Avery Dennison Trims FY23 Outlook As Q1 Profit Declines

RTTNews | 777 dni temu
Avery Dennison Trims FY23 Outlook As Q1 Profit Declines

(RTTNews) - While reporting financial results for the first quarter on Wednesday, materials science company Avery Dennison Corp. (AVY) trimmed its adjusted earnings outlook for the full-year 2023.

For fiscal 2023, the company now projects earnings in a range of $8.35 to $8.70 per share and adjusted earnings in a range of $8.85 to $9.20 per share.

Previously, the company expected earnings in the range of $8.85 to $9.25 per share and adjusted earnings in a range of $9.15 to $9.55 per share.

On average, analysts expect the company to report earnings of $9.28 per share for the year, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

For the first quarter, net income declined to $121.2 million or $1.49 per share from $198.2 million or $2.39 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $1.70 per share, compared to $2.40 per share in the year-ago quarter.

Net sales for the quarter declined 12.1 percent to $2.07 billion from $2.35 billion in the same quarter last year. Organic sales declined 9.2 percent.

The Street was looking for earnings of $1.66 per share on sales of $2.18 billion for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
Avery Dennison Trims FY22 Adj. EPS Outlook - Update

Avery Dennison Trims FY22 Adj. EPS Outlook - Update

While reporting financial results for the third quarter on Wednesday, materials science company Avery Dennison Corp. (AVY) trimmed its adjusted earnings outlook for the full-year 2022.
RTTNews | 959 dni temu
U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

A closely watched report released by the Labor Department on Wednesday showed a slight increase by consumer prices in the U.S. in the month of May. The Labor Department said its consumer price index inched up by 0.1 percent in May after rising by 0.2 percent in April. Economists had expected another 0.2 percent increase.
RTTNews | 1g 12 minut temu
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

It's likely to be a mixed start for Canadian shares on Wednesday with investors reacting to the crucial U.S. consumer price inflation data, and the developments on the trade front where U.S. and Chinese official reached a framework to implement the Geneva consensus following two days of discussions in London.
RTTNews | 1g 59 minut temu
CAC 40 Drifts Lower In Cautious Trade

CAC 40 Drifts Lower In Cautious Trade

The French market is down in negative territory Wednesday afternoon, with stocks moving in a narrow range as investors await further details on U.S.-China trade talks, and the crucial inflation data from the U.S. later in the day.
RTTNews | 3g 8 minut temu
Euro Rises Amid Risk-on Mood

Euro Rises Amid Risk-on Mood

The euro strengthened against other major currencies in the European session on Wednesday amid increased risk-on mood, as investors monitored the latest updates from Sino-U.S. talks and awaited crucial U.S. inflation data for direction. After two days of discussions in London, U.S. and Chinese officials have agreed on a limited framework to put their trade truce back on track.
RTTNews | 4g 14 minut temu