MENTOR, Ohio (AP) — MENTOR, Ohio (AP) — Avery Dennison Corp. (AVY) on Thursday reported second-quarter earnings of $204.1 million.
On a per-share basis, the Mentor, Ohio-based company said it had profit of $2.67. Earnings, adjusted for one-time gains and costs, were $2.89 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.47 per share.
The maker of office products posted revenue of $2.46 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $2.29 billion.
Avery Dennison expects full-year earnings in the range of $10 to $10.30 per share.
Avery Dennison shares have decreased 8% since the beginning of the year, while the S&P’s 500 index has risen roughly 7%. The stock has dropped 3% 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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