Investing.com - Avery Dennison (NYSE:AVY) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Avery Dennison announced earnings per share of $1.66 on revenue of $1.72B. Analysts polled by Investing.com anticipated EPS of $1.5 on revenue of $1.74B. That with comparison to EPS of $1.48 on revenue of $1.74B in the same period a year before.Avery Dennison had reported EPS of $1.73 on revenue of $1.77B in the previous quarter.Analysts are expecting EPS of $1.57 and revenue of $1.75B in the upcoming quarter.
Avery Dennison shares are down 12% from the beginning of the year and are trading at $114.68 , down-from-52-week-high.They are broadly in line with the S&P 500 which is down 11.75% year to date.
Avery Dennison follows other major Basic Materials sector earnings this month
Avery Dennison's report follows an earnings missed by Air Products on Thursday, April 23, 2020, who reported EPS of $2.04 on revenue of $2.22B, compared to forecasts EPS of $2.08 on revenue of $2.16B.
Southern Copper had missed expectations on Friday with first quarter EPS of $0.28 on revenue of $1.72B, compared to forecast for EPS of $0.35 on revenue of $1.67B.
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