Labeling firm Avery Dennison forecasts annual profit below estimates

Jan 30 (Reuters) - Avery Dennison AVY.N forecast full-year profit below estimates on Thursday, in part due to a hit from a strong U.S. dollar, sending its shares down 4.6% before the bell.

The labeling firm forecast 2025 adjusted profit between $9.80 and $10.20, missing analysts' average estimate of $10.43, according to data compiled by LSEG.

The company, which operates in more than 50 countries, is a global materials science and digital identification solutions provider. Its international sales made up for 69% of net sales in 2023.

Avery said it expects a $30 million headwind to operating income in 2025 from currency translation.

The dollar hit a two-year high earlier this year, building on last year's strong gains on expectations that U.S. growth will beat peers and keep interest rates relatively elevated.

The company earned $2.38 per share on an adjusted basis in the fourth quarter, in line with estimates of $2.38 per share.

Its overall quarterly revenue rose 3.6% to $2.19 billion, matching analysts' expectations.