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AVY - Avery Dennison News Story

$196.54 -0.6  -0.3%

Last Trade - 12/04/21

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 Third Quarter 2020 Earnings Per Share $1.79

Wed 21st October, 2020 11:48am
Oct 21 (Reuters) - Avery Dennison Corp  AVY.N :
    * AVERY DENNISON ANNOUNCES THIRD QUARTER 2020 RESULTS
    * Q3 ADJUSTED NON-GAAP EARNINGS PER SHARE $1.91
    * Q3 EARNINGS PER SHARE $1.79
    * Q3 SALES $1.73 BILLION VERSUS REFINITIV IBES ESTIMATE OF
$1.7
BILLION
    * Q3 EARNINGS PER SHARE ESTIMATE $1.53 -- REFINITIV IBES
DATA
    * RESUMED SHARE REPURCHASE LATE IN Q3
    * CURRENTLY EXPECTS SALES TO DECLINE IN 2020 ON LOWER
DEMAND, WITH
Q2 REPRESENTING TROUGH
    * AVERY DENNISON - CONTINUES TO ESTIMATE INCREMENTAL SAVINGS
FROM
RESTRUCTURING ACTIONS, NET OF TRANSITION COSTS, OF $60 MILLION
TO $70 MILLION DURING 2020
    * ANTICIPATES THAT FY EARNINGS WILL EXCEED PRIOR YEAR.
    * COMPANY TARGETS NEARLY $150 MILLION IN NET TEMPORARY
SAVINGS IN
2020
    * CONTINUES TO ESTIMATE INCREMENTAL SAVINGS FROM CARRYOVER
SAVINGS, NET OF TRANSITION COSTS, OF ABOUT $70 MILLION IN 2021

Source text for Eikon:  ID:nBw8YD2Bxa 
Further company coverage:  AVY.N 

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