Analyst Consensus ?
ConsensusBuy16 ratings
Bullish1381.3%
Neutral318.7%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Avery Dennison Corporation · AVY · FY2026 Q1 · Calendar Q2 2026
Avery Dennison Q1 2026: EPS and Revenue Beat as Materials Group Offsets Logistics Softness
Avery Dennison delivered a solid Q1 FY2026 with adjusted EPS up 7 percent year-over-year and modest organic sales growth of 1 percent, beating both EPS and revenue consensus estimates. The Materials Group anchored the quarter with double-digit sales growth, while the Solutions Group lagged due to weakness in high-value logistics categories. Management's incremental $75 million investment in Williard signals a deeper push into condition-monitoring sensors and a broader Intelligent Labels platform, but the mixed near-term performance of that business tempers enthusiasm. With Q2 guidance set at only 0 to 2 percent organic sales growth and raw material costs shifting from deflation to inflation, the question for investors is whether Materials Group momentum and the Intelligent Labels ramp in H2 2026 can offset cost pressures and logistics softness.
Reported Before market openNYSEConsumer Cyclical
$13.37B market cap
90quality score
Company 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…
Earnings scorecard
Reported versus consensus
Reported EPS
$2.47
Consensus $2
EPS surprise
+1.6%
Reported versus consensus
Reported revenue
$2.30B
Consensus $2.26B
Revenue surprise
+1.7%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$168.76Current
$175Low
$210.23Average
$250High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 31, 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 | Jul 15, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 14, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jul 9, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Apr 29, 2026 |
| UBS | Buy | Buy | Maintain | Apr 10, 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 $168.76. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Analyst unavailable | $209 | $158.98 | +23.8% | Jul 15, 2026 |
| Argus Research | Analyst unavailable | $175 | $154.6 | +3.7% | Jun 4, 2026 |
| Truist Financial | Analyst unavailable | $221 | $163.74 | +31.0% | Apr 29, 2026 |
| Raymond James | Analyst unavailable | $192 | $172.12 | +13.8% | Apr 21, 2026 |
| UBS | Joshua Spector | $222 | $172.09 | +31.5% | Apr 10, 2026 |
| BMO Capital | Analyst unavailable | $224 | $192.88 | +32.7% | Feb 6, 2026 |
| UBS | Joshua Spector | $226 | $193.13 | +33.9% | Feb 5, 2026 |
| Truist Financial | Analyst unavailable | $234 | $180.54 | +38.7% | Jan 6, 2026 |
| Argus Research | Alexandra Yates | $200 | $180.52 | +18.5% | Oct 28, 2025 |
| BMO Capital | John McNulty | $210 | $185.31 | +24.4% | Oct 23, 2025 |
| UBS | Analyst unavailable | $218 | $179.04 | +29.2% | Oct 23, 2025 |
| Truist Financial | Analyst unavailable | $203 | $158.67 | +20.3% | Oct 13, 2025 |
| UBS | Analyst unavailable | $181 | $162.41 | +7.3% | Oct 6, 2025 |
| BMO Capital | Analyst unavailable | $216 | $170.75 | +28.0% | Apr 25, 2025 |
| Truist Financial | Michael Roxland | $210 | $174.83 | +24.4% | Apr 22, 2025 |
| BMO Capital | John McNulty | $226 | $183.34 | +33.9% | Feb 3, 2025 |
| Raymond James | Matt Roberts | $208 | $185.73 | +23.3% | Jan 31, 2025 |
| Robert W. Baird | Ghansham Panjabi | $220 | $185.73 | +30.4% | Jan 31, 2025 |
| BMO Capital | John McNulty | $247 | $204.01 | +46.4% | Oct 24, 2024 |
| Bank of America Securities | George Staphos | $250 | $214.93 | +48.1% | Oct 17, 2024 |
| BMO Capital | John McNulty | $252 | $212.76 | +49.3% | Sep 19, 2024 |
| UBS | Joshua Spector | $235 | $214.79 | +39.3% | Jul 25, 2024 |
| Truist Financial | Michael Roxland | $258 | $216.7 | +52.9% | Jul 24, 2024 |
| Robert W. Baird | Ghansham Panjabi | $250 | $226.92 | +48.1% | Jun 7, 2024 |
| Robert W. Baird | Ghansham Panjabi | $230 | $212.42 | +36.3% | Apr 25, 2024 |
| Truist Financial | Michael Roxland | $249 | $197.12 | +47.5% | Jan 12, 2024 |
