Avery Dennison Corp. reported a profit for its second quarter, beating Street estimates and increasing earnings from last year.
Earnings were $176.8 million, or $2.18 per share, compared to $100.4 million or $1.24 per share in the previous quarter. Adjusted earnings were $196.0 million or $2.42 per share, excluding special items.
“We delivered a strong second quarter, with significant earnings growth, driven by higher volume and productivity gains,” said Deon Stander, president and CEO. “Both our Materials and Solutions Groups delivered strong top- and bottom-line growth.
Analysts had expected earnings of $2.26 per share, but the company’s revenue rose 7.2% to $2.24 billion from $2.09 billion last year. The company’s earnings at a glance (GAAP) show earnings (Q2) at $176.8 million, EPS (Q2) at $2.18, and revenue at $2.24 billion.
Source: Business Insiders
Source: Reuters
Source: Avery
