Earnings Growth and Strong Margins
Adjusted earnings per share (EPS) increased by 2% year over year, reaching $2.37, which was above the midpoint of expectations. Adjusted EBITDA margin was strong at 16.5%, up 10 basis points compared to the prior year.
Solutions Group Performance
Solutions Group delivered organic sales growth of 4%, driven by high single-digit growth in high-value categories like VESCOM and Embellix, both growing over 10%.
Intelligent Labels and Strategic Partnerships
Sales in enterprise-wide Intelligent Labels grew approximately 3% compared to the prior year. Key partnerships, such as with Walmart for RFID in fresh grocery categories, were highlighted as significant growth drivers.
Strategic Acquisitions and Shareholder Returns
The company closed a $390 million acquisition of Taylor Adhesives, repurchased $454 million in stock, and increased the dividend by 7%.