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Avery Dennison (AVY) to Report Q1 Earnings: What's in Store?
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Avery Dennison Corporation (AVY - Free Report) is scheduled to report first-quarter 2024 results before the opening bell on Apr 24.
Q1 Estimates
The Zacks Consensus Estimate for first-quarter total sales is pegged at $2.15 billion, suggesting growth of 4% from the prior-year quarter’s reported figure. The consensus mark for the company’s earnings per share is pinned at $2.15, indicating a year-over-year increase of 26.5%.
Avery Dennison’s revenues and earnings increased year over year in the fourth quarter of 2023. The top and bottom lines surpassed the Zacks Consensus Estimate. AVY has a trailing four-quarter negative earnings surprise of 0.04%, on average.
Factors at Play
Avery Dennison has been witnessing solid demand for the labeling of non-durable consumer goods like food, beverage, home and personal care products. However, strong demand and supply constraints have been pushing raw material, labor and freight cost increases. These factors are expected to have impacted the company’s margins in the to-be-reported quarter.
Nonetheless, Avery Dennison has been executing several pricing and re-engineering actions to mitigate inflationary cost pressure.
Segmental Expectations
Our model predicts Materials Group’s organic sales to rise 1.7% year over year in the quarter. We expect the segment’s first-quarter 2024 revenues to increase 1.7% year over year to $1.48 billion. Our prediction for the segment’s adjusted operating profit is pinned at $200.2 million, indicating a year-over-year improvement of 14.5%.
We expect the Solutions Group segment’s organic sales to grow 7.6% year over year in the first quarter. Our model predicts the segment’s sales at $661 million, suggesting an increase of 9.3% from the prior year’s actual. The same for the segment’s operating profit is pinned at $70.7 million, indicating an increase of 28.3% from the year-ago quarter’s reported figure.
What the Zacks Model Indicates
Our proven model does not conclusively predict an earnings beat for Avery Dennison this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, but that is not the case here.
You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Earnings ESP: AVY has an Earnings ESP of 0.00%.
Zacks Rank: Avery Dennison currently carries a Zacks Rank of 2.
Price Performance
AVY shares have gained 18.5% in the past year compared with the industry’s growth of 25%.
Image Source: Zacks Investment Research
Stocks That Warrant a Look
Here are some companies with the right combination of elements to post an earnings beat in their upcoming releases.
The Zacks Consensus Estimate for CR’s first-quarter earnings is pegged at $1.12 per share. It has a trailing four-quarter average surprise of 25.1%.
Eaton Corporation plc (ETN - Free Report) , expected to release earnings soon, has an Earnings ESP of +1.95%.
The consensus estimate for Eaton’s earnings for the first quarter of 2024 is pegged at $2.28 per share. ETN currently carries a Zacks Rank of 2. It has a trailing four-quarter average surprise of 4.8%
Ingersoll Rand Inc. (IR - Free Report) , scheduled to release its first-quarter 2024 on May 2, has an Earnings ESP of +1.82% and a Zacks Rank of 2.
The Zacks Consensus Estimate for Ingersoll Rand’s first-quarter 2024 earnings is pegged at 69 cents per share. It has a trailing four-quarter average surprise of 15.9%.
Image: Bigstock
Avery Dennison (AVY) to Report Q1 Earnings: What's in Store?
Avery Dennison Corporation (AVY - Free Report) is scheduled to report first-quarter 2024 results before the opening bell on Apr 24.
Q1 Estimates
The Zacks Consensus Estimate for first-quarter total sales is pegged at $2.15 billion, suggesting growth of 4% from the prior-year quarter’s reported figure. The consensus mark for the company’s earnings per share is pinned at $2.15, indicating a year-over-year increase of 26.5%.
Avery Dennison Corporation Price and EPS Surprise
Avery Dennison Corporation price-eps-surprise | Avery Dennison Corporation Quote
Q4 Performance
Avery Dennison’s revenues and earnings increased year over year in the fourth quarter of 2023. The top and bottom lines surpassed the Zacks Consensus Estimate. AVY has a trailing four-quarter negative earnings surprise of 0.04%, on average.
Factors at Play
Avery Dennison has been witnessing solid demand for the labeling of non-durable consumer goods like food, beverage, home and personal care products. However, strong demand and supply constraints have been pushing raw material, labor and freight cost increases. These factors are expected to have impacted the company’s margins in the to-be-reported quarter.
Nonetheless, Avery Dennison has been executing several pricing and re-engineering actions to mitigate inflationary cost pressure.
Segmental Expectations
Our model predicts Materials Group’s organic sales to rise 1.7% year over year in the quarter. We expect the segment’s first-quarter 2024 revenues to increase 1.7% year over year to $1.48 billion. Our prediction for the segment’s adjusted operating profit is pinned at $200.2 million, indicating a year-over-year improvement of 14.5%.
We expect the Solutions Group segment’s organic sales to grow 7.6% year over year in the first quarter. Our model predicts the segment’s sales at $661 million, suggesting an increase of 9.3% from the prior year’s actual. The same for the segment’s operating profit is pinned at $70.7 million, indicating an increase of 28.3% from the year-ago quarter’s reported figure.
What the Zacks Model Indicates
Our proven model does not conclusively predict an earnings beat for Avery Dennison this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, but that is not the case here.
You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Earnings ESP: AVY has an Earnings ESP of 0.00%.
Zacks Rank: Avery Dennison currently carries a Zacks Rank of 2.
Price Performance
AVY shares have gained 18.5% in the past year compared with the industry’s growth of 25%.
Image Source: Zacks Investment Research
Stocks That Warrant a Look
Here are some companies with the right combination of elements to post an earnings beat in their upcoming releases.
Crane Company (CR - Free Report) is scheduled to release its first-quarter 2024 results on Apr 22. It has an Earnings ESP of +0.28% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CR’s first-quarter earnings is pegged at $1.12 per share. It has a trailing four-quarter average surprise of 25.1%.
Eaton Corporation plc (ETN - Free Report) , expected to release earnings soon, has an Earnings ESP of +1.95%.
The consensus estimate for Eaton’s earnings for the first quarter of 2024 is pegged at $2.28 per share. ETN currently carries a Zacks Rank of 2. It has a trailing four-quarter average surprise of 4.8%
Ingersoll Rand Inc. (IR - Free Report) , scheduled to release its first-quarter 2024 on May 2, has an Earnings ESP of +1.82% and a Zacks Rank of 2.
The Zacks Consensus Estimate for Ingersoll Rand’s first-quarter 2024 earnings is pegged at 69 cents per share. It has a trailing four-quarter average surprise of 15.9%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.