Avery Dennison Raises FY21 Adj. Earnings Outlook - Quick Facts

(RTTNews) - Avery Dennison Corporation (AVY) has raised its guidance range for 2021 reported earnings per share to a range of $8.25 to $8.65 from a range of $7.50 to $7.90. Excluding an estimated $0.15 per share related to restructuring charges and other items, guidance for adjusted earnings per share has been raised to a range of $8.40 to $8.80 from a range of $7.65 to $8.05.

First quarter adjusted earnings per share was $2.40, up 45% from last year. Net sales increased 19.1% to $2.05 billion. Sales growth ex. currency was 10.9%. Organic sales growth was 8.8%, for the quarter.

"We are off to a strong start to the year, with earnings growth well above expectations, driven by higher volume and productivity gains across the portfolio," said Mitch Butier, Avery Dennison president and CEO.