Avery Dennison (NYSE: AVY ) reported earnings on Oct. 24. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 29 (Q3), Avery Dennison met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted and GAAP earnings per share increased significantly.
Margins grew across the board.
Avery Dennison notched revenue of $1.49 billion. The seven analysts polled by S&P Capital IQ expected to see revenue of $1.48 billion on the same basis. GAAP reported sales were 12% lower than the prior-year quarter's $1.70 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.53. The nine earnings estimates compiled by S&P Capital IQ forecast $0.45 per share. GAAP EPS of $0.57 for Q3 were 21% higher than the prior-year quarter's $0.47 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 26.3%, 70 basis points better than the prior-year quarter. Operating margin was 6.6%, 20 basis points better than the prior-year quarter. Net margin was 3.9%, 100 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.45 billion. On the bottom line, the average EPS estimate is $0.48.
Next year's average estimate for revenue is $5.97 billion. The average EPS estimate is $1.96.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 103 members out of 131 rating the stock outperform, and 28 members rating it underperform. Among 56 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 51 give Avery Dennison a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Avery Dennison is hold, with an average price target of $32.83.
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