Avery Dennison Q1 adjusted EPS $1.70 (-29% YoY); sales down 12%; FY guidance cut

Avery Dennison Corp

2023-Q1 EPS reported $1.49 revenue$2,065,000,000

Q1 reported EPS $1.49; adjusted EPS $1.70, down 29% year-over-year.
Q1 net sales $2.1B, down 12% YoY; organic sales declined 9%.
FY 2023 adjusted EPS guidance lowered to $8.85-$9.20 from $9.15-$9.55.
Sales change ex. currency (non-GAAP) also (9%), consistent with organic trend.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Avery Dennison Corp reported first quarter of 2023 results: revenue $2.1 billion, EPS $1.49. Guidance reaffirmed.

Period: first quarter of 2023
Revenue: $2.1 billion
EPS: $1.49
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

AVERY DENNISON ANNOUNCES FIRST QUARTER 2023 RESULTS Highlights: ● 1Q23 Reported EPS of $1.49 ¡ Adjusted EPS (non-GAAP) of $1.70, down 29% ● 1Q23 Net sales declined 12% to $2.1 billion ¡ Sales change ex. currency (non-GAAP) of (9%) ¡ Organic sales change (non-GAAP) of (9%) ● Revised FY 2023 EPS guidance ¡ Reported EPS of $8.35 to $8.70 (previously $8.85 to $9.25) ¡ Adjusted EPS of $8.85 to $9.20 (previously $9.15 to $9.55)

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Source: SEC EDGAR

accession 0001193125-23-116625

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