Avery Dennison (AVY) Beats Q3 Earnings Estimates

Company Performance - Avery Dennison reported quarterly earnings of $2.33 per share, exceeding the Zacks Consensus Estimate of $2.32 per share, and up from $2.10 per share a year ago, representing an earnings surprise of 0.43% [1] - The company posted revenues of $2.18 billion for the quarter ended September 2024, which missed the Zacks Consensus Estimate by 0.55%, compared to $2.1 billion in the same quarter last year [1] - Over the last four quarters, Avery Dennison has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [1] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $2.38 on revenues of $2.19 billion, and for the current fiscal year, it is $9.46 on revenues of $8.79 billion [4] - The estimate revisions trend for Avery Dennison is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Industry Context - The Office Supplies industry, to which Avery Dennison belongs, is currently in the bottom 25% of the Zacks Industry Rank, which may negatively impact stock performance [5] - Xerox Holdings Corporation, another company in the same industry, is expected to report quarterly earnings of $0.53 per share, reflecting a year-over-year change of +15.2%, with revenues anticipated to be $1.6 billion, down 3.4% from the previous year [5]