Inferra AI / Company / AVY
Avery Dennison
AVY · Materials
Last earnings Oct 29, 2026
Key results
Materials Group Reported revenuequarter
1.2%
Third Quarter 2025 Results by Segment Materials Group Reported sales increased 1.2% to $1.5 billion.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
Reported operating marginquarter
14.3%
Reported operating margin of 14.3% Adjusted operating margin (non-GAAP) of 15.2% was up 40 basis points.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
Adjusted operating marginquarter
15.2%
Reported operating margin of 14.3% Adjusted operating margin (non-GAAP) of 15.2% was up 40 basis points.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
Reported operating margin of 9.7% Adjusted operating margin of 10.0% was down 130 basis points.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
Operating marginquarter
12.7%
operating margin (non-GAAP) of 12.7%, down 10 bps Sales on an organic basis (non-GAAP) comparable to prior year Strong adj.
SEC original ↗Avery Dennison — Presentation / slide deck (8-K exhibit)EX-99Oct 22, 2025
Organic revenuequarter
2%
EBITDA ratio (non-GAAP) of 2.2 October 22, 2025 Preliminary & unaudited, Q3 2025 nancial review and analysis 5 Third quarter 2025 segment review Materials Group continues to deliver strong margins driven largely by productivity Organic sales down ~2% Volume/mix up modestly, which was more than offset by de ation-related price reductions Strong adj.
SEC original ↗Avery Dennison — Presentation / slide deck (8-K exhibit)EX-99Oct 22, 2025
Reported Adjusted Adjusted operating marginquarter
1.2%
Currency Organic 1.2% (1.9%) (1.9%) Materials Group 2.0% 3.6% 3.6% Solutions Group 1.5% (0.2%) (0.2%) Total Company Reported Adjusted Adjusted Operating Margin Operating Margin EBITDA Margin 3Q25 3Q24 3Q25 3Q24 3Q25 3Q24 Materials Group 14.3% 14.5% 15.2% 14.8% 17.5% 17.0% Solutions Group 9.7% 9.7% 10.0% 11.3% 17.0% 17.9% Total Company 11.9% 12.1% 12.7% 12.8% 16.5% 16.4% October 22, 2025 Preliminary & unaudited, Q3 2025 nancial review and analysis 10 Third Quarter 2025 Results Materials Group 2024 Sales by Product Reported sales increased 1.2% to $1.5 bil.
SEC original ↗Avery Dennison — Presentation / slide deck (8-K exhibit)EX-99Oct 22, 2025
MSD Reported operating marginquarter
14.3%
Intelligent Labels) and base down LSD Graphics and Re ectives down LSD; Performance Tapes and Medical down MSD Reported operating margin of 14.3% 2024 Sales by Geography Adj.
SEC original ↗Avery Dennison — Presentation / slide deck (8-K exhibit)EX-99Oct 22, 2025
operating margin of 15.2%, up 40 bps Adj.
SEC original ↗Avery Dennison — Presentation / slide deck (8-K exhibit)EX-99Oct 22, 2025
AI analysis
Q3 2025 · reported Oct 22, 2025
Based on: Earnings release + Q3 2025 deck + parent 8-K + 10-Q — transcript not held
Headline figures
| Metric | Q3 2025 | Prior qtr | Year ago |
|---|---|---|---|
| Materials Group Reported revenue | 1.2% | 0.2% | — |
| Reported operating margin | 14.3% | 16.1% | — |
| Adjusted operating margin | 15.2% | 16.1% | — |
| Operating margin | 12.7% | 16.1% | — |
| Organic revenue | 2% | 1% | — |
| Reported Adjusted Adjusted operating margin | 1.2% | 16.1% | — |
| MSD Reported operating margin | 14.3% | 16.1% | — |
Guidance · company-stated
“of $2.15 to $2.25”
“of $2.35 to $2.45”
Guidance stated in the release for fourth quarter 2025; figures as stated.
Margin
Capital allocation
Other Balance Sheet and Capital Deployment Through the first three quarters of 2025, the company returned $670 million in cash to shareholders through a combination of share repurchases and dividends.
The company repurchased 2.5 million shares at an aggregate cost of $454 million through the third quarter.
Event summary
Non-GAAP financial measures referenced in this release are reconciled from GAAP in the attached financial schedules
Based on: Earnings release + Q3 2025 deck + parent 8-K + 10-Q — transcript not held
Guidance & outlook
earnings per share: “earnings per share of $2.15 to $2.25”
adjusted earnings per share: “adjusted earnings per share of $2.35 to $2.45”
earnings per share (“fourth quarter 2025”)
“Based on the factors listed and other assumptions, the company expects fourth quarter 2025 reported earnings per share of $2.15 to $2.25.”
adjusted earnings per share (“fourth quarter 2025”)
“Excluding an estimated ~$0.20 per share impact of restructuring charges and other items, the company expects fourth quarter 2025 adjusted earnings per share of $2.35 to $2.45.”
Guidance stated in the release for fourth quarter 2025; figures as stated.
