Avery Dennison Corp. Q2 Profit Increases, Beats Estimates

(RTTNews) - Avery Dennison Corp. (AVY) reported a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $176.8 million, or $2.18 per share. This compares with $100.4 million, or $1.24 per share, in last year's second quarter.

Excluding items, Avery Dennison Corp. reported adjusted earnings of $196.0 million or $2.42 per share for the period.

Analysts on average had expected the company to earn $2.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.2% to $2.24 billion from $2.09 billion last year.

Avery Dennison Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $176.8 Mln. vs. $100.4 Mln. last year. -EPS (Q2): $2.18 vs. $1.24 last year. -Revenue (Q2): $2.24 Bln vs. $2.09 Bln last year.

-Guidance: Full year EPS guidance: $9.30 to $9.50