Avery Dennison (NYSE: AVY) reported Q2 EPS of $1.27, $0.17 better than the analyst estimate of $1.10. Revenue for the quarter came in at $1.53 billion versus the consensus estimate of $1.5 billion.

Outlook:

The company is prepared for a range of possible macro scenarios and how they might impact each of its businesses. The company currently expects sales and earnings to decline in 2020 on lower demand, with the second quarter representing the trough.

In the third quarter, the company anticipates a decline in sales before the impact of currency translation in the range of 5 percent to 7 percent, or 7 percent to 9 percent on an organic basis.

The company has initiated cost control and cash management actions to partially offset the decline in demand for certain of its businesses, and is targeting to deliver free cash flow of approximately $500 million in 2020.

Other factors expected to impact the company’s full year financial performance are summarized in the company’s supplemental presentation materials, “Second Quarter 2020 Financial Review and Analysis.”

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