Avery Dennison said net income decreased from approximately $531 million in the first 9 months of 2024 to approximately $522 million in the first 9 months of 2025, citing the net impact of raw material deflation-related price reductions, higher provision for income taxes and growth investments as primary factors.

1. 01

   Avery Dennison said net income decreased from approximately $531 million in the first 9 months of 2024 to approximately $522 million in the first 9 months of 2025, citing the net impact of raw material deflation-related price reductions, higher provision for income taxes and growth investments as primary factors.

2. 02

   The company said it anticipates net sales in Q4 2025 will increase both sequentially and compared to the same period last year, citing favorable foreign currency translation, extra days resulting from its transition to a December fiscal year-end and its acquisition of W.F. Taylor Holdings, Inc.

3. 03

   Avery Dennison said net cash provided by operating activities decreased in the first 9 months of 2025 compared to the same period last year, citing higher incentive compensation payments, changes in operational working capital, higher tax payments, net of refunds, and higher trade rebate payments, partially offset by the prior-year settlement payment for the Adasa legal matter.

4. 04

   In September September 11, 2035, Avery Dennison issued €500 million of senior notes, due September 2025, which bear an interest rate of 4.000% per year, payable annually in arrears. The company said its net proceeds from this issuance, after deducting underwriting discounts and offering expenses, were approximately €494 million ($577 million), which it intends to use for general corporate purposes, including to finance acquisitions and repay existing indebtedness under its commercial paper program.

Key figures

Quarter ended September 27, 2025

Revenue

$2.2B

Net income

$166M

EPS

$2.13

Gross profit

$635M

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.

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

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