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 ...

MENTOR, Ohio--(BUSINESS WIRE)--Avery Dennison Corporation (NYSE: AVY) will host its fourth quarter and full year 2023 earnings conference call in a live webcast at 1:00 p.m. ET on Wednesday, January 31, 2024. The company’s fourth quarter and full year 2023 news release will be issued that morning at 6:45 a.m. ET. This event will be webcast live, and a replay will be available on Avery Dennison's Investor Relations website (www.investors.averydennison.com). About Avery Dennison Avery Dennison Corporation ...

The company will demonstrate what the biggest names in retail have already realized — that Wiliot's ambient IoT technology illuminates once-dark parts of the supply chain, offering real-time, end-to-end visibility of products from warehouse to store to home. NEW YORK, Jan. 11, 2024 /PRNewswire/ -- Wiliot, the Internet of Things pioneer whose IoT platform is enabling trillions of "things" to gain intelligence, is bringing its industry-changing visibility technology to NRF 2024. Attendees can see first-hand t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 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 a ...

Avery Dennison Corporation (NYSE:AVY) Q3 2023 Earnings Conference Call October 25, 2023 1:00 PM ET Company Participants John Eble - VP of Finance and IR Deon Stander - President and CEO Greg Lovins - SVP and CFO Conference Call Participants George Staphos - Bank of America John McNulty - BMO Capital Markets Ghansham Panjabi - Robert W. Baird & Co. Jeffrey Zekauskas - JPMorgan Joshua Spector - UBS Anthony Pettinari - Citigroup Michael Roxland - Truist Securities Christopher Kapsch - Loop Capital Markets ...

Avery Dennison Corporation (NYSE:AVY) Q2 2023 Earnings Conference Call July 25, 2023 1:00 PM ET Company Participants John Eble - VP of Finance and IR Mitch Butier - Chairman and CEO Deon Stander - President and COO Greg Lovins - SVP and CFO Conference Call Participants John McNulty - BMO Capital Markets Ghansham Panjabi - Baird Anthony Pettinari - Citigroup Josh Spector - UBS Mike Roxland - Truist Securities Jeff Zekauskas - JPMorgan Securities George Staphos - Bank of America Christopher Kapsch - Loop Capi ...

Avery Dennison Corporation (NYSE:AVY) Q1 2023 Results Conference Call April 26, 2023 1:00 PM ET Company Participants John Eble - Head, IR Mitch Butier - Chairman and CEO Deon Stander - President and COO Greg Lovins - SVP and CFO Conference Call Participants Ghansham Panjabi - Baird John McNulty - BMO Capital Markets George Staphos - Bank of America Anthony Pettinari - Citigroup Jeff Zekauskas - JPMorgan Securities Josh Spector - UBS Securities, LLC Mike Roxland - Truist Securities Christopher Kapsch - Loop ...

Sales and Operations - Materials Group and Solutions Group accounted for 72% and 28% of total net sales in 2022, respectively[10] - International operations represented approximately 72% of net sales in 2022[10] - The company operates nearly 200 manufacturing and distribution facilities in over 50 countries as of December 31, 2022[10] - Net sales for 2022 were $9,039.3 million, up from $8,408.3 million in 2021 and $6,971.5 million in 2020[172] - The company changed its operating structure in Q4 2022 to align with its overall business strategy, resulting in new reportable segments[185] - The company has two reportable segments: Materials Group and Solutions Group[332] Acquisitions and Investments - In 2022, the company acquired TexTrace and Rietveld for an aggregate purchase consideration of approximately $35 million[16] - The company made two venture investments in 2022 to advance technological solutions[16] - 2022 Acquisitions (TexTrace and Rietveld) totaled approximately $35 million, with potential earn-out payments of up to $30 million based on post-acquisition performance targets[213] - Company completed the acquisition of Thermopatch, Inc. in January 2023, expected to expand the Solutions Group product portfolio, with completion anticipated in Q1 2023[212] - Vestcom acquisition completed on August 31, 2021, for $1.47 billion, funded by cash, commercial paper borrowings, and senior notes, expanding Solutions Group capabilities[215] - Vestcom acquisition included $756.1 million in goodwill and $727.0 million in other intangibles, with net assets acquired totaling $1,465.1 million[216] - Other 2021 Acquisitions (ZippyYum and JDC) totaled approximately $43 million, with potential earn-out payments of up to $13 million[218] - Goodwill as of December 31, 2022, was $1,862.4 million, with $1,243.7 million attributed to the Solutions Group[220] - Vestcom acquisition included $135 million in indefinite-lived intangible assets (trade names and trademarks) and $592 million in finite-lived intangible assets (customer relationships and technology)[221][223] - Finite-lived intangible assets amortization expense for 2022 was $81.8 million, with estimated future amortization expenses of $80.9 million for 2023[226][227] - The company's venture investments had a total carrying value of $70 million as of December 31, 2022, with net gains of $13.5 million recognized in 2022[287] Workforce and Employee Data - Approximately 83% of employees were located outside the U.S. at year-end 2022[18] - Approximately 67% of employees were located in emerging markets at year-end 2022[18] - Over 20,000 employees, representing 57% of the global workforce, were in Asia Pacific at year-end 2022[18] - Approximately 66% of the global workforce worked in manufacturing facilities or supporting roles at year-end 2022[18] - Workforce by region: Asia Pacific accounts for 57%, North America 20%, Europe 18%, and Latin America 5%[19] - Workforce by function: Operations make up 66% of the workforce, while Non-Operations account for 34%[19] - Representation of women in manager and above roles increased from 35% in 2021 to 36% in 2022[21] - Membership within Employee Resource Groups (ERGs) increased by 32% in 2022 compared to 2021[21] - 98% of employees were paid above the applicable legal minimum wage at year-end 2022[22] - Global Recordable Incident Rate in 2022 was 0.23, significantly lower than the industry average of 3.3[23] - Employer contributions and employer match to the U.S. Employee Savings Plan were $27.3 million in 2022, up from $24.6 million in 2021 and $22.7 million in 2020[270] - The company recorded $7.3 million in restructuring charges in 2022, related to the reduction of approximately 830 positions[315] - The total restructuring charges by reportable segment and Corporate in 2022 were $7.7 million, with $7.9 million in the Solutions Group and $0.8 million in Corporate[318] Financial Performance - Net income for 2022 was $757.1 million, compared to $740.1 million in 2021 and $555.9 million in 2020[172] - Net income per common share for 2022 was $9.28, up from $8.93 in 2021 and $6.67 in 2020[172] - Total comprehensive income for 2022 was $676.0 million, down from $806.8 million in 2021 and $554.4 million in 2020[174] - Foreign currency translation loss for 2022 was $96.6 million, compared to a gain of $30.7 million in 2021 and a loss of $3.0 million in 2020[174] - Pension and other postretirement benefits net gain recognized for 2022 was $6.3 million, down from $27.9 million in 2021 and $6.2 million in 2020[174] - Dividends paid in 2022 were $238.9 million, up from $220.6 million in 2021 and $196.8 million in 2020[180] - Share repurchases in 2022 totaled $379.5 million, compared to $180.9 million in 2021 and $104.3 million in 2020[180] - Net cash provided by operating activities in 2022 was $961.0 million, down from $1,046.8 million in 2021 and $751.3 million in 2020[179] - Net cash used in investing activities in 2022 was $332.7 million, compared to $1,737.9 million in 2021 and $554.2 million in 2020[178] - Total shareholders' equity as of December 31, 2022 was $2,032.2 million, up from $1,924.4 million in 2021 and $1,484.9 million in 2020[176] - Retained earnings as of December 31, 2022 were $4,414.6 million, compared to $3,880.7 million in 2021 and $3,349.3 million in 2020[176] - Accumulated other comprehensive loss as of December 31, 2022 was $364.0 million, compared to $282.9 million in 2021 and $349.6 million in 2020[176] - Treasury stock as of December 31, 2022 was $3,021.8 million, compared to $2,659.8 million in 2021 and $2,501.0 million in 2020[176] - Net income for 2022 was $757.1 million, with net income per common share at $9.28 and diluted net income per share at $9.21[289] - The company repurchased 2.2 million shares of common stock in 2022 at an aggregate cost of $379.5 million[291] - Accumulated other comprehensive loss as of December 31, 2022 was $364.0 million, primarily driven by foreign currency translation losses of $314.0 million[294] - The company's Board authorized a share repurchase program of up to $750 million in April 2022, with $730 million remaining authorized as of December 31, 2022[291] Research and Development - The company focuses on research projects related to RFID, external embellishments, data and digital solutions, and printing technologies[15] - Research and development costs are expensed as incurred, with no capitalization of long-term incentive compensation in 2022, 2021, or 2020[206] Environmental and Sustainability - The company uses water-based emulsion and hot-melt adhesive technologies to minimize solvent emissions[26] - Environmental liabilities increased from $21.9 million at the beginning of 2022 to $24.3 million at year-end 2022, with $9 million classified as short-term[282] Taxes and Deferred Tax Assets - Income tax provision for the year ended December 31, 2022 was $242.2 million, with total deferred tax assets of $115.1 million and unrecognized tax benefits of $69.5 million[167] - The provision for income taxes in 2022 was $242.2 million, with $215.9 million in current taxes and $26.3 million in deferred taxes[319] - The company's income before taxes from U.S. operations was $232.4 million in 2022, compared to $88.0 million in 2021 and $123.8 million in 2020[322] - International income before taxes was $766.9 million in 2022, down from $904.6 million in 2021 and $613.5 million in 2020[322] - The effective tax rate was 24.2% in 2022, 25.0% in 2021, and 24.1% in 2020[322] - Net operating loss carryforwards of foreign subsidiaries decreased from $508 million in 2021 to $463 million in 2022[325] - Tax credit carryforwards decreased from $35 million in 2021 to $10 million in 2022[325] - Total deferred tax assets decreased from $312.1 million in 2021 to $275.4 million in 2022[326] - Total deferred tax liabilities decreased from $356.0 million in 2021 to $345.6 million in 2022[326] - Unrecognized tax benefits decreased from $74 million in 2021 to $70 million in 2022[330] - The company may realize a decrease in uncertain tax positions of approximately $6 million in the next 12 months[331] Debt and Financial Instruments - Foreign exchange Value-At-Risk (VAR) model estimated no significant one-day loss in earnings for 2022 and 2021[156] - A 12 basis point increase in interest rates in 2022 would not have had a significant impact on interest expense[157] - Outstanding U.S. commercial paper borrowings as of December 31, 2022, were $128 million with a weighted average interest rate of 4.84%[229] - Revolver maturity extended to February 13, 2026, with commitments increased by $400 million to $1.2 billion, replacing LIBOR with Term SOFR, Euribor, and SONIA benchmark rates[230] - Company issued $500 million senior notes in August 2021 with a 2.250% interest rate, due February 15, 2032, and net proceeds of $493.7 million[231] - Company issued $300 million senior notes in August 2021 with a 0.850% interest rate, due August 15, 2024, and net proceeds of $298 million[231] - Total long-term debt at year-end 2022 was $2,495.4 million, compared to $2,774.2 million in 2021[233] - Expected long-term debt maturities for 2023, 2024, and 2025 are $250.0 million, $300.0 million, and $562.6 million, respectively[234] - Total interest costs in 2022 were $89.8 million, with $5.7 million capitalized as part of property, plant, and equipment costs[235] - Fair value of total debt was $2.85 billion at December 31, 2022, compared to $3.25 billion at January 1, 2022[235] - Aggregate notional value of outstanding foreign exchange contracts as of December 31, 2022, was $1.36 billion[237] - Fair value of cross-currency swap contracts was $15.5 million as of December 31, 2022[239] - Net gains recognized in income related to foreign exchange contracts were $1.3 million in 2022[242] Pension and Postretirement Benefits - Total international plan assets at fair value were $585.3 million in 2022, down from $874.6 million in 2021[249] - The projected benefit obligations for U.S. pension plans decreased from $66.8 million in 2021 to $51.8 million in 2022, while international pension obligations decreased from $882.4 million to $586.9 million[257] - Plan assets for international pension plans decreased from $874.6 million in 2021 to $585.3 million in 2022, with an actual return on plan assets of -$226.5 million[258] - The funded status of U.S. pension plans showed a deficit of $51.8 million in 2022, compared to $66.8 million in 2021, while international plans had a deficit of $1.6 million in 2022, down from $7.8 million in 2021[259] - The