Avery Dennison Corp. (AVY) Misses Q1 EPS by 1c

Avery Dennison Corp. (NYSE: AVY) reported Q1 EPS of $0.65, $0.01 worse than the analyst estimate of $0.66. Revenue for the quarter came in at $1.55 billion versus the consensus estimate of $1.57 billion.

“I’m pleased to report a solid start to 2014, with earnings in line with our expectations,” said Dean Scarborough, Avery Dennison chairman, president and CEO. “Sales were up nearly 5 percent on an organic basis, driven by strong volume growth in Pressure-sensitive Materials. Retail Branding and Information Solutions delivered another quarter of strong earnings growth, reflecting the successful execution of productivity initiatives across the business.”

“We are maintaining our guidance for full-year adjusted earnings per share growth in the range of 8 to 19 percent, and remain committed to our disciplined strategy for capital allocation,” Scarborough added. “I am confident that the consistent execution of our strategies for long-term value creation will continue to benefit our customers, employees, and shareholders.”

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

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