We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Avery Dennison Gears up to Report Q3 Earnings: What's in Store?
Read MoreHide Full Article
Avery Dennison Corporation (AVY - Free Report) is scheduled to report third-quarter 2024 results before the opening bell on Oct. 23.
The Zacks Consensus Estimate for AVY’s third-quarter revenues is pegged at $2.18 billion, indicating 4.4% growth from the year-ago reported figure.
The consensus estimate for earnings is pegged at $2.32 per share. The Zacks Consensus Estimate for AVY’s third-quarter earnings has been unchanged in the past 60 days. The estimate indicates year-over-year growth of 10.5%.
Image Source: Zacks Investment Research
AVY’s Solid Earnings Surprise History
Avery Dennison’s earnings beat the Zacks Consensus Estimates in the trailing four quarters, the average surprise being 4%.
Our proven model does not conclusively predict an earnings beat for AVY this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here, as you can see below.
You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Earnings ESP: Avery Dennison has an Earnings ESP of 0.00%.
Zacks Rank: AVY currently carries a Zacks Rank of 2.
Factors Likely to Have Shaped AVY’s Q3 Performance
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.
Our model predicts the Materials Group segment’s organic sales to rise 3.7% year over year in the quarter. We expect the segment’s third-quarter 2024 revenues to increase 3.7% year over year to $1.51 billion. Our prediction for the segment’s adjusted operating profit is pinned at $229.8 million, indicating a year-over-year improvement of 10.3%.
We expect the Solutions Group segment’s organic sales to grow 5.8% year over year in the third quarter. Our model predicts the segment’s sales at $680 million, suggesting an increase of 5.9% from the prior-year quarter’s actual. The same for the segment’s operating profit is pinned at $70.5 million, indicating an increase of 14.8% from the year-ago quarter’s reported figure.
Avery Dennison’s Share Price Outperforms Industry
AVY shares have gained 28.9% in the past year compared with the industry’s growth of 23%.
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 earnings is pegged at $1.31 per share, which indicates year-over-year growth of 27.2%. It has a trailing four-quarter average surprise of 11.2%.
Ingersoll Rand Inc. (IR - Free Report) , scheduled to release its third-quarter 2024 on Oct. 31, currently has an Earnings ESP of +1.22% and a Zacks Rank of 2.
The Zacks Consensus Estimate for Ingersoll Rand’s third-quarter 2024 earnings is pegged at 82 cents per share, suggesting year-over-year growth of 6.5%. It has a trailing four-quarter average surprise of 11%.
Eaton Corporation plc (ETN - Free Report) , expected to release earnings soon, has an Earnings ESP of +0.48% and a Zacks Rank of 2 at present.
The consensus estimate for Eaton’s earnings for the third quarter of 2024 is pegged at $2.80 per share, indicating year-over-year growth of 13.4%. ETN has a trailing four-quarter average surprise of 4.7%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Avery Dennison Gears up to Report Q3 Earnings: What's in Store?
Avery Dennison Corporation (AVY - Free Report) is scheduled to report third-quarter 2024 results before the opening bell on Oct. 23.
The Zacks Consensus Estimate for AVY’s third-quarter revenues is pegged at $2.18 billion, indicating 4.4% growth from the year-ago reported figure.
The consensus estimate for earnings is pegged at $2.32 per share. The Zacks Consensus Estimate for AVY’s third-quarter earnings has been unchanged in the past 60 days. The estimate indicates year-over-year growth of 10.5%.
Image Source: Zacks Investment Research
AVY’s Solid Earnings Surprise History
Avery Dennison’s earnings beat the Zacks Consensus Estimates in the trailing four quarters, the average surprise being 4%.
Image Source: Zacks Investment Research
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
What the Zacks Model Unveils for Avery Dennison
Our proven model does not conclusively predict an earnings beat for AVY this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here, as you can see below.
You can uncover the best stocks before they are reported with our Earnings ESP Filter.
Earnings ESP: Avery Dennison has an Earnings ESP of 0.00%.
Zacks Rank: AVY currently carries a Zacks Rank of 2.
Factors Likely to Have Shaped AVY’s Q3 Performance
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.
Our model predicts the Materials Group segment’s organic sales to rise 3.7% year over year in the quarter. We expect the segment’s third-quarter 2024 revenues to increase 3.7% year over year to $1.51 billion. Our prediction for the segment’s adjusted operating profit is pinned at $229.8 million, indicating a year-over-year improvement of 10.3%.
We expect the Solutions Group segment’s organic sales to grow 5.8% year over year in the third quarter. Our model predicts the segment’s sales at $680 million, suggesting an increase of 5.9% from the prior-year quarter’s actual. The same for the segment’s operating profit is pinned at $70.5 million, indicating an increase of 14.8% from the year-ago quarter’s reported figure.
Avery Dennison’s Share Price Outperforms Industry
AVY shares have gained 28.9% in the past year compared with the industry’s growth of 23%.
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 third-quarter results on Oct. 28. It has an Earnings ESP of +0.09% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CR’s earnings is pegged at $1.31 per share, which indicates year-over-year growth of 27.2%. It has a trailing four-quarter average surprise of 11.2%.
Ingersoll Rand Inc. (IR - Free Report) , scheduled to release its third-quarter 2024 on Oct. 31, currently has an Earnings ESP of +1.22% and a Zacks Rank of 2.
The Zacks Consensus Estimate for Ingersoll Rand’s third-quarter 2024 earnings is pegged at 82 cents per share, suggesting year-over-year growth of 6.5%. It has a trailing four-quarter average surprise of 11%.
Eaton Corporation plc (ETN - Free Report) , expected to release earnings soon, has an Earnings ESP of +0.48% and a Zacks Rank of 2 at present.
The consensus estimate for Eaton’s earnings for the third quarter of 2024 is pegged at $2.80 per share, indicating year-over-year growth of 13.4%. ETN has a trailing four-quarter average surprise of 4.7%.