Jun 2026 (Q2 FY26) — Jul 30, 2026
Avery Dennison Q2 FY26 — Strong Sales and Earnings Growth with Intelligent Labels Momentum
Read the full callAvery Dennison (AVY) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Avery Dennison earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,463 | +10.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 204 | +8.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
25 of 34 judged targets kept · 25 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted EPS | $2.43 to $2.53 | Mar 2026 | In the second quarter, we delivered strong adjusted earnings per share of $2.89, up 19% compared to prior year. | Achieved |
| EPS benefit from currency, share count, tax, and interest | approximate $0.25 | Dec 2025 | a net benefit of approximately $0.30 from combined currency, share count, interest and tax. | Revised Up |
| Adjusted EPS | $10 to $10.30 | Jun 2026 | For the full year 2026, we anticipate $10 to $10.30 in adjusted earnings per share | New |
9 of Avery Dennison Corp's 59 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 56 more targets are in the full ledger.
Claimed
- Organic sales growth accelerated to 8% year-over-year.
- Adjusted EBITDA margins expanded by 50 basis points to 17.1% in the quarter.
- Adjusted EPS grew by 19% year-over-year to $2.89.
- Adjusted free cash flow generation was strong at more than $360 million.
- Materials Group delivered robust organic sales growth of 10%, driven by high single-digit volume mix growth.
Qualified
- Customer inventory pre-buys contributed an estimated $0.25 to Q2 EPS, with an anticipated $0.50 sequential headwind in Q3 due to destocking.
- The Intelligent Labels logistics segment experienced a double-digit sales decline due to difficult prior-year comparisons and softer demand.
- High single-digit year-over-year raw material inflation is anticipated for the second half of FY26.
Price
$175.56 +0.14% · +$0.25
Performance +10.1% 1Y
1Y: $159.44 on 17 Oct 2025 → $175.56. High $197.45 (24 Feb 2026), low $153.01 (8 Jun 2026).
- Previous close
- $175.31
- 52-week range
- $153.01 – $197.45
- One year
- +9.55%
Overview
- Symbol
- AVY
- Sector
- Consumer Discretionary
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
25 of 34 judged targets kept · 25 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted EPS | $2.43 to $2.53 | Mar 2026 | In the second quarter, we delivered strong adjusted earnings per share of $2.89, up 19% compared to prior year. | Achieved |
| EPS benefit from currency, share count, tax, and interest | approximate $0.25 | Dec 2025 | a net benefit of approximately $0.30 from combined currency, share count, interest and tax. | Revised Up |
| Adjusted EPS | $10 to $10.30 | Jun 2026 | For the full year 2026, we anticipate $10 to $10.30 in adjusted earnings per share | New |
Claimed
- Organic sales growth accelerated to 8% year-over-year.
- Adjusted EBITDA margins expanded by 50 basis points to 17.1% in the quarter.
- Adjusted EPS grew by 19% year-over-year to $2.89.
- Adjusted free cash flow generation was strong at more than $360 million.
- Materials Group delivered robust organic sales growth of 10%, driven by high single-digit volume mix growth.
Qualified
- Customer inventory pre-buys contributed an estimated $0.25 to Q2 EPS, with an anticipated $0.50 sequential headwind in Q3 due to destocking.
- The Intelligent Labels logistics segment experienced a double-digit sales decline due to difficult prior-year comparisons and softer demand.
- High single-digit year-over-year raw material inflation is anticipated for the second half of FY26.
The full ledger
Open Avery Dennison Corp’s full ledger
A free account opens 5 company ledgers a month. All 59 tracked commitments, with each call’s wording and source.
Call summaries
Every analysed call
Avery Dennison earnings calls (AVY)
Financials
What the filings say
Net profit, year on year: +8% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,183 | 2,186 | 2,148 | 2,221 | 2,216 | 2,271 | 2,299 | 2,463 |
| Interest | 30 | 29 | 31 | 34 | 33 | 37 | 36 | 36 |
| Profit before tax | 239 | 241 | 227 | 256 | 235 | 208 | 240 | 283 |
| Tax rate | 24.1% | 27.9% | 26.7% | 26.0% | 29.2% | 19.9% | 30.1% | 27.8% |
| Net profit | 182 | 174 | 166 | 189 | 166 | 166 | 168 | 204 |
| EPS ($ per share) | 2.26 | — | 2.10 | 2.42 | 2.13 | — | 2.19 | 2.67 |
| Line item | Dec 2018 | Dec 2019 | Jan 2021 | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 124 | 124 | 124 | 124 | 124 | 124 | 124 | 124 |
| Reserves | 2,865 | 2,979 | 3,349 | 3,881 | 4,415 | 4,692 | 5,151 | 5,598 |
| Total liabilities | 4,222 | 4,285 | 4,599 | 6,047 | 5,918 | 6,082 | 6,092 | 6,560 |
| Fixed assets | 1,137 | 1,211 | 1,344 | 1,478 | 1,540 | 1,626 | 1,587 | 1,608 |
| Total assets | 5,178 | 5,489 | 6,084 | 7,972 | 7,951 | 8,210 | 8,404 | 8,802 |
| Line item | Dec 2018 | Dec 2019 | Jan 2021 | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 458 | 747 | 751 | 1,047 | 961 | 826 | 939 | 881 |
| Cash from investing | -232 | -251 | -554 | -1,738 | -333 | -459 | -243 | -596 |
| Cash from financing | -208 | -470 | -208 | 604 | -615 | -317 | -576 | -415 |
| Net cash flow | 8 | 22 | -1 | -90 | 5 | 48 | 114 | -126 |
| Capital expenditure | -227 | -219 | -201 | -255 | -278 | -265 | -209 | -169 |
