Avery Dennison (AVY) Tops Q3 EPS by 41c; 'Expects Sales to Decline in 2020 on Lower Demand, 2Q Representing Trough'

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Go back to Avery Dennison (AVY) Tops Q3 EPS by 41c; 'Expects Sales to Decline in 2020 on Lower Demand, 2Q Representing Trough'

Avery Dennison Announces Third Quarter 2020 Results

October 21, 2020 6:45 AM EDT

Highlights:

3Q20 Reported EPS of $1.79, up 5% Adjusted EPS (non-GAAP) of $1.91, up 15% 3Q20 Net sales declined 1.8% to $1.73 billion Sales change ex. currency (non-GAAP) of (1.3%) Organic sales change (non-GAAP) of (3.6%) Strong balance sheet (net debt to adj. EBITDA ratio of 1.9) with ample liquidity Free cash flow proving resilient targeting more than $500 mil. for the year Increasing distributions to shareholders: raised dividend by 7% and resumed share repurchase late in the third quarter

GLENDALE, Calif.--(BUSINESS WIRE)-- Avery... More