Avery Dennison's Mixed Q3: Earnings Beat, Revenue Falls Short, Tightens Annual Outlook & More

Avery Dennison Corporation (NYSE:AVY) reported third-quarter adjusted earnings per share of $2.33, beating the street view of $2.32. Quarterly revenues of $2.18 billion missed the analyst consensus of $2.20 billion.

In the Materials Group, reported sales increased by 3% to $1.5 billion, with an operating margin of 14.5% and an adjusted EBITDA margin of 17.0%, which is comparable to the prior year.

In the Solutions Group, reported sales rose by 7% to $686 million, ...