Avery Dennison reports 19 percent earnings growth in FY2024

Adhesive manufacturing company Avery Dennison’s fiscal year 2024 adjusted earnings per share were 9.43 dollars, up 19 percent from the previous year.

The company's net sales increased by 4.7 percent to reach 8.8 billion dollars.

In the fourth quarter, the adjusted EPS of 2.38 dollars increased 10 percent, while net sales of 2.2 billion dollars, were up 3.6 percent.

These results exceeded analyst expectations of a quarterly EPS of 2.31 dollars and revenue of 2,189.73 million dollars and annual estimates of 8.85 dollars EPS and 8,761.84 million dollars in revenue.

The company’s forecast for FY25 EPS in the range of 9.80 dollars to 10.20 dollars is also above the analyst consensus of 9.44 dollars.

Commenting on the results and outlook, the company’s President and CEO Deon Stander said: "We delivered strong results in 2024, achieving 19 percent earnings growth. We remain well-positioned to continue our long track record of strong earnings growth in 2025, including accelerating growth in our high-value categories, which now account for almost half of our portfolio."

The company’s Materials Group reported a 4 percent increase to 1.5 billion dollars and Solution Group sales increased 3 percent to 714 million dollars.