Avery Dennison Achieves Strong Performance in First Quarter of 2021
The company reported net sales increased 19.1% to nearly $2.1 billion.
Avery Dennison Corp. recently announced preliminary, unaudited results for its first quarter ended April 3, 2021. The company's net sales increased 19.1% to nearly $2.1 billion; sales growth ex. currency was 10.9%, while organic sales growth was 8.8%.
"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, president and CEO. "All three of our operating segments delivered strong sales growth and significant margin expansion. Our strong performance comes at a time when the global health crisis is resurging in many parts of the world and supply chains are tightening. The current environment further reinforces our determination to remain vigilant in ensuring the health and well-being of our employees, delivering for our customers, supporting our communities, and creating value for our shareholders.