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AVY - Avery Dennison News Story

$193.64 -2.9  -1.5%

Last Trade - 13/04/21

Sector
Basic Materials
Size
Large Cap
Market Cap £11.88bn
Enterprise Value £13.23bn
Revenue £5.07bn
Position in Universe 685th / 6841

BRIEF-Avery Dennison Announces Q2 Adjusted Non-Gaap Earnings Per Share $1.27

Mon 27th July, 2020 12:25pm
July 27 (Reuters) - Avery Dennison Corp  AVY.N :
    * AVERY DENNISON ANNOUNCES SECOND QUARTER 2020 RESULTS
    * Q2 ADJUSTED NON-GAAP EARNINGS PER SHARE $1.27
    * Q2 EARNINGS PER SHARE $0.95
    * Q2 SALES $1.53 BILLION VERSUS REFINITIV IBES ESTIMATE OF
$1.52
BILLION
    * Q2 EARNINGS PER SHARE ESTIMATE $1.13 -- REFINITIV IBES
DATA
    * ANTICIPATE Q3 SALES DECLINE EX. CURRENCY OF 5% TO 7%
    * ANTICIPATE Q3 SALES DECLINE EX. CURRENCY OF 5% TO 7%
    * "OUR STRATEGIC PRIORITIES ARE UNCHANGED"
    * ALL MANUFACTURING SITES IMPACTED BY GOVERNMENT-MANDATED
CLOSURES
ARE NOW OPEN
    * AVERY DENNISON - CURRENTLY EXPECTS SALES AND EARNINGS TO
DECLINE
IN 2020 ON LOWER DEMAND, WITH Q2 REPRESENTING TROUGH
    * TARGETING TO DELIVER FREE CASH FLOW OF ABOUT $500 MILLION
IN
2020
    * ESTIMATES INCREMENTAL SAVINGS FROM RESTRUCTURING ACTIONS
OF $60
MILLION TO $70 MILLION DURING 2020
    * ANTICIPATES CARRYOVER SAVINGS OF APPROXIMATELY $70 MILLION
IN
2021
    * Q3 REVENUE VIEW $1.63 BILLION -- REFINITIV IBES DATA

Source text for Eikon:  ID:nBw9Dzxbja 
Further company coverage:  AVY.N 

 ((Reuters.Briefs@thomsonreuters.com;))
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