EarningsQ2 2026 Earnings Report
MX:AVY Q2 2026 EPS Results
Actual EPS$48.88
Consensus EPS$41.76
Beat/MissBeat by +$7.12
One Year Ago EPS$40.93
MX:AVY Q2 2026 Revenue Results
Actual Revenue$41.65B
Expected Revenue$38.83B
Beat/MissBeat by +$2.82B
YoY Revenue Growth+10.92%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
MX:AVY Upcoming Earnings
Avery Dennison's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:AVY Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational and financial momentum (accelerating organic growth, 19% adjusted EPS growth, robust free cash flow, margin expansion, and reinstated full-year guidance) while flagging near-term cyclical headwinds from customer pre-buys/destocking, raw material inflation, and employee-related cost pressures. Management emphasized productivity, pricing, restructuring benefits (> $60 million), and capital discipline to offset these pressures and maintain confidence in achieving full-year targets.Company Guidance
Strong Organic Sales Growth
Organic sales grew 8% year-over-year in Q2 2026, reflecting acceleration versus prior periods and balanced growth across base and high-value categories.
Adjusted EPS and Profitability Expansion
Adjusted EPS was $2.89 in Q2, up 19% year-over-year; adjusted EBITDA margin expanded to 17.1%, up 50 basis points versus prior year.
Robust Free Cash Flow
Adjusted free cash flow was strong at $365 million in Q2, supporting capital returns and balance sheet strength.
Materials Group Outperformance
Materials Group delivered ~10% organic sales growth driven by high-single-digit volume/mix and low-single-digit pricing; adjusted EBITDA for the group grew ~17% year-over-year with ~20 basis points of margin expansion.
Solutions Group Margin Improvement
Solutions Group organic sales grew 3%; adjusted EBITDA margin expanded to 18.6%, up 150 basis points year-over-year and 220 basis points sequentially, driven by productivity and improving volumes.
Intelligent Labels Strength in Apparel & Retail
Enterprise Intelligent Labels sales were up low-single-digits overall; apparel and general retail grew ~10% year-over-year, led by program expansion and retail recovery.
Disciplined Capital Allocation
Returned over $210 million to shareholders in Q2 (approx. $76 million dividends and $138 million share repurchases); year-to-date capital returned ~$350 million. Net debt to adjusted EBITDA at quarter-end was 2.3x.
Full-Year 2026 Financial Framework Reinstated
Company provided full-year guidance: adjusted EPS $10.00–$10.30 (midpoint implying ~7% growth), organic sales growth 3%–4%, reported sales growth 5%–6%, and ~100% free cash flow conversion target with ~$260 million capex.
Productivity & Restructuring Benefits
Productivity actions and restructuring are material contributors, with expected restructuring benefits of more than $60 million helping offset wage and incentive cost pressures.
MX:AVY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed