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BRIEF-Avery Dennison posts Q1 adj. earnings per share $1.11
April 26, 2017 / 11:07 AM / 5 months ago

BRIEF-Avery Dennison posts Q1 adj. earnings per share $1.11

April 26 (Reuters) - Avery Dennison Corp

* Avery Dennison announces first quarter 2017 results

* Q1 sales $1.57 billion versus I/B/E/S view $1.53 billion

* Q1 earnings per share $1.25

* Q1 earnings per share view $1.04 -- Thomson Reuters I/B/E/S

* Avery Dennison Corp - raised FY17 guidance midpoint for reported EPS by $0.08

* Avery Dennison Corp - raised FY17 guidance midpoint for adjusted EPS by $0.18

* Avery Dennison Corp - now expects 2017 reported earnings per share of $4.20 to $4.35

* Avery Dennison Corp says expects previously announced acquisition of Yongle Tape to close in middle of this year

* Avery Dennison Corp - now expects adjusted earnings per share (non-GAAP) of $4.50 to $4.65 for FY

* FY2017 earnings per share view $4.44 -- Thomson Reuters I/B/E/S

* Avery Dennison Corp - in Q1, company realized approximately $11 million in pre-tax savings from restructuring, net of transition costs

* Avery Dennison Corp - qtrly organic sales growth of about 4 pct

* Avery Dennison Corp - in Q1, company incurred pre-tax restructuring charges of approximately $6 million, all of which represent cash charges

* Q1 adjusted non-GAAP earnings per share $1.11 Source text for Eikon: Further company coverage:

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