Avery Dennison Corporation (AVY) SEC Filings & Earnings Calls
EquiReason read 12 Avery Dennison Corporation SEC filings in the last 12 months. Latest: 8-K on 2026-10-13 — Election of Helen J. Sheirbon as President, Solutions Group, effective November 3, 2026, with disclosed compensation package including base salary, incentives, and one-time awards..
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 13.8B
- P/E TTM
- 19.9
- Dividend yield
- 2.1%
- 52-week
- —
- Next earnings
- 29 Oct, in 5 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
5 Oct 20268-K · 5.02Chief Legal Officer Ignacio J. Walker resigns effective Oct 16, 2026 to accept another opportunity; routine departure with no disclosed impact on operations.open
Risks flagged
Loss of key legal leadership could create temporary gap in oversight.
“No successor named; departure for external opportunity.”
19 Aug 20268-K · 8.01Board elected William Wagner as independent Board Chair effective Sept 1, 2026, replacing Mitchell Butier. Patrick Siewert appointed Governance Committee Chair.open
Risks flagged
No material risk; routine governance transition.
“Orderly succession with experienced independent directors.”
4 Aug 202610-QNet sales $2.46B (+11% y/y); Net income $204M (+8% y/y); Adjusted free cash flow $470M (+246% y/y); Guidance: Favorable FX tailwind; higher interest expense; high-twenty percent tax rate; incremental restructuring savingsopen
Figures in the filing · each found in the filing text
| Net sales · Q2-2026 | $2.46B | +11% y/y |
| Net income · Q2-2026 | $204M | +8% y/y |
| Adjusted free cash flow · H1-2026 | $470M | +246% y/y |
| Net cash provided by operating activities · H1-2026 | $545M | +183% y/y |
| Materials Group organic sales change · Materials Group · Q2-2026 | 10.0% | |
| Solutions Group organic sales change · Solutions Group · Q2-2026 | 3.0% |
Guidance
Favorable FX tailwind; higher interest expense; high-twenty percent tax rate; incremental restructuring savings
Management expects favorable FX tailwind, incremental restructuring savings, but higher interest expense and tax rate. Demand appears strong based on Q2 organic growth.
Risks flagged
Tariff impact on demand
“We estimate that the indirect impact of tariffs resulted in an aggregate low single digit rate decrease in sales in our overall apparel categories over the second, third and fourth quarters of 2025.” · word for word
Geopolitical instability
“The recent conflicts involving the U.S., Israel and Iran have affected our operations in the Middle East, a region that represented approximately 2% of our net sales in 2025.” · word for word
30 Jul 20268-K · 2.02Q2 2026 net sales $2.5B (+10.9% reported, +7.6% organic), adjusted EPS $2.89 (+19.4%). Materials Group sales +15.9% (organic +9.7%), Solutions Group sales -0.5% (organic +2.6%). FY26 adjusted EPS guidance $10.00-10.30. Strong cash flow, shaearningsopen
Figures in the filing · each found in the filing text
| Net sales · Q2-2026 | $2.50B | +11% y/y |
| Organic sales change · Q2-2026 | 7.6% | |
| Reported EPS · Q2-2026 | $2.67 | |
| Adjusted EPS · Q2-2026 | $2.89 | +19% y/y |
| Materials Group reported sales · Materials Group · Q2-2026 | $1.80B | +16% y/y |
| Materials Group organic sales change · Materials Group · Q2-2026 | 9.7% | |
| Materials Group adjusted operating margin · Materials Group · Q2-2026 | 15.8% | |
| Materials Group adjusted EBITDA margin · Materials Group · Q2-2026 | 18.0% | |
| Solutions Group reported sales · Solutions Group · Q2-2026 | $667M | -1% y/y |
| Solutions Group organic sales change · Solutions Group · Q2-2026 | 2.6% |
Guidance
FY26 reported EPS $9.40-9.70; FY26 adjusted EPS $10.00-10.30
Strong Q2 results with raised guidance for FY26, reflecting confidence in continued momentum.
Risks flagged
Solutions Group reported sales decline of 0.5% may indicate underlying weakness despite organic growth.
“Solutions Group: Reported sales decreased 0.5% to $667 million.” · word for word
Higher employee-related costs partially offset productivity gains.
“productivity was partially offset by higher employee-related costs.” · word for word
Restructuring charges of $34M YTD impact near-term earnings.
