MENTOR, Ohio (AP) — MENTOR, Ohio (AP) — Avery Dennison Corp. (AVY) on Wednesday reported first-quarter profit of $172.4 million.
On a per-share basis, the Mentor, Ohio-based company said it had net income of $2.13. Earnings, adjusted for non-recurring costs, came to $2.29 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.15 per share.
The maker of office products posted revenue of $2.15 billion in the period, meeting Street forecasts.
Avery Dennison expects full-year earnings in the range of $9 to $9.50 per share.
Avery Dennison shares have increased 4.5% since the beginning of the year, while the S&P’s 500 index has increased slightly more than 6%. The stock has increased 18% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVY at https://www.zacks.com/ap/AVY
