Adhesive manufacturing company Avery Dennison (NYSE:AVY) will be reporting earnings tomorrow morning. Here’s what to look for.
Avery Dennison met analysts’ revenue expectations last quarter, reporting revenues of $2.19 billion, up 3.6% year on year. It was a slower quarter for the company, with full-year EPS guidance missing analysts’ expectations.
Is Avery Dennison a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Avery Dennison’s revenue to be flat year on year at $2.15 billion, slowing from the 4.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.31 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Avery Dennison has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Avery Dennison’s peers in the industrials segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Lindsay delivered year-on-year revenue growth of 23.5%, beating analysts’ expectations by 4%, and Insteel reported revenues up 26.1%, topping estimates by 7.2%. Lindsay traded down 8% following the results, while Insteel was up 13.9%.
Read our full analysis of Lindsay’s results here and Insteel’s results here.
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