Avery Dennison Corporation (NYSE:AVY) is a global leader in labeling and packaging materials and solutions. The company reported adjusted earnings of $1.33 per share in the fourth quarter of 2017, beating the Zacks Consensus Estimate of $1.25.
Revenue: It reported fourth-quarter revenues of $1.74 billion, ahead of the Zacks Consensus Estimate of $1.70 billion. Sales increased 11.9% year over year driven by contributions from acquisitions and organic growth.
Outlook: For 2018, Avery Dennison guides its adjusted earnings per share range of $5.70-$5.95. The company expects to deliver a strong top-line and double-digit EPS growth in 2018.
Estimate Trend & Surprise History: Investors should note that the earnings estimate revisions for Avery Dennison have remained stable prior to the earnings release. The Zacks Consensus Estimate currently stands at $1.25 for the fourth quarter.
Coming to earnings surprise history, Avery Dennison has an impressive track record. In the past 4 quarters, the company has outpaced the Zacks Consensus Estimate on all occasions, with an average beat of 6.85%.
Zacks Rank: Currently Avery Dennison has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change.
Market Reaction: Shares remained flat in pre-market trading following the release, at the time of this write-up.
Check back later for our full write up on this Avery Dennison earnings report later!
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Avery Dennison Corporation (AVY): Free Stock Analysis Report
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