Analyst Consensus ?
ConsensusBuy16 ratings
Bullish1381.3%
Neutral318.7%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Avery Dennison Corporation · AVY · FY2024 Q2 · Calendar Q3 2024
Avery Dennison raises guidance as intelligent labels drive growth
The supplied analysis supports a constructive but conditional view: resilient volume growth, intelligent-label adoption and productivity initiatives are supporting earnings, while rollout timing, pricing pressure and macro risks could limit near-term execution.
Reported Before market openNYSEConsumer Cyclical
$13.78B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.42
Consensus $2.26
EPS surprise
+7.1%
Reported versus consensus
Reported revenue
$2.24B
Consensus $2.18B
Revenue surprise
+2.4%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-1.6%
Event window
SPY move
-0.2%
Same window
Abnormal move
-1.5%
Stock minus SPY
Volume
1.7×
Versus trailing sessions
Subsequent drift
-3.7%
Up to 20 sessions
AVYSPY benchmark
Ask FN2 about AVY FY2024 Q2
Transcript, numbers and history already loaded
Why did AVY fall 1.6% after beating EPS estimates in FY2024 Q2?What changed in AVY's guidance and outlook in FY2024 Q2?Give me the bull and bear case for AVY after FY2024 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The quarter's analysis indicates a $2.42 adjusted EPS result, stronger volume growth in Europe and Asia, continued intelligent-label adoption, and higher full-year EPS guidance. Compared with the prior quarter, management's focus shifted toward executing larger rollouts, margin improvement and savings, while rollout timing and deflationary pricing became more prominent concerns.
Guidance delta
Management raised full-year adjusted EPS guidance to $9.30-$9.50 from the prior $9-$9.50 range, with about 20% earnings growth targeted.
Key takeaways
- Adjusted EPS of $2.42 beat expectations and supported the guidance increase.
- Intelligent-label sales grew at a mid-teens rate, with management targeting more than 20% volume growth for the year.
- Europe and Asia led volume growth; North America was slightly below expectations.
- Management expects productivity initiatives to support margin improvement in Q3 and Q4.
- Some Q4 customer rollouts may be delayed, tempering near-term revenue growth.
Management priorities
- Expand intelligent-label platforms across logistics, food and quick-service restaurants.
- Scale RFID, Vestcom and other higher-value solutions.
- Deliver productivity and restructuring savings exceeding $50 million.
- Maintain disciplined capital allocation, including repurchases, dividend growth and selective acquisitions.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$181.83Current
$175Low
$208.29Average
$250High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Truist Securities | Buy | Buy | Maintain | Oct 12, 2026 |
| UBS | Buy | Buy | Maintain | Jul 31, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 31, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jul 31, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 14, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Feb 6, 2026 |
| Argus Research | Buy | Hold | Upgrade | Oct 28, 2025 |
| Raymond James | Outperform | Outperform | Maintain | Jul 15, 2025 |
| Barclays | Overweight | Overweight | Maintain | Apr 24, 2025 |
| Baird | Outperform | Outperform | Maintain | Apr 24, 2025 |
| Loop Capital | Buy | Buy | Maintain | Sep 21, 2023 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Aug 2, 2021 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Mar 17, 2021 |
| Bank of America | Buy | Neutral | Upgrade | Sep 13, 2019 |
| Keybanc | Overweight | Downgrade | Apr 8, 2019 | |
| Topeka Capital | Buy | Hold | Upgrade | Dec 12, 2014 |
| Topeka | Buy | Hold | Upgrade | Dec 12, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $181.83. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Analyst unavailable | $208 | $167.82 | +14.4% | Oct 12, 2026 |
| Jefferies | John Dunigan | $181 | $170.34 | -0.5% | Sep 28, 2026 |
| UBS | Joshua Spector | $225 | $171.18 | +23.7% | Jul 31, 2026 |
| Truist Financial | Analyst unavailable | $209 | $158.98 | +14.9% | Jul 15, 2026 |
| Argus Research | Analyst unavailable | $175 | $154.6 | -3.8% | Jun 4, 2026 |
| Truist Financial | Analyst unavailable | $221 | $163.74 | +21.5% | Apr 29, 2026 |
