Avery Dennison Gears up to Report Q3 Earnings: What's in Store?

Core Viewpoint - Avery Dennison Corporation (AVY) is set to report its third-quarter 2024 results on October 23, with expectations of revenue growth and earnings increase compared to the previous year [1]. Financial Performance Expectations - The Zacks Consensus Estimate for AVY's third-quarter revenues is $2.18 billion, reflecting a 4.4$2.32 per share, indicating a year-over-year growth of 10.5% [1]. - The earnings estimate has remained unchanged over the past 60 days [1]. Earnings Surprise History - Avery Dennison has a history of beating Zacks Consensus Estimates, with an average surprise of 4% over the last four quarters [3]. Segment Performance Insights - The Materials Group segment is expected to see organic sales rise by 3.7% year-over-year, with projected revenues of $1.51 billion and an adjusted operating profit of$229.8 million, marking a 10.3% improvement [7]. - The Solutions Group segment is anticipated to grow organic sales by 5.8% year-over-year, with expected sales of $680 million and an operating profit of$70.5 million, indicating a 14.8% increase [8]. Stock Performance - Avery Dennison's shares have outperformed the industry, gaining 28.9% over the past year compared to the industry's growth of 23% [9].