Avery Dennison Corporation AVY is a global leader in labeling and packaging materials and solutions. The company reported adjusted earnings of $1.44 per share in first-quarter 2018, beating the Zacks Consensus Estimate of $1.34. Adjusted earnings surged 30% year over year driven by strong operating results, currency translation tailwinds and a lower tax rate. Revenue:
It reported revenues of $1.78 billion in the first quarter, ahead of the Zacks Consensus Estimate of $1.76 billion. Sales increased 13% on a year over year basis. Outlook:
For 2018, Avery Dennison raised its adjusted earnings per share guidance to $5.85-$6.05 from $5.70-$5.95. Estimate Trend & Surprise History:
Investors should note that the earnings estimate revisions for Avery Dennison have remained stable prior to the earnings release. The Zacks Consensus Estimate currently stands at $1.34 for the first quarter.
Avery Dennison Corporation Price and EPS Surprise
Avery Dennison Corporation Price and EPS Surprise | Avery Dennison Corporation Quote
Coming to earnings surprise history, Avery Dennison has an impressive track record. In the past 4 quarters, the company has outpaced the Zacks Consensus Estimate on all occasions, with an average beat of 6.84%.
Zacks Rank: Currently Avery Dennison has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Market Reaction: Shares remained flat in pre-market trading following the release, at the time of this write-up. 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 this Avery Dennison earnings report later!
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