AP NEWS

Avery Dennison: 3Q Earnings Snapshot

October 23, 2019 GMT

GLENDALE, Calif. (AP) _ Avery Dennison Corp. (AVY) on Wednesday reported third-quarter net income of $144.6 million.

The Glendale, California-based company said it had profit of $1.71 per share. Earnings, adjusted for pretax gains, came to $1.66 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.60 per share.

The maker of office products posted revenue of $1.76 billion in the period, which met Street forecasts.

Avery Dennison expects full-year earnings in the range of $6.50 to $6.60 per share.

Avery Dennison shares have increased 32% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. The stock has climbed 22% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVY at https://www.zacks.com/ap/AVY