Advertisement
Canada markets closed
  • S&P/TSX

    21,947.41
    +124.19 (+0.57%)
     
  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     
  • DOW

    38,675.68
    +450.02 (+1.18%)
     
  • CAD/USD

    0.7308
    -0.0006 (-0.08%)
     
  • CRUDE OIL

    77.99
    -0.96 (-1.22%)
     
  • Bitcoin CAD

    86,790.09
    +5,864.73 (+7.25%)
     
  • CMC Crypto 200

    1,359.39
    +82.41 (+6.45%)
     
  • GOLD FUTURES

    2,310.10
    +0.50 (+0.02%)
     
  • RUSSELL 2000

    2,035.72
    +19.61 (+0.97%)
     
  • 10-Yr Bond

    4.5000
    -0.0710 (-1.55%)
     
  • NASDAQ

    16,156.33
    +315.37 (+1.99%)
     
  • VOLATILITY

    13.49
    -1.19 (-8.11%)
     
  • FTSE

    8,213.49
    +41.34 (+0.51%)
     
  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     
  • CAD/EUR

    0.6787
    -0.0030 (-0.44%)
     

Avery Dennison (AVY) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Avery Dennison (AVY) reported $2.15 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 4.2%. EPS of $2.29 for the same period compares to $1.70 a year ago.

The reported revenue represents a surprise of +0.16% over the Zacks Consensus Estimate of $2.15 billion. With the consensus EPS estimate being $2.15, the EPS surprise was +6.51%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

ADVERTISEMENT

Here is how Avery Dennison performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Sales- Solutions Group: $654.80 million versus $677.15 million estimated by two analysts on average.

  • Net Sales- Materials Group: $1.50 billion versus $1.46 billion estimated by two analysts on average.

  • Adjusted Operating income (loss)- Corporate expense: -$27.80 million versus -$21.46 million estimated by two analysts on average.

  • Adjusted Operating income (loss)- Solutions Group: $56.10 million versus $76.27 million estimated by two analysts on average.

  • Adjusted Operating income (loss)- Materials Group: $226.10 million versus the two-analyst average estimate of $201.44 million.

View all Key Company Metrics for Avery Dennison here>>>

Shares of Avery Dennison have returned -3.7% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Avery Dennison Corporation (AVY) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research