“incurred approximately $34 million in pre-tax restructuring charges” · word for word
4 Jun 20268-K · 5.02Reported the departure of a director or principal officer (CEO/CFO change); filed financial statements and exhibits with this reportopen
Risks flagged
Leadership transition in key segment could cause short-term disruption
“Departure of President, Materials Group; internal successor with relevant experience”
5 May 202610-QNet Sales $2.30B (+7% y/y); Net Income $168M (+1% y/y); Adjusted Free Cash Flow $104M; Guidance: Favorable FX impact on full-year net sales and operating income; full-year effective tax rate in high-twenty percent rangeopen
Figures in the filing · each found in the filing text
| Net Sales · Q1-2026 | $2.30B | +7% y/y |
| Net Income · Q1-2026 | $168M | +1% y/y |
| Adjusted Free Cash Flow · Q1-2026 | $104M | |
| Organic Sales Change · Q1-2026 | 1.0% | |
| Materials Group Net Sales · Materials Group · Q1-2026 | $1.65B | +11% y/y |
| Solutions Group Net Sales · Solutions Group · Q1-2026 | $649M | -3% y/y |
| Materials Group Adjusted Operating Income · Materials Group · Q1-2026 | $254M | +10% y/y |
| Solutions Group Adjusted Operating Income · Solutions Group · Q1-2026 | $59M | -14% y/y |
| Gross Profit · Q1-2026 | $665M | +7% y/y |
| Operating Cash Flow · Q1-2026 | $137M |
Guidance
Favorable FX impact on full-year net sales and operating income; full-year effective tax rate in high-twenty percent range
Management reaffirms outlook with favorable FX tailwind, higher interest expense headwind, and incremental restructuring savings. No specific revenue or EPS guidance range provided.
Risks flagged
Tariff-related demand pressure
“The indirect impact on demand for our products and solutions as a result of these events, which have resulted in softer consumer volumes, continues to be uncertain and elevated.” · word for word
Raw material deflation pricing pressure
“partially offset by the impact of raw material deflation-related price reductions and unfavorable mix” · word for word
Higher employee-related costs
28 Apr 20268-K · 2.02Released earnings results and quarterly financials; filed financial statements and exhibits with this reportearningsopen
Risks flagged
Global economic conditions, tariffs, geopolitical uncertainty may impact demand.
“Risk factors: impact on underlying demand from global economic conditions, tariffs, geopolitical uncertainty.”
Raw material cost volatility and pricing power uncertainty.
“Risk factors: cost and availability of raw materials; degree to which higher costs can be offset with productivity or passed on.”
12 Mar 2026DEF 14ANet Sales $8.90B (+1% y/y); Reported EPS $8.79 (+1% y/y); Adjusted EPS $9.53 (+1% y/y); Guidance: 2024-2028 targets: Sales Change Ex. Currency 5%+, Adjusted EBITDA Growth 7.5%+, Adjusted EBITDA Margin 17%+ in 2028, Adjusted EPS Growth 10%,open
Figures in the filing · each found in the filing text
| Net Sales · FY2025 | $8.90B | +1% y/y |
| Reported EPS · FY2025 | $8.79 | +1% y/y |
| Adjusted EPS · FY2025 | $9.53 | +1% y/y |
| Net Cash Provided by Operating Activities · FY2025 | $881M | -6% y/y |
| Adjusted Free Cash Flow · FY2025 | $707M | +1% y/y |
| Net Income · FY2025 | $688M | -2% y/y |
| Return on Total Capital (ROTC) · FY2025 | 15.0% | |
| Adjusted EBITDA Margin · FY2025 | 16.4% | |
| Capital Expenditures · FY2025 | $200M | -16% y/y |
| Dividends Paid · FY2025 | $288M |
Guidance
2024-2028 targets: Sales Change Ex. Currency 5%+, Adjusted EBITDA Growth 7.5%+, Adjusted EBITDA Margin 17%+ in 2028, Adjusted EPS Growth 10%, ROTC Top Quartile
The company reaffirmed its long-term financial targets through 2028, expressing confidence in returning to stronger growth. Near-term priorities focus on profitable growth and cost leadership.
Risks flagged
Tariff and Trade Policy Risk
“Despite headwinds from tariff-related uncertainty and softer consumer sentiment, we leveraged our productivity playbook to maintain margins and generate substantial cash flow.” · word for word
Consumer Demand Slowdown
“Despite headwinds from tariff-related uncertainty and softer consumer sentiment, we leveraged our productivity playbook to maintain margins and generate substantial cash flow.” · word for word
Intelligent Labels Adoption Pace
“Addressing impact of uneven intelligent labels adoption – Executing key projects in pipeline, accelerating adoption in current and emerging market segments, and improving operational execution.” · word for word
Cybersecurity Risk
“Identified risks with the potential to have more significant impact at the enterprise level in 2025 included the macroeconomic environment, in particular tariff-related uncertainty, and cybersecurity.” · word for word
25 Feb 202610-KNet sales $8.86B (+1% y/y); Net income $688M (-2% y/y); Adjusted free cash flow $707M (+1% y/y); Guidance: FY2026 effective tax rate mid-twenty percent range; unfavorable impact from higher interest expense; favorable impact from FX translaopen
Figures in the filing · each found in the filing text
| Net sales · FY2025 | $8.86B | +1% y/y |
| Net income · FY2025 | $688M | -2% y/y |
| Adjusted free cash flow · FY2025 | $707M | +1% y/y |
| Net cash provided by operating activities · FY2025 | $881M | -6% y/y |
| Materials Group net sales · Materials Group · FY2025 | $6.09B | +1% y/y |
| Solutions Group net sales · Solutions Group · FY2025 | $2.76B | +1% y/y |
| Materials Group segment adjusted operating income · Materials Group · FY2025 | $922M | -0% y/y |
| Solutions Group segment adjusted operating income · Solutions Group · FY2025 | $286M | -1% y/y |
| Capital expenditures · FY2025 | $169M | -19% y/y |
| Dividends per share · FY2025 | $3.70 | +7% y/y |
Guidance
FY2026 effective tax rate mid-twenty percent range; unfavorable impact from higher interest expense; favorable impact from FX translation; incremental savings from restructuring
Management provided qualitative outlook for 2026: favorable FX impact, unfavorable higher interest expense, effective tax rate mid-twenty percent, incremental restructuring savings, and normalization of temporary cost savings. No explicit revenue or EPS guidance.
