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Avery Dennison: Q2 Earnings Snapshot
By AP News - Jul 25, 2023, 07:00 AM ET
Last Updated - Jul 25, 2023, 07:00 AM EDT
MENTOR, Ohio (AP) — MENTOR, Ohio (AP) — Avery Dennison Corp. (AVY) on Tuesday reported second-quarter earnings of $100.4 million.
The Mentor, Ohio-based company said it had net income of $1.24 per share. Earnings, adjusted for one-time gains and costs, were $1.92 per share.
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The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.01 per share.
The maker of office products posted revenue of $2.09 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $2.16 billion.
For the current quarter ending in September, Avery Dennison expects its per-share earnings to range from $2 to $2.20.
Avery Dennison shares have declined almost 2% since the beginning of the year, while the S&P's 500 index has climbed 19%. The stock has climbed slightly more than 1% 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 AVY">Zacks stock report on AVY at https://www.zacks.com/ap/AVY
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