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Avery Dennison reports Q3 2023 results, missing revenue estimates

Published 10/25/2023, 02:27 PM
© Reuters.

Avery Dennison (NYSE:AVY) reported its Q3 2023 financial performance, showing a year-on-year decline with revenue standing at $2.1 billion, down by 9.4%.

The company's Solutions Group and Materials Group reported net sales of $642.30 million and $1.46 billion respectively, both slightly below average estimates. The adjusted operating income showed a loss of -$20.30 million in Corporate expense, which was less than the predicted -$24.26 million. Meanwhile, the Solutions Group and Materials Group posted incomes of $61.40 million and $208.30 million respectively, both figures marginally lower than estimates.

In terms of stock performance, AVY's shares dipped -5.2% over the past month.

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