Avery Dennison (AVY) Tops Q2 EPS by 20c, Raises Guidance

Avery Dennison (NYSE: AVY) reported Q2 EPS of $2.25, $0.20 better than the analyst estimate of $2.05. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $1.88 billion.

GUIDANCE:

Avery Dennison sees FY2021 EPS of $8.65-$8.95, versus the consensus of $8.69.

• In its supplemental presentation materials, “Second Quarter 2021 Financial Review and Analysis,” the company provides a list of factors that it believes will contribute to its 2021 financial results. Based on the factors listed and other assumptions, the company has raised its guidance range for 2021 reported earnings per share from $8.25 to $8.65 to $8.50 to $8.80. Excluding an estimated $0.15 per share related to restructuring charges and other items, the company’s guidance range for adjusted earnings per share has been raised from $8.40 to $8.80 to $8.65 to $8.95.

For earnings history and earnings-related data on Avery Dennison (AVY) click here.

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