Compared to Estimates, Avery Dennison (AVY) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, Avery Dennison (AVY) reported revenue of $2.09 billion, down 10.9% over the same period last year. EPS came in at $1.92, compared to $2.64 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.16 billion, representing a surprise of -3.07%. The company delivered an EPS surprise of -4.48%, with the consensus EPS estimate being $2.01.
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.
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: $614.50 million versus the three-analyst average estimate of $634.68 million.
Net Sales- Materials Group: $1.48 billion versus $1.55 billion estimated by three analysts on average.
Adjusted Operating income (loss)- Corporate expense: -$21.10 million compared to the -$21.23 million average estimate based on three analysts.
Adjusted Operating income (loss)- Solutions Group: $55 million versus $71.92 million estimated by three analysts on average.
Adjusted Operating income (loss)- Materials Group: $199.90 million versus $198.26 million estimated by three analysts on average.
View all Key Company Metrics for Avery Dennison here>>>
Shares of Avery Dennison have returned +5% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Avery Dennison Corporation (AVY) : Free Stock Analysis Report
