Avery Dennison Raises 2017 Outlook

(RTTNews) - Avery Dennison Corp. (AVY) said that it now expects 2017 reported earnings per share of $4.45 to $4.60. Excluding an estimated $0.30 per share for restructuring charges and other items, the company now expects adjusted earnings per share of $4.75 to $4.90. Analysts polled by Thomson Reuters expect the company to report earnings of $4.60 per share for fiscal year 2017. Analysts' estimates typically exclude special items.

Previously, the company expected 2017 reported earnings per share of $4.20 to $4.35. Excluding an estimated $0.30 per share for restructuring charges and other items, the company expected adjusted earnings per share of $4.50 to $4.65.

"We have raised our outlook for full-year earnings per share, reflecting continued strong operating performance and a reduction in the tax rate. we continue to remain confident that the consistent execution of our strategies will enable us to meet our long-term goals for superior value creation through a balance of profitable growth and capital discipline," said Mitch Butier, Avery Dennison President and CEO.