Short answer
Avery Dennison (AVY) filed its Q3 2025 10-Q quarterly report on Oct 28, 2025 for the quarter ended Sep 27, 2025. Quarterly revenue was $2.2B (up 1.5% year over year) with net income of $166M.
Q3 2025 key financials · XBRL
- Revenue
- $2.2B
- +1.5% YoY · −0.2% QoQ
- Net income
- $166M
- −8.5% YoY · −12.0% QoQ
- Gross margin
- 28.7%
- EPS (diluted)
- $2.14
- −4.9% YoY · −11.2% QoQ
Source: XBRL data from the Avery Dennison (AVY) Q3 2025 10-Q on SEC EDGAR. USD.
Avery Dennison Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $2,215.5M Q3 2025, up 1.5% YoY from $2,183.4M; 9M sales $6.58B flat YoY vs $6.57B with organic sales comparable
- Operating margin Q3 2025: Materials Group 15.2% vs 14.8% YoY; Solutions Group earnings down $69.7M vs $77.4M YoY
- Best segment: Materials Group adj. operating income up to $230.1M Q3 from $222.2M; worst segment: Solutions Group adj. operating income down to $69.7M from $77.4M
- Operating cash flow 9M $504.6M down from $587.6M YoY; adjusted free cash flow $404.5M down from $420.0M driven by higher incentive payments and operational working capital changes
- Management notes tariff-related apparel sales decline low single digit in Q2-Q3, expects Q4 sales growth from currency, extra fiscal days, and acquisition; effective tax rate increased to 29.2% Q3 from 24.1% YoY; raised dividend 7% and authorized $750M share repurchase program
Risk Factors
- New risk: 2025 US-EU trade deal framework sets 15% baseline tariff on most EU imports, raising trade uncertainty and potential costs
- Updated risk: Indirect tariff effects lowered apparel category sales by low single-digit percentage in Q2 and Q3 2025, reflecting trade tensions impact
- Regulatory risk: Reciprocal tariffs imposed by US, Canada, Mexico, China, and EU; ongoing negotiations could alter trade agreements and tariff rates significantly
- Operational risk: Ongoing Russia-Ukraine and Israel-Hamas wars disrupted operations and sales, with Israel sales under 1% of net sales in 2024
- Market risk: Macroeconomic pressures from inflation, labor shortages, and geopolitical unrest leading to lower consumer spending and currency volatility
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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