjusted EPS of $2.33, up 9%. Net sales reached $2.2 billion, up 4%, with organic sales growth of 4%. The Materials Group saw sales increase 3% to $1.5 billion, while the Solutions Group reported a 7% sales increase to $686 million. The company has raised its adjusted EPS guidance for FY24 to $9.35-$9.50, while slightly narrowing reported EPS guidance to $8.75-$8.90. Through Q3 2024, the company returned $315 million to shareholders through dividends and share repurchases, maintaining a strong balance sheet with net debt to adjusted EBITDA of 2.1x.
Avery Dennison (NYSE: AVY) has announced a collaboration with The Kroger Co. to implement RFID inventory automation technology in grocery retail. This partnership aims to enable item-level digital identification, improving inventory accuracy, maximizing freshness, reducing waste, and optimizing associates' time.
The initiative will begin in Kroger's bakery department, using RFID-embedded labels on each item. This strategic move is expected to provide significant time savings and valuable data for automating inventory management and freshness optimization. It serves as a foundational step towards enhancing customer and associate experiences across all fresh categories in the long term.
Jordan Poff, VP of retail operations at Kroger, emphasized that this collaboration will improve inventory visibility, ensuring products are available when customers want them while allowing associates to spend more time with customers. Julie Vargas, VP and GM of identification solutions at Avery Dennison, highlighted the company's commitment to connecting physical products with digital identities to improve data accuracy and efficiency in retail operations.
Avery Dennison (NYSE: AVY), a global leader in materials science and digital identification solutions, has announced the scheduling of its third quarter 2024 earnings conference call. The call will take place on Wednesday, October 23, 2024, at 11:00 a.m. ET. Prior to the call, the company will release its third quarter 2024 earnings report at approximately 6:45 a.m. ET on the same day.
Investors and interested parties can access the live webcast of the conference call through Avery Dennison's Investor Relations website. For those unable to attend the live event, a replay of the webcast will also be made available on the same platform.
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