Organic sales increased by 3% year-over-year, primarily due to higher volume and mix, partially offset by raw material deflation-related price reductions. This indicates successful market penetration and product demand.

Company-wide, on an organic basis, sales of Intelligent Label solutions increased by a mid-to-high teens rate compared to the same period in the prior year, demonstrating successful innovation and market adoption.

The company anticipates net sales to increase due to higher volume as its markets improve following significant inventory destocking downstream from the company in 2023, as well as growth in Intelligent Labels.

The company continues to execute its 2023 restructuring plan to optimize its European footprint in the Materials Group segment, expecting substantial completion by mid-2025.

Benefits from productivity initiatives, including material re-engineering and savings from restructuring actions, contributed to the increase in gross profit margin, demonstrating effective cost management.

The company expects incremental savings from restructuring actions, net of transition costs, indicating that the company believes these actions will be effective.

International operations generated approximately 70% of net sales, making the company susceptible to political, social, and economic conditions globally and in the regions in which it operates.

Based on recent rates, the company expects a modestly unfavorable impact to its full-year operating income from foreign currency translation, indicating that the company is exposed to foreign currency risks.

The company is involved in various lawsuits, claims, inquiries and other regulatory and compliance matters, and the ultimate resolution of these claims could affect future results of operations.

The company's Materials Group and Solutions Group both generated significant net sales, indicating that the company maintains a strong market position in both of these markets.

Company-wide, on an organic basis, sales of Intelligent Label solutions increased by a mid-to-high teens rate compared to the same period in the prior year, indicating that the company is focused on innovation and growth in this market.

The company is taking steps to mitigate the impact of competition, such as by investing in productivity initiatives and restructuring actions.

Benefits from productivity initiatives, including material re-engineering and savings from restructuring actions, contributed to the increase in gross profit margin, demonstrating effective cost management.

The company continues to execute its 2023 restructuring plan to optimize its European footprint in the Materials Group segment, expecting substantial completion by mid-2025.

The company expects incremental savings from restructuring actions, net of transition costs, indicating that the company believes these actions will be effective.

Company-wide, on an organic basis, sales of Intelligent Label solutions increased by a mid-to-high teens rate compared to the same period in the prior year, indicating that the company is focused on innovation and growth in this market.

During the first three months of 2024 and 2023, the company primarily invested in information technology upgrades in the U.S., indicating that the company is committed to investing in technology.

The company is taking steps to mitigate the impact of competition, such as by investing in productivity initiatives and restructuring actions.

In April 2024, subsequent to the end of our first quarter 2024, we increased our quarterly dividend rate to $0.88 per share, representing an increase of approximately 9% from our previous quarterly dividend rate of $0.81 per share.

During the first three months of 2024 and 2023, we repurchased approximately 0.1 million and 0.3 million shares of our common stock, respectively.

We are currently considering various sources, including cash flows from operations, commercial paper borrowings and other financings, to repay approximately $300 million of senior notes and €500 million of senior notes maturing in the third quarter of 2024 and first quarter of 2025, respectively.

We review our estimates of the costs of complying with environmental laws related to remediation and cleanup of various sites, including sites in which governmental agencies have designated us as a potentially responsible party ("PRP").

We remain committed to maintaining an investment grade rating, indicating that the company is committed to strong governance practices.

The company is taking steps to mitigate the impact of competition, such as by investing in productivity initiatives and restructuring actions.

The company anticipates net sales to increase due to higher volume as its markets improve following significant inventory destocking downstream from the company in 2023, as well as growth in Intelligent Labels.

The company is taking steps to mitigate the impact of competition, such as by investing in productivity initiatives and restructuring actions.

Company expects a modestly unfavorable impact to its full-year operating income from foreign currency translation, indicating that the company is exposed to foreign currency risks.