Risks flagged
Tariff indirect demand impact
“The indirect impact of tariffs resulted in an aggregate low single digit rate decrease in sales in our overall apparel categories over the second, third and fourth quarters of 2025.” · word for word
Raw material deflation-related price reductions
“In 2025, net sales on an organic basis were comparable to the prior year, reflecting the impact of higher volume offset by the impact of raw material deflation-related price reductions.” · word for word
Customer bankruptcy risk
“In January 2026, a large customer of our Materials Group reportable segment filed for prepackaged Chapter 11 bankruptcy protection; we currently expect to collect on our prepetition outstanding receivables from this customer.” · word for word
4 Feb 20268-K · 2.02Net sales $8.90B (+1% y/y); Net sales $2.30B (+4% y/y); Reported EPS $8.79; Guidance: Q1 2026 adjusted EPS guidance $2.40-2.46 vs Q4 2025 adjusted EPS $2.45earningsopen
Figures in the filing · each found in the filing text
| Net sales · FY2025 | $8.90B | +1% y/y |
| Net sales · Q4-2025 | $2.30B | +4% y/y |
| Reported EPS · FY2025 | $8.79 | |
| Adjusted EPS · FY2025 | $9.53 | +1% y/y |
| Reported EPS · Q4-2025 | $2.15 | |
| Adjusted EPS · Q4-2025 | $2.45 | +3% y/y |
| Adjusted EBITDA margin · FY2025 | 16.4% | |
| Adjusted free cash flow · FY2025 | $700M | |
| Materials Group reported sales · Materials Group · Q4-2025 | $1.50B | +5% y/y |
| Solutions Group reported sales · Solutions Group · Q4-2025 | $724M | +2% y/y |
Guidance
Q1 2026 adjusted EPS guidance $2.40-2.46 vs Q4 2025 adjusted EPS $2.45
Q1 2026 adjusted EPS guidance $2.40-2.46, roughly in line with Q4 2025; implies stable demand and margins.
Risks flagged
Tariff-related impacts and softer consumer volumes affecting demand.
“Despite tariff-related impacts and softer consumer volumes, the team successfully leveraged productivity.” · word for word
Deflation-related price reductions pressuring revenue growth.
“Low single digit volume/mix growth was more than offset by deflation-related price reductions.” · word for word
28 Oct 202510-QNet sales $2.22B (+1% y/y); Net income $166M (-8% y/y); Adjusted free cash flow $404M (-4% y/y); Guidance: Expects Q4 net sales increase from FX, extra days, and acquisition; full year effective tax rate mid-twenty percent rangeopen
Figures in the filing · each found in the filing text
| Net sales · Q3-2025 | $2.22B | +1% y/y |
| Net income · Q3-2025 | $166M | -9% y/y |
| Adjusted free cash flow · 9M-2025 | $405M | -4% y/y |
| Net cash provided by operating activities · 9M-2025 | $505M | -14% y/y |
| Net income per common share, assuming dilution · Q3-2025 | $2.13 | -5% y/y |
| Segment adjusted operating income - Materials Group · Materials Group · Q3-2025 | $230M | +4% y/y |
| Segment adjusted operating income - Solutions Group · Solutions Group · Q3-2025 | $70M | -10% y/y |
| Organic sales change - Solutions Group · Solutions Group · Q3-2025 | 4.0% | |
| Organic sales change - Materials Group · Materials Group · Q3-2025 | -1.0% | |
| Effective tax rate · Q3-2025 | 29.2% |
Guidance
Expects Q4 net sales increase from FX, extra days, and acquisition; full year effective tax rate mid-twenty percent range
Guidance is qualitative: expects Q4 net sales increase from FX, extra days, and acquisition; full year effective tax rate mid-twenty percent range; anticipates continued tariff uncertainty.
Risks flagged
Tariff indirect demand impact
“We estimate that the indirect impact of tariffs resulted in an aggregate low single digit rate decrease in sales in our overall apparel categories over the second and third quarters of 2025.” · word for word
Trade policy uncertainty
“We anticipate continued uncertainty related to trade policy and the macroeconomic environment.” · word for word
Avery Dennison Corporation — questions
- What did Avery Dennison Corporation file recently?
- 12 SEC filings in the last 12 months. Latest: 8-K on 2026-10-13 — Election of Helen J. Sheirbon as President, Solutions Group, effective November 3, 2026, with disclosed compensation package including base salary, incentives, and one-time awards.
Every figure on this page comes from Avery Dennison Corporation's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.