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Avery Dennison: 4Q Earnings Snapshot

January 30, 2019

GLENDALE, Calif. (AP) _ Avery Dennison Corp. (AVY) on Wednesday reported fourth-quarter net income of $97.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Glendale, California-based company said it had profit of $1.11. Earnings, adjusted for one-time gains and costs, came to $1.52 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.

The maker of office products posted revenue of $1.77 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.78 billion.

For the year, the company reported profit of $467.4 million, or $5.28 per share. Revenue was reported as $7.16 billion.

Avery Dennison expects full-year earnings in the range of $6.45 to $6.70 per share.

Avery Dennison shares have climbed roughly 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 5 percent. The stock has fallen 17 percent 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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