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Avery Dennison Corporation reported first-quarter results that edged past Wall Street expectations, as the materials science and digital identification solutions provider navigated steady demand across its global operations. The company delivered adjusted earnings of $2.47 per share, surpassing analysts’ $2.45 forecast by 0.8%, while revenue climbed to $2.30B for the quarter.
The $2.30B top line marked a 7.0% increase from $2.15B in the year-ago period, though organic sales growth was more modest at 1.1% for the quarter. Adjusted bottom-line profit came in at $190.5M as the company, which operates across North America, Europe, the Middle East, North Africa, Asia, and Latin America, continued to benefit from its diversified geographic footprint. Materials Group led segment performance with $1.65B in revenue, up 11.4% year-over-year, underscoring strength in the company’s core materials business.
For the current quarter, Avery Dennison projected adjusted earnings per share in the $2.43 to $2.53 range, providing investors with a view into management’s near-term expectations. The stock maintains support from analysts, with Wall Street consensus standing at 7 buy ratings, 5 hold ratings, and no sell recommendations on shares of the New York Stock Exchange-listed company.
A detailed analysis of Avery Dennison Corporation’s quarter follows shortly on AlphaStreet.
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