Avery Dennison Corporation Lowers FY24 Guidance Range For Reported Earnings Per Share From $8.65-$9.15 To $8.60-$9.10
Portfolio Pulse from Benzinga Newsdesk
Avery Dennison Corporation has revised its FY24 earnings guidance downwards, adjusting the reported earnings per share (EPS) forecast from $8.65-$9.15 to $8.60-$9.10. However, the company maintains its adjusted EPS outlook of $9.00 to $9.50, excluding an estimated $0.40 per share impact from restructuring charges and other items.
April 24, 2024 | 10:52 am
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Avery Dennison Corporation has lowered its FY24 reported EPS guidance from $8.65-$9.15 to $8.60-$9.10, while maintaining its adjusted EPS forecast at $9.00-$9.50, excluding restructuring charges.
The downward revision of Avery Dennison's FY24 reported EPS guidance suggests a slight negative impact on investor sentiment and stock price in the short term. However, the maintenance of the adjusted EPS forecast indicates underlying business resilience, potentially mitigating some negative market reactions. The score reflects the initial negative impact of the guidance revision.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100