Capital allocation
Other Balance Sheet and Capital Deployment Through the first three quarters of 2025, the company returned $670 million in cash to shareholders through a combination of share repurchases and dividends.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
The company repurchased 2.5 million shares at an aggregate cost of $454 million through the third quarter.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
Net debt to adjusted EBITDA (non-GAAP) was 2.2x at the end of the third quarter.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
In September, the company issued 500 million of 4.00% senior notes due 2035.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
, restructuring charges, outcomes of certain legal matters and settlements, certain effects of strategic transactions and related costs, losses from debt extinguishments, gains or losses from curtailment or settlement of pension obligations, gains or losses on sales of certain assets, gains or losses on venture and other investments, currency adjustments due to highly inflationary economies, and other items), we believe that we are providing meaningful supplemental information that facilitates an understanding of our core operating results and liquidity measures.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
Net debt to adjusted EBITDA ratio refers to total debt (including finance leases) less cash and cash equivalents, divided by adjusted EBITDA for the last twelve months.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
Strategy & priorities
We remain prepared for various scenarios while continuing to focus on our core strategies, including driving outsized growth in our high-value categories, leveraging cost controls and productivity, and executing on our disciplined capital allocation strategy.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
We made progress advancing these strategies in the third quarter, safeguarding earnings in the near term and driving initiatives to deliver strong profitable growth over the cycle.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
Once again, I extend my gratitude to our agile, engaged and talented team for their unwavering commitment to excellence, dedication to overcoming the challenges at hand and relentless focus on executing on our strategic priorities.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
The company continues to deploy capital in a disciplined manner, executing its long-term capital allocation strategy.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
Our non-GAAP financial measures exclude the impact of certain events, activities or strategic decisions.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
Risks & headwinds
Once again, I extend my gratitude to our agile, engaged and talented team for their unwavering commitment to excellence, dedication to overcoming the challenges at hand and relentless focus on executing on our strategic priorities.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
These forward-looking statements, and financial or other business targets, are subject to certain risks and uncertainties.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
These forward-looking statements, and nancial or other business targets, are subject to certain risks and uncertainties.
SEC original ↗Avery Dennison — Presentation / slide deck (8-K exhibit)EX-99Oct 22, 2025
PY Solutions Group delivered solid top-and bottom-line results despite continued uncertainty Organic sales up ~4%, driven by HSD growth in high-value categories Solid adj.
SEC original ↗Avery Dennison — Presentation / slide deck (8-K exhibit)EX-99Oct 22, 2025
, down LSD organically October 22, 2025 Preliminary & unaudited, Q3 2025 nancial review and analysis 6 Note: LSD/MSD/HSD = low, mid or high single digit % Trade policy continues to limit visibility Successfully offsetting direct tariff impacts Vast majority (~90%) of global material cost not subject to tariffs Apparel Categories Sales vs.
SEC original ↗Avery Dennison — Presentation / slide deck (8-K exhibit)EX-99Oct 22, 2025
PY Food & Logistics $0.9B Key End Market Insights All Other Apparel and General Retail: Tariff uncertainty still impacting business, particularly in general retail Food & Logistics: Sales vs.
SEC original ↗Avery Dennison — Presentation / slide deck (8-K exhibit)EX-99Oct 22, 2025
What changed vs prior quarter
Materials Group Reported revenue — prior quarter passage and this quarter's passage are both cited.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
Reported operating margin — prior quarter passage and this quarter's passage are both cited.
SEC original ↗Avery Dennison — Earnings release (8-K exhibit)EX-99Oct 22, 2025
Operating margin — prior quarter passage and this quarter's passage are both cited.
SEC original ↗Avery Dennison — Presentation / slide deck (8-K exhibit)EX-99Oct 22, 2025
Earnings deck slides
0 decks with slide viewAvery Dennison — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Avery Dennison — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Avery Dennison — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Avery Dennison — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Avery Dennison — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Avery Dennison — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Avery Dennison — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
33 documents- Q3 2026
- 8-KAVY
Oct 29, 2026
- 8-KAVY
Oct 13, 2026
- 8-KAVY
Oct 5, 2026
- Q2 2026
- 8-KAVY
Aug 19, 2026
- 10-QAVY
Aug 4, 2026
- 8-KAVY
Jul 30, 2026
- Q1 2026
- 8-KAVY
Jun 4, 2026
- EX-99AVY
Jun 4, 2026
- 10-QAVY
May 5, 2026
- 8-KAVY
May 1, 2026
- 8-KAVY
Apr 28, 2026
- Q4 2025
- 8-KAVY
Feb 26, 2026
- 10-KAVY
Feb 25, 2026
- 8-KAVY
Feb 4, 2026
- Q3 2025
- 10-QAVY
Oct 28, 2025
- 8-KAVY
Oct 22, 2025
- 8-KAVY
Oct 2, 2025
- Q2 2025
- 8-KAVY
Sep 11, 2025
- 10-QAVY
Jul 29, 2025
- 8-KAVY
Jul 24, 2025
- EX-99AVY
Jul 24, 2025
- 8-KAVY
Jul 22, 2025
- Q1 2025
- 10-QAVY
Apr 29, 2025
- 8-KAVY
Apr 28, 2025
- 8-KAVY
Apr 23, 2025
- Q4 2024
- 8-KAVY
Mar 31, 2025
- 10-KAVY
Feb 26, 2025
- 8-KAVY
Jan 30, 2025
- 8-KAVY
Jan 2, 2025
- Q3 2024
- 8-KAVY
Nov 15, 2024
- 8-KAVY
Nov 8, 2024
- 8-KAVY
Nov 4, 2024
- 10-QAVY
Oct 29, 2024
Earnings releases
10 documentsPresentations
7 documents
Transcripts
0 documentsNo transcripts for Avery Dennison are held in this edition of the library.
See also the earnings calendar for every tracked company’s next earnings date.