Avery Dennison: Q3 Earnings Snapshot

MENTOR, Ohio (AP) — MENTOR, Ohio (AP) — Avery Dennison Corp. (AVY) on Thursday reported third-quarter profit of $169.7 million.

The Mentor, Ohio-based company said it had net income of $2.24 per share. Earnings, adjusted for restructuring costs and pretax expenses, were $2.42 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.30 per share.

The maker of office products posted revenue of $2.33 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $2.3 billion.

Avery Dennison expects full-year earnings in the range of $10.10 to $10.24 per share.

Avery Dennison shares have dropped almost 1% since the beginning of the year, while the S&P's 500 index has increased 13%. The stock has climbed nearly 1% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVY at https://www.zacks.com/ap/AVY