MENTOR, Ohio (AP) — MENTOR, Ohio (AP) — Avery Dennison Corp. (AVY) on Tuesday reported second-quarter earnings of $176.8 million.…
MENTOR, Ohio (AP) — MENTOR, Ohio (AP) — Avery Dennison Corp. (AVY) on Tuesday reported second-quarter earnings of $176.8 million.
On a per-share basis, the Mentor, Ohio-based company said it had profit of $2.18. Earnings, adjusted for one-time gains and costs, were $2.42 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.25 per share.
The maker of office products posted revenue of $2.24 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $2.18 billion.
Avery Dennison expects full-year earnings in the range of $9.30 to $9.50 per share.
Avery Dennison shares have increased 11% since the beginning of the year, while the S&P’s 500 index has risen 17%. The stock has climbed 27% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVY at https://www.zacks.com/ap/AVY
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