Avery Dennison Raises Full Year Adj. Earnings Outlook - Quick Facts

(RTTNews) - While reporting third-quarter results on Wednesday, Avery Dennison Corporation (AVY) has revised its guidance range for 2021 reported earnings per share to a range of $8.55 to $8.70, from a range of $8.50 to $8.80. Excluding an estimated $0.25 per share related to restructuring charges and other items, guidance range for adjusted earnings per share has been raised to $8.80 to $8.95, from $8.65 to $8.95.

Analysts polled by Thomson Reuters expect the company to report profit per share of $8.79. Analysts' estimates typically exclude special items.

Third quarter adjusted earnings per share was $2.14, up 12% from a year ago. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $2.04, for the quarter. Analysts' estimates typically exclude special items. Net income increased to $164.1 million or $1.96 per share from $150.5 million or $1.79 per share.

Net sales increased 19.8% to $2.07 billion. Analysts expected revenue of $1.98 billion, for the quarter. Sales growth ex. currency was 17.0%. Organic sales growth was 13.9%, for the quarter.