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Avery Dennison Corp - Stock Quote AVY

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Morningstar's Avery Dennison Corp Stock Analysis

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Avery Dennison Reports Strong Revenue Growth Despite Lower Volume; Inflation Weighs on Margins

Analyst Note

| Brian Bernard, CFA, CPA |

Avery Dennison reported solid financial performance in the first quarter on strong end market demand and increased selling prices. Organic sales increased roughly 13% year over year and were up almost 8% sequentially. Adjusted operating margins decreased 170 basis points to 12%, driven by raw material inflation and rising operating costs. While we see incremental improvements through the year, we think additional pricing action will be necessary across most of its business.

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Avery Dennison Corp's Company Profile

Business Description

Avery Dennison manufactures pressure-sensitive materials, merchandise tags, and labels. The company also runs a specialty converting business that produces radio-frequency identification inlays and labels. Avery Dennison draws a significant amount of revenue from outside the United States, with international operations accounting for the majority of total sales.

207 Goode Avenue
Glendale, CA, 91203
T +1 626 304-2000
Sector Industrials
Industry Business Equipment & Supplies
Most Recent Earnings Mar 31, 2022
Fiscal Year End Jan 1, 2023
Stock Type Cyclical
Employees 36,000