| Free cash flow | 231 | 527 | 550 | 792 | 683 | 561 | 730 | 712 |
AVY revenue by segment
Materials Group grew from 69% to 73% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Materials Group | 69% | 67% | 69% | 70% | 68% | 68% | 72% | 73% | +15.9% |
| Solutions Group | 31% | 33% | 31% | 30% | 32% | 32% | 28% | 27% | -0.5% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- Europe The Middle East and North Africa 27%
- North America 23%
- Asia Pacific 18%
- Latin America 5%
As AVY cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
127 filings between Feb 6, 2026 and Sep 15, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$21.20M
26 sales by 3 insiders
88% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 53
- Option exercise — converted options into shares
- 46
- Tax withheld — shares kept back by the company to cover tax
Also filed: 2 I filings.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Butier Mitchell R | — | $20.02M | Mar 12, 2026 |
| Colisto Nicholas | — | $663.3K | Sep 15, 2026 |
| Walker Ignacio J | — | $522.0K | Aug 4, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 15, 2026 | Colisto Nicholas SVP & CIO | Sale | 3,886 | $663.3K |
| Aug 14, 2026 | Butier Mitchell R Director | Code I | 2,185 | $390.9K |
| Aug 13, 2026 | Butier Mitchell R Director | Code I | 2,185 | $393.2K |
| Aug 4, 2026 | Walker Ignacio J SVP and Chief Legal Officer | Sale | 1,742 | $298.9K |
| Jul 23, 2026 | Flitman David E Director | Option exercise | 765 | $119.4K |
| May 1, 2026 | Siewert Patrick Director | Tax withheld | 327 | $53.6K |
| May 1, 2026 | Reverberi Francesca Director | Option exercise | 1,087 | $178.3K |
| May 1, 2026 | Wagner William Raymond Director | Option exercise | 1,087 | $178.3K |
| May 1, 2026 | Alford Bradley A Director | Option exercise | 1,087 | $178.3K |
| May 1, 2026 | Reverberi Francesca Director | Tax withheld | 327 | $53.6K |
| May 1, 2026 | Lopez Andres Alberto Director | Option exercise | 1,087 | $178.3K |
| May 1, 2026 | Butier Mitchell R Director | Option exercise | 1,763 | $289.1K |
| May 1, 2026 | Dickson Ward H. Director | Option exercise | 1,087 | $178.3K |
| May 1, 2026 | Siewert Patrick Director | Option exercise | 1,087 | $178.3K |
| May 1, 2026 | MEJIA MARIA FERNANDA Director | Option exercise | 1,087 | $178.3K |
| Mar 12, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 2,977 | $511.5K |
| Mar 12, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 3,027 | $522.7K |
| Mar 12, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 857 | $148.7K |
| Mar 12, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 4,979 | $849.9K |
| Mar 12, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 1,160 | $196.9K |
| Mar 11, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 13,404 | $2.33M |
| Mar 11, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 4,123 | $714.0K |
| Mar 11, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 2,473 | $431.6K |
| Mar 10, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 6,424 | $1.13M |
| Mar 10, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 7,283 | $1.28M |
| Mar 10, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 4,699 | $820.1K |
| Mar 10, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 1,594 | $282.1K |
| Mar 9, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 9,035 | $1.59M |
| Mar 9, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 375 | $66.6K |
| Mar 9, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 4,365 | $763.8K |
| Mar 9, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 6,225 | $1.10M |
| Mar 6, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 7,006 | $1.26M |
| Mar 6, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 50 | $9.1K |
| Mar 6, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 12,944 | $2.32M |
| Mar 5, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 2,543 | $472.9K |
| Mar 5, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 5,863 | $1.08M |
| Mar 5, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 961 | $179.2K |
| Mar 5, 2026 | Butier Mitchell R Director | Sale 10b5-1 plan | 10,633 | $1.95M |
| Mar 1, 2026 | Allouche Danny Gilad SVP & CSDO | Option exercise | 791 | $154.1K |
| Mar 1, 2026 | Allouche Danny Gilad SVP & CSDO | Tax withheld | 239 | $46.6K |
| Mar 1, 2026 | Allouche Danny Gilad SVP & CSDO | Option exercise | 590 | $114.9K |
| Mar 1, 2026 | Allouche Danny Gilad SVP & CSDO | Option exercise | 236 | $46.0K |
| Mar 1, 2026 | Allouche Danny Gilad SVP & CSDO | Tax withheld | 142 | $27.7K |
| Mar 1, 2026 | Allouche Danny Gilad SVP & CSDO | Option exercise | 352 | $68.6K |
| Mar 1, 2026 | Allouche Danny Gilad SVP & CSDO | Tax withheld | 202 | $39.3K |
| Mar 1, 2026 | Allouche Danny Gilad SVP & CSDO | Tax withheld | 91 | $17.7K |
| Mar 1, 2026 | Allouche Danny Gilad SVP & CSDO | Option exercise | 466 | $90.8K |
| Mar 1, 2026 | Colisto Nicholas SVP & CIO | Tax withheld | 191 | $37.2K |
| Mar 1, 2026 | Colisto Nicholas SVP & CIO | Option exercise | 782 | $152.3K |
| Mar 1, 2026 | Colisto Nicholas SVP & CIO | Tax withheld | 105 | $20.5K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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