Avery Dennison said net income for Q1 2025 decreased to approximately $166 million from approximately $172 million in Q1 2024. The company cited the net impact of raw material deflation-related price reductions, losses on venture and other investments, and unfavorable foreign currency translation as factors in the decrease.

10-QQuarterly reportFiled Apr 29, 2025Period of report Mar 29, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Avery Dennison said net income for Q1 2025 decreased to approximately $166 million from approximately $172 million in Q1 2024. The company cited the net impact of raw material deflation-related price reductions, losses on venture and other investments, and unfavorable foreign currency translation as factors in the decrease.
Avery Dennison said net cash provided by operating activities and adjusted free cash flow for Q1 2025 decreased compared to the same period last year. The company cited higher incentive compensation payments and trade rebates and changes in operational working capital as factors in the decrease in operating cash flow, with lower tax payments, net of refunds, partially offsetting these items.
Avery Dennison said it repaid €500 million of senior notes that matured in Q1 2025 using the net proceeds from €500 million of senior notes issued in Q4 2024, cash flows from operations and commercial paper borrowings. The carrying value of total debt increased by approximately $307 million in the period to $3.46 billion.
Avery Dennison said it paid dividends of $0.88 per share for Q1 2025 and increased its quarterly dividend rate to $0.94 per share in April 2025, representing an increase of approximately 7% from the previous quarterly dividend rate. The company also said its Board authorized in April the repurchase of shares with a fair market value of up to $750 million.

Key figures

Quarter ended March 29, 2025

Revenue: $2.1B
Net income: $166M
EPS: $2.09
Gross profit: $622M
Operating cash flow: −$16M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net income decrease and factors cited by the company

Avery Dennison said net income for Q1 2025 decreased to approximately $166 million from approximately $172 million in Q1 2024. The company cited the net impact of raw material deflation-related price reductions, losses on venture and other investments, and unfavorable foreign currency translation as factors in the decrease.

Source · Based on the MD&A text of the filing

Net cash provided by operating activities and adjusted free cash flow decrease

Avery Dennison said net cash provided by operating activities and adjusted free cash flow for Q1 2025 decreased compared to the same period last year. The company cited higher incentive compensation payments and trade rebates and changes in operational working capital as factors in the decrease in operating cash flow, with lower tax payments, net of refunds, partially offsetting these items.

Source · Based on the MD&A text of the filing

Repayment of €500 million senior notes and increase in total debt

Avery Dennison said it repaid €500 million of senior notes that matured in Q1 2025 using the net proceeds from €500 million of senior notes issued in Q4 2024, cash flows from operations and commercial paper borrowings. The carrying value of total debt increased by approximately $307 million in the period to $3.46 billion.

Source · Based on the MD&A text of the filing

Dividend increase and Board authorization for $750 million share repurchase

Avery Dennison said it paid dividends of $0.88 per share for Q1 2025 and increased its quarterly dividend rate to $0.94 per share in April 2025, representing an increase of approximately 7% from the previous quarterly dividend rate. The company also said its Board authorized in April the repurchase of shares with a fair market value of up to $750 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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