Core Insights - Avery Dennison Corporation has appointed Maria Fernanda Mejia as a director, effective February 22, 2024, bringing extensive international experience in consumer goods [1][2] Company Overview - Avery Dennison Corporation (NYSE: AVY) is a global materials science and digital identification solutions company, with reported sales of $8.4 billion in 2023 [3] - The company provides a wide range of branding and information solutions aimed at optimizing labor and supply chain efficiency, reducing waste, and advancing sustainability [3] - Avery Dennison serves various industries, including home and personal care, apparel, general retail, e-commerce, logistics, food and grocery, pharmaceuticals, and automotive, employing approximately 35,000 employees in over 50 countries [3] Leadership Appointment - Maria Fernanda Mejia, the retired CEO of International for Newell Brands Inc., has been recognized for her leadership and expertise in consumer goods industries [2] - Mejia has a background that includes senior roles at Kellogg Company and Colgate-Palmolive, enhancing her qualifications for the board position [1][2]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-7685 AVERY DENNISON CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 95-1492269 (State of Incorporation ...

Core Insights - Old Dominion Freight Lines, Avery Dennison, and Lennox International are identified as stocks on the verge of correction despite solid Q4 results and healthy outlooks [2][3][5][7] - Dividend growth stocks are attractive but often come with higher valuations and lower yields, making timing important for investment [2] Group 1: Old Dominion Freight Lines - Old Dominion Freight Lines has increased its dividend by 30%, reflecting a robust outlook for distribution growth [3] - The stock has a yield of approximately 0.53% with a high price multiple of 30X earnings, and the payout is only 16% of earnings [3] - Analysts have upgraded the stock's rating to Hold, with a price target increase of 35% compared to last year, indicating potential upside [3] Group 2: Avery Dennison - Avery Dennison offers a higher yield of 1.6% and trades at a more reasonable 21X earnings, with a double-digit growth rate in distributions [5] - The company is expected to achieve an 18% gain this year and a 15% increase next year, with analysts rating it a Moderate Buy [5] - Following Q4 results, JPMorgan raised its price target to align with the consensus of $218, indicating a potential 10% increase [5] Group 3: Lennox International - Lennox International is experiencing a price correction, which may enhance its value and yield, with a payout of less than 25% of earnings [7] - The stock has shown consistent earnings growth in the low-double digits and maintains a 12% compound annual growth rate (CAGR) for distributions [7] - Analysts suggest that the stock is positioned for improvement despite current market conditions [7] Group 4: Analyst Sentiment - Analysts' activity post-Q4 results is mixed but generally bullish, with revisions including a downgrade, a boosted price target, and an initiated Buy rating [8] - The consensus assumes a 5% market upside, with the high-end price target indicating a potential 23% increase [8]

Avery Dennison Corporation (NYSE:AVY) Q4 2023 Earnings Conference Call January 31, 2024 1:00 PM ET Corporate Participants John Eble - Vice President of Finance and Investor Relations Deon Stander - President and Chief Executive Officer Greg Lovins - Senior Vice President and Chief Financial Officer Conference Call Participants Ghansham Panjabi - Robert W. Baird John McNulty - BMO Capital Markets Bryan Burgmeier - Citigroup Global Markets George Staphos - BofA Securities Mike Roxland - Truist Securities Jeff ...

Core Insights - Avery Dennison Corporation (AVY) reported adjusted earnings of $2.16 per share for Q4 2023, surpassing the Zacks Consensus Estimate of $2.15, with a year-over-year increase of 31% [1] - Total revenues for the quarter rose 4.2% year-over-year to $2.11 billion, exceeding the Zacks Consensus Estimate of $2.09 billion [1] - The company expects adjusted EPS for 2024 to be between $9.00 and $9.50 [5] Financial Performance - The company reported earnings per share (EPS) of $1.77 including one-time items, compared to $1.51 in the same quarter last year [1] - Gross profit increased by 19.2% year-over-year to $596 million, while the cost of sales decreased by 0.7% to $1.51 billion [1] - Adjusted operating profit was approximately $261 million, up from $188 million in the prior-year quarter, with an adjusted operating margin of 12.4% compared to 9.3% [1] Segment Performance - Revenues in the Materials Group segment declined 1.6% year-over-year to $1.42 billion, missing estimates, while adjusted operating profit increased 31.9% to $198 million [2] - The Solutions Group saw revenues rise 18.3% year-over-year to $692 million, significantly exceeding estimates, with adjusted operating income up 51.6% to $80.5 million [2] Shareholder Returns and Debt - The company returned $394 million to shareholders through share repurchases and dividends in 2023, repurchasing 0.8 million shares [3] - Cash and cash equivalents at the end of 2023 were $215 million, up from $167 million at the end of 2022, while long-term debt increased to $2.62 billion [3] Annual Performance - Adjusted EPS for 2023 decreased 14% year-over-year to $7.90 but exceeded estimates, while total revenues fell 7.5% to $8.36 billion, also surpassing expectations [4] Stock Performance - Shares of AVY have increased by 6.8% over the past year, compared to the industry's growth of 15% [6]

Avery Dennison (AVY) reported $2.11 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 4.2%. EPS of $2.16 for the same period compares to $1.65 a year ago.The reported revenue represents a surprise of +1.06% over the Zacks Consensus Estimate of $2.09 billion. With the consensus EPS estimate being $2.15, the EPS surprise was +0.47%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...

Company Performance - Avery Dennison reported quarterly earnings of $2.16 per share, exceeding the Zacks Consensus Estimate of $2.15 per share, and up from $1.65 per share a year ago, indicating a 30.91% year-over-year increase [1] - The company achieved revenues of $2.11 billion for the quarter ended December 2023, surpassing the Zacks Consensus Estimate by 1.06% and up from $2.03 billion in the same quarter last year, reflecting a year-over-year growth of 3.95% [1] - Over the last four quarters, Avery Dennison has surpassed consensus EPS estimates three times, demonstrating a consistent performance trend [1] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.01, with expected revenues of $2.18 billion, while the estimate for the current fiscal year is $9.15 on revenues of $8.81 billion [4] - The estimate revisions trend for Avery Dennison is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [4] Industry Context - The Office Supplies industry, to which Avery Dennison belongs, is currently ranked in the bottom 17% of over 250 Zacks industries, indicating potential challenges in overall industry performance [5] - Acco Brands, another company in the same industry, is expected to report quarterly earnings of $0.32 per share, unchanged from the previous year, with revenues projected to decline by 5.3% to $473.08 million [5]

MENTOR, Ohio--(BUSINESS WIRE)--The Board of Directors of Avery Dennison Corporation (NYSE:AVY) has declared a quarterly cash dividend of $0.81 per share. The dividend is payable on March 20, 2024 to shareholders of record on March 6, 2024. About Avery Dennison Avery Dennison Corporation (NYSE: AVY) is a global materials science and digital identification solutions company that provides a wide range of branding and information solutions that optimize labor and supply chain efficiency, reduce waste, advance ...

Avery Dennison Corporation (AVY) is scheduled to report fourth-quarter 2023 results before the opening bell on Jan 31.Q4 EstimatesThe Zacks Consensus Estimate for fourth-quarter total sales is pegged at $2.10 billion, suggesting a growth of 3.4% from the prior-year quarter’s reported figure. The consensus mark for the company’s earnings per share is pinned at $2.15, indicating a year-over-year increase of 30.3%. Earnings estimates have moved up 0.5% in the past 60 days.Q3 PerformanceAvery Dennison’s revenue ...

Avery Dennison (AVY) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on January 31, 2024, might help the stock move higher if these key numbers are better t ...