Avery Dennison: Q2 Earnings Snapshot

MENTOR, Ohio (AP) — MENTOR, Ohio (AP) — Avery Dennison Corp. (AVY) on Tuesday reported second-quarter earnings of $189 million. On a per-share basis, the Mentor, Ohio-based company said it had profit of $2.41. Earnings, adjusted for restructuring costs, were $2.42 per share. The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.38 per share. The maker of office products posted revenue of $2.22 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $2.23 billion. For the current quarter ending in September, Avery Dennison expects its per-share earnings to range from $2.24 to $2.40. Avery Dennison shares have declined slightly more than 4% since the beginning of the year, while the S&P’s 500 index has climbed 7%. The stock has decreased 19% in the last 12 months. _____ 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 Source