discount rate for U.S. pension plans increased from 2.49% in 2021 to 5.06% in 2022, while international plans saw an increase from 1.57% to 4.36%[259] - The net periodic benefit cost for U.S. pension plans was -$1.4 million in 2022, compared to $1.8 million in 2021, while international plans saw a decrease from $14.3 million to $7.4 million[263] - The expected return on assets for international pension plans increased from 2.61% in 2021 to 3.00% in 2022[264] - The actuarial loss recognized in accumulated other comprehensive loss for U.S. pension plans was $9.1 million in 2022, down from $15.6 million in 2021, while international plans saw a decrease from $41.5 million to $38.2 million[260] - The net amount recognized in other comprehensive loss for U.S. pension plans was -$6.5 million in 2022, compared to -$2.6 million in 2021, while international plans saw a decrease from -$41.9 million to -$2.8 million[261] - The service cost for international pension plans decreased from $19.0 million in 2021 to $16.5 million in 2022[263] - The interest cost for international pension plans increased from $8.9 million in 2021 to $10.8 million in 2022[263] - U.S. pension benefits are projected to decrease from $6.3 million in 2023 to $5.3 million in 2027, while international pension benefits are expected to increase from $22.2 million in 2023 to $27.0 million in 2027[268] - The company's postretirement health benefits obligation was approximately $2 million at year-end 2022, with a related loss of $11 million recorded in "Accumulated other comprehensive loss"[269] - The company's obligations under deferred compensation plans were $87.3 million at year-end 2022, down from $96.1 million in 2021[271] Leases and Contingent Liabilities - Operating lease costs were $70.8 million in 2022, up from $68.8 million in 2021 and $63.1 million in 2020[273] - Total leased assets were $189.2 million at year-end 2022, down from $211.9 million in 2021[273] - The weighted average remaining lease term for operating leases was 5.9 years as of December 31, 2022, with a weighted average discount rate of 3.2%[275] - Total lease payments for operating leases are projected to be $174.1 million from 2023 to 2028 and thereafter, with a present value of $156.0 million[278] - The company recorded a contingent liability of $26.6 million related to the ADASA Inc. patent infringement litigation, with a potential outcome range of $5 million to $71 million[279] Stock-Based Compensation - Stock-based compensation expense is based on the fair value of awards, adjusted for estimated forfeitures, and amortized over the requisite service period[208] - Stock-based compensation expense for 2022 was $47.4 million, with a related tax benefit of $6.7 million[299] - Unrecognized compensation expense related to unvested stock-based awards as of December 31, 2022 was approximately $61 million, expected to be recognized over approximately two years[299] - The weighted average grant date fair value for Performance Units (PUs) was $163.97 in 2022, $191.86 in 2021, and $115.07 in 2020[302] - The number of unvested PUs at December 31, 2022, was 372.7 thousand, with a weighted average grant-date fair value of $147.45[305] - The weighted average grant date fair value for Market-Leveraged Stock Units (MSUs) was $141.80 in 2022, $216.06 in 2021, and $94.55 in 2020[306] - The number of unvested MSUs at December 31, 2022, was 208.5 thousand, with a weighted average grant-date fair value of $145.86[307] - The weighted average grant date fair value for Restricted Stock Units (RSUs) was $168.34 in 2022, $196.26 in 2021, and $111.71 in 2020[308] - The number of unvested RSUs at December 31, 2022, was 59.8 thousand, with a weighted average grant-date fair value of $159.23[311] - The compensation expense related to Long-Term Incentive Units (LTI Units) was $11.5 million in 2022, $21.3 million in 2021, and $13.8 million in 2020[313] Depreciation and Amortization - Depreciation for buildings and improvements is calculated over 10 to 45 years, and for machinery and equipment over 3 to 15 years using the straight-line method[192] - Leasehold improvements are depreciated over the shorter of the asset's useful life or the lease term, with maintenance costs expensed as incurred[192] - Software development costs are capitalized during the application stage and amortized over 5 to 10 years[194] - Venture investments are measured at cost less impairment,