Avery Dennison (AVY) Tops Q2 EPS by 3c, Provides Outlook

Avery Dennison (NYSE: AVY) reported Q2 EPS of $0.91, $0.03 better than the analyst estimate of $0.88. Revenue for the quarter came in at $1.52 billion versus the consensus estimate of $1.52 billion.

Outlook

In its supplemental presentation materials, “Second Quarter 2015 Financial Review and Analysis,” the company provides a list of factors that it believes will contribute to its 2015 financial results. Based on the factors listed and other assumptions, the company has reduced its previous guidance for 2015 earnings per share by $0.03 to $2.82 to $3.02, reflecting the loss on sale of a product line and related exit costs in the second quarter. Excluding an estimated $0.43 per share for restructuring costs and other items, the company continues to expect adjusted (non-GAAP) earnings per share of $3.25 to $3.45.

(Street sees FY15 EPS of $3.34)

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

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