Avery Dennison Corporation (AVY) Earnings Call Transcripts

Avery Dennison Corporation's Latest Earnings Call - Q2 FY2026

In the second quarter of 2026, Avery Dennison Corporation (AVY:US) reported strong financial results, with revenue increasing by 11% year-over-year to $2.12 billion and adjusted EPS rising 19% to $2.89. Management highlighted an 8% organic sales growth, driven by customer inventory stocking and solid performance across both base and high-value categories. The company maintained its full-year guidance, projecting adjusted EPS of $10 to $10.30 and organic sales growth of 3% to 4%, indicating confidence in continued operational execution despite anticipated destocking pressures in the second half of the year.

Reported metrics

Guidance from management

Avery Dennison maintained its full-year guidance, projecting adjusted EPS of $10 to $10.30 and organic sales growth of 3% to 4%. Management indicated that the second half may see a sequential earnings decline due to customer destocking, estimating a $0.50 headwind in Q3.

What management said

And John, let me just reiterate on -- particularly in apparel and general retail, there was no impact of inventory stocking or building that Greg spoke about. Most of that growth was really driven by new program rollouts that we've had -- that we talked about in the past, and some of them are delivering as we go through the second quarter into the third and fourth quarter as well.

Thank you, Ellen. On behalf of everyone at Avery Dennison, I want to thank you all for joining today's call and for your continued interest in our company. As always, we're happy to address any follow-up questions you may have. Thank you again, and this concludes today's conference call.

What analysts pressed on

Analysts expressed concerns regarding the impact of customer inventory destocking on future sales, particularly in the Materials Group. There were also questions about the sustainability of margin expansion given inflationary pressures and the performance of the Solutions Group, which saw slower growth compared to the Materials Group.

Main topics on the call

• Strong Organic Sales Growth — Avery Dennison achieved 8% organic sales growth in Q2 2026, with management stating, "Our performance this quarter once again demonstrated the strength and the resilience of our portfolio." This growth was attributed to ...
• Customer Inventory Prebuys — Management noted that approximately half of the organic growth was driven by customer prebuy activity, contributing an estimated $0.25 to earnings. Deon Stander mentioned, "Customer prebuying persisted longer into the qu...
• Adjusted EBITDA Margin Expansion — The adjusted EBITDA margin expanded to 17.1%, up 50 basis points year-over-year, driven by strong volume and productivity. Gregory Lovins stated, "This margin expansion reflects strong volume, ongoing productivity action...
• Full-Year Guidance Maintained — Avery Dennison reaffirmed its full-year guidance for adjusted EPS of $10 to $10.30 and organic sales growth of 3% to 4%. Management expressed confidence, stating, "We remain focused on the key secular tailwinds shaping o...

Read the full Avery Dennison Corporation transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 47 Avery Dennison Corporation earnings call transcripts on record, spanning January 29, 2020 to July 30, 2026. Based on this history, Avery Dennison Corporation reports quarterly. The most recent call on file is dated July 30, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

AVY

Exchange

NYSE

Country

US

Sector

Materials

Industry

Containers and Packaging

Calls on record

47

First call

January 29, 2020

Most recent

July 30, 2026

Reporting cadence

quarterly