Avery Dennison Corp. (AVY) released earnings for third quarter that Decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $166.3 million, or $2.13 per share. This compares with $181.7 million, or $2.25 per share, last year.
Excluding items, Avery Dennison Corp. reported adjusted earnings of $184.8 million or $2.37 per share for the period.
Analysts on average had expected the company to earn $2.33 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 1.5% to $2.215 billion from $2.183 billion last year.
Avery Dennison Corp. earnings at a glance (GAAP) :
-Earnings: $166.3 Mln. vs. $181.7 Mln. last year.-EPS: $2.13 vs. $2.25 last year.-Revenue: $2.215 Bln vs. $2.183 Bln last year.
Looking ahead, for the fourth quarter, Avery Dennison anticipates its earnings in line with analysts’ expectations.
For the final quarter of fiscal 2025, the company expects net profit of $2.15 to $2.25 per share and adjusted earnings of $2.35 to $2.45 per share, which is in line with Street view of $2.44 per share.
For the fourth quarter of fiscal 2024, Avery Dennison had posted a net income of $2.16 per share and adjusted income of $2.38 per share.
AVY was up by 1.59% at $166.20 in the pre-market trade on the New York Stock Exchange.
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