financetom
Business
financetom
/
Business
/
Label maker Avery Dennison raises annual adjusted profit forecast
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Label maker Avery Dennison raises annual adjusted profit forecast
Oct 23, 2024 5:57 AM

Oct 23 (Reuters) - Avery Dennison raised the

lower end of its full-year adjusted earnings forecast on

Wednesday as demand remained strong for the company's labeling

products.

The Ohio-based firm, which has about 35,000 employees in

more than 50 countries, makes packaging and labeling products

such as radio frequency tags.

In July, the company flagged it was seeing an uptick in

demand from its base and high-value categories at its unit which

provides supply chain solutions, aiding its margins.

Avery Dennison said it now expects a full-year adjusted

profit per share of between $9.35 and $9.50, compared with its

prior forecast range of $9.30 to $9.50.

Analysts expect the company to report an annual profit of

$9.43 per share, according data compiled by LSEG.

Third-quarter sales at Avery Dennison's unit, which makes

pressure-sensitive labels and vehicle wraps, the company's

biggest revenue driver, rose 2.9% to nearly $1.5 billion.

On an adjusted basis, the company earned $2.33 per share,

slightly above analysts' average estimate of $2.32.

Overall revenue rose 4.1% to $2.18 billion, compared with

estimates of $2.2 billion.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Key quotes in US appeals court's blockbuster TikTok ruling
Key quotes in US appeals court's blockbuster TikTok ruling
Dec 6, 2024
(Reuters) - A U.S. federal appeals court on Friday upheld a law that could force China-based ByteDance to sell its short video app TikTok in the United States. Here is a look at some of the key passages from the blockbuster ruling, which rejected claims that the law will infringe the U.S. Constitution's First Amendment speech protections. From Judge Douglas...
Update: Lululemon Athletica Fiscal Q3 Earnings, Sales Increase; Lifts Fiscal 2024 Guidance; Shares Rise
Update: Lululemon Athletica Fiscal Q3 Earnings, Sales Increase; Lifts Fiscal 2024 Guidance; Shares Rise
Dec 6, 2024
11:24 AM EST, 12/06/2024 (MT Newswires) -- (Updates with the latest stock move in the headline and the first paragraph.) Lululemon Athletica's ( LULU ) shares surged past 17% in recent Friday trading, a day after the company reported a year-over-year increase in fiscal Q3 earnings and revenue, and raised its guidance for the full year. The company reported fiscal...
Aaon Insider Sold Shares Worth $690,000, According to a Recent SEC Filing
Aaon Insider Sold Shares Worth $690,000, According to a Recent SEC Filing
Dec 6, 2024
11:21 AM EST, 12/06/2024 (MT Newswires) -- Rebecca Thompson, Chief Financial Officer, on December 05, 2024, sold 5,000 shares in Aaon ( AAON ) for $690,000. Following the Form 4 filing with the SEC, Thompson has control over a total of 20,741 shares of the company, with 17,297 shares held directly and 3,444 controlled indirectly. SEC Filing: https://www.sec.gov/Archives/edgar/data/824142/000082414224000238/xslF345X05/wk-form4_1733501927.xml Price: 137.09,...
What's Going On With AMC Entertainment Stock Friday?
What's Going On With AMC Entertainment Stock Friday?
Dec 6, 2024
AMC Entertainment Holdings, Inc. ( AMC ) shares are moving lower on Friday after the company announced a sales agreement for up to 50 million Class A shares. Recently, AMC has been drawing an increasing amount of buzz on social media, with widespread attention across various platforms. What To Know: AMC has entered into an agreement with Goldman Sachs Group,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved