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Avery (AVY) Q1 Earnings Top, Sales Miss Estimates

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Avery Dennison Corporation (AVY - Free Report) is a global leader in labeling and packaging materials and solutions. The company reported adjusted earnings of $1.48 per share in first-quarter, beating the Zacks Consensus Estimate of $1.46. Earnings also improved 2.7% year over year.

Revenue: Avery posted revenues of $1.74 billion and missed the Zacks Consensus Estimate of $1.75 billion.

Earnings Estimates Revision: Investors should note that the earnings estimate revisions for Avery for the first quarter have been stable ahead of the earnings release.

As regards earnings surprise, Avery has outpaced the Zacks Consensus Estimate in three of the past four quarters, with an average beat of 3.63%.

Outlook: For 2019, Avery Dennison maintained adjusted earnings per share guidance of $6.45-$6.70. 

Avery Dennison Corporation Price and EPS Surprise

Zacks Rank: Currently, Avery carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
 
Market Reaction: Avery’s shares were inactive in the pre-market trading. It would be interesting to see how the market reacts to the results during the trading session today.
 
Check back later for our full write up on Grainger’s earnings report!

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