| Raymond James | Analyst unavailable | $192 | $172.12 | +5.6% | Apr 21, 2026 |
| UBS | Joshua Spector | $222 | $172.09 | +22.1% | Apr 10, 2026 |
| BMO Capital | Analyst unavailable | $224 | $192.88 | +23.2% | Feb 6, 2026 |
| UBS | Joshua Spector | $226 | $193.13 | +24.3% | Feb 5, 2026 |
| Truist Financial | Analyst unavailable | $234 | $180.54 | +28.7% | Jan 6, 2026 |
| Argus Research | Alexandra Yates | $200 | $180.52 | +10.0% | Oct 28, 2025 |
| BMO Capital | John McNulty | $210 | $185.31 | +15.5% | Oct 23, 2025 |
| UBS | Analyst unavailable | $218 | $179.04 | +19.9% | Oct 23, 2025 |
| Truist Financial | Analyst unavailable | $203 | $158.67 | +11.6% | Oct 13, 2025 |
| UBS | Analyst unavailable | $181 | $162.41 | -0.5% | Oct 6, 2025 |
| BMO Capital | Analyst unavailable | $216 | $170.75 | +18.8% | Apr 25, 2025 |
| Truist Financial | Michael Roxland | $210 | $174.83 | +15.5% | Apr 22, 2025 |
| BMO Capital | John McNulty | $226 | $183.34 | +24.3% | Feb 3, 2025 |
| Raymond James | Matt Roberts | $208 | $185.73 | +14.4% | Jan 31, 2025 |
| Robert W. Baird | Ghansham Panjabi | $220 | $185.73 | +21.0% | Jan 31, 2025 |
| BMO Capital | John McNulty | $247 | $204.01 | +35.8% | Oct 24, 2024 |
| Bank of America Securities | George Staphos | $250 | $214.93 | +37.5% | Oct 17, 2024 |
| BMO Capital | John McNulty | $252 | $212.76 | +38.6% | Sep 19, 2024 |
| UBS | Joshua Spector | $235 | $214.79 | +29.2% | Jul 25, 2024 |
| Truist Financial | Michael Roxland | $258 | $216.7 | +41.9% | Jul 24, 2024 |
| Robert W. Baird | Ghansham Panjabi | $250 | $226.92 | +37.5% | Jun 7, 2024 |
| Robert W. Baird | Ghansham Panjabi | $230 | $212.42 | +26.5% | Apr 25, 2024 |
| Truist Financial | Michael Roxland | $249 | $197.12 | +36.9% | Jan 12, 2024 |
| Truist Financial | Michael Roxland | $215 | $184.72 | +18.2% | Sep 5, 2023 |
| BMO Capital | Analyst unavailable | $233 | $181.2 | +28.1% | Feb 6, 2023 |
| Truist Financial | Analyst unavailable | $223 | $186.26 | +22.6% | Feb 3, 2023 |
| UBS | Analyst unavailable | $194 | $191.7 | +6.7% | Jan 11, 2023 |
| Raymond James | Joshua Wilson | $195 | $174.78 | +7.2% | Jul 25, 2022 |
| Raymond James | Analyst unavailable | $200 | $181.23 | +10.0% | Apr 28, 2022 |
| Raymond James | Analyst unavailable | $185 | $167.42 | +1.7% | Apr 25, 2022 |
| Bank of America Securities | George Staphos | $239 | $204.46 | +31.4% | Jul 6, 2021 |
Track every rating change on AVY the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationAvery Dennison Corporation operates as a materials science and digital identification solutions company in the North America, Europe, the Middle East, North Africa, Asia, and Latin America. It offers pressure-sensitive label materials, which consist of papers, plastic films, and metal foils; performance tapes products, including mechanical fasteners, which are precision-extruded and injection-molded plastic devices; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, and Avery Dennison brands. The company provides graphics and reflective products that include films and other products for the architectural, commercial sign, digital printing, and other related market segments; durable cast and reflective films to the construction, automotive, and fleet transportation markets; sign shops, commercial printers, and designers for pressure-sensitive materials; reflective films for traffic and safety applications…
Historical context
All AVY earningsConsumer Cyclical peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| DECK Deckers Outdoor Corporation | FY2027 Q2 · Calendar Q4 2026 | +13.4% | -0.2% | Deckers raises FY2027 outlook as HOKA and UGG drive growth |
| TSCO Tractor Supply Company | FY2026 Q3 · Calendar Q4 2026 | +5.3% | +6.2% | Tractor Supply Q3: Pet and Digital Momentum Supports Margin Plan |
| PHM PulteGroup, Inc. | FY2026 Q3 · Calendar Q4 2026 | -4.5% | +5.8% | PulteGroup Holds Guidance as Buyer Traffic Slows |
| PKG Packaging Corporation of America | FY2026 Q3 · Calendar Q4 2026 | +3.8% | +4.2% | PCA beats Q3 expectations as Greif synergies offset cost pressure |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the AVY recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
- Polygon adjusted daily market bars · 2026-10-25T15:30:40.884165+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T15:30:40.881300+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.