| Truist Financial | Michael Roxland | $215 | $184.72 | +27.4% | Sep 5, 2023 |
| BMO Capital | Analyst unavailable | $233 | $181.2 | +38.1% | Feb 6, 2023 |
| Truist Financial | Analyst unavailable | $223 | $186.26 | +32.1% | Feb 3, 2023 |
| UBS | Analyst unavailable | $194 | $191.7 | +15.0% | Jan 11, 2023 |
| Raymond James | Joshua Wilson | $195 | $174.78 | +15.5% | Jul 25, 2022 |
| Raymond James | Analyst unavailable | $200 | $181.23 | +18.5% | Apr 28, 2022 |
| Raymond James | Analyst unavailable | $185 | $167.42 | +9.6% | Apr 25, 2022 |
| Bank of America Securities | George Staphos | $239 | $204.46 | +41.6% | Jul 6, 2021 |
Track every rating change on AVY the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
+0.9%
Event window
SPY move
-0.5%
Same window
Abnormal move
+1.4%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
-3.6%
Up to 20 sessions
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Try FN2 freeTranscript intelligence
What changed
1) Adjusted EPS of $2.47 beat the consensus estimate of $2.43 by 1.6 percent, representing 7 percent year-over-year growth. 2) Revenue of $2.299 billion exceeded the consensus estimate of $2.260 billion by 1.7 percent. 3) Materials Group delivered double-digit sales growth, the primary growth driver for the quarter. 4) Solutions Group posted a slight decline, dragged by weakness in high-value logistics categories. 5) An incremental $75 million investment in Williard was announced to expand condition-monitoring sensor capabilities and the Intelligent Labels platform. 6) Raw material cost trends shifted from deflation in early Q1 to high single-digit inflation expected in Q2. 7) The stock saw an abnormal return of 1.4 percent on the report date, followed by a subsequent drift of approximately 3.6 percent lower.
Guidance delta
Q2 guidance calls for 0 to 2 percent organic sales growth with earnings growth at the midpoint of the full-year range. Guidance sentiment was maintained, not raised, consistent with management's balanced view of Materials Group strength against logistics and inflation headwinds.
Key takeaways
- Adjusted EPS grew 7 percent year-over-year, driven by volume, productivity, and favorable currency effects.
- Materials Group posted strong sales growth with double-digit gains, offsetting weaker performance in high-value logistics categories.
- Intelligent Labels delivered mixed results with apparel strength but logistics headwinds; a ramp in food with Walmart is expected in H2 2026.
- An incremental $75 million investment in Williard deepens the partnership and targets an estimated $75 billion expansion in total addressable market through condition-monitoring sensors.
- Raw material costs shifted from deflation in early Q1 to high single-digit inflation expected in Q2, prompting planned price increases.
Management priorities
- Ramping Intelligent Labels in food with Walmart in H2 2026 and expanding pilots with logistics partners and new retail customers.
- Leveraging the Williard partnership for condition-monitoring sensor solutions across retail, food, and logistics.
- Executing restructuring savings of over $55 million.
- Integrating the Taylor Adhesives acquisition to add new adhesive capabilities.
- Maintaining disciplined capital allocation with continued capex on innovation and platform expansion.
Related earnings events
Consumer CyclicalDECK · FY2027 Q1 · Calendar Q3 2026Deckers Crosses $1 Billion Quarterly Revenue as HOKA and UGG DTC Drive Margin GainsTSCO · FY2026 Q2 · Calendar Q3 2026TSCO Q2: Comp Sales Turn Negative as Pet Ecosystem ExpandsPKG · FY2026 Q2 · Calendar Q3 2026PKG Beats Q2 EPS Guidance as Greif Integration Hits Stride
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-31T14:24:46.142365+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-31T14:24:46.139593+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 . For educational purposes only; not investment advice.