Avery Dennison said GAAP diluted EPS for Q1 2024 (ended March 30, 2024) was $2.13, up 43% from $1.49 a year earlier, and adjusted EPS (non-GAAP) was $2.29, up 35%. Net sales were $2,151.3 million, up 4.2%.

1. 01

   Avery Dennison said GAAP diluted EPS for Q1 2024 (ended March 30, 2024) was $2.13, up 43% from $1.49 a year earlier, and adjusted EPS (non-GAAP) was $2.29, up 35%. Net sales were $2,151.3 million, up 4.2%.

2. 02

   The company said Materials Group reported sales for Q1 rose 2% to $1.5 billion, and its adjusted EBITDA margin (non-GAAP) was 18.3%, up 410 basis points. It said Solutions Group reported sales rose 8% to $655 million, and its adjusted EBITDA margin was 16.1%, up 40 basis points.

3. 03

   The company said operating cash flow for Q1 2024 (the 3 months ended March 30, 2024) was $119.8 million, compared with $1.9 million a year earlier. Adjusted free cash flow (non-GAAP) was $58.1 million, compared with $(71.2) million a year earlier.

4. 04

   The company said it revised its GAAP reported EPS guidance for fiscal 2024 to $8.60 to $9.10 from its prior range of $8.65 to $9.15. Excluding an estimated $0.40 per share impact from restructuring charges and other items, it continues to expect adjusted EPS of $9.00 to $9.50.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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