Avery Dennison Corporation (AVY) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Avery Dennison published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Avery Dennison reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Avery Dennison's fiscal year now matches the calendar year. Q3 2026 ended September 30, 2026; the year-ago quarter ended September 27, 2025. Fiscal 2025 ran from December 29, 2024 to December 31, 2025.
• Beginning in Q1 2026, revenue for certain RFID products is reported in the Materials Group instead of the Solutions Group. Prior-year segment figures were not recast; Avery Dennison says the prior-year amounts were not material.

Source: Avery Dennison Q3 2026 earnings release, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Avery Dennison splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Avery Dennison's Materials Group revenue was $1.6 billion in Q3 2026, up 8% from $1.5 billion in Q3 2025, 71% of total revenue.
• Avery Dennison's Solutions Group revenue was $687 million in Q3 2026, down 2% from $700 million in Q3 2025, 29% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Avery Dennison said:

“Based on the factors listed and other assumptions, the company expects full year 2026 reported EPS of $9.45 to $9.59.”

“Excluding an estimated $0.65 impact of restructuring charges and other items, the company expects full year 2026 adjusted EPS of $10.10 to $10.24.”

“Reported sales growth of ~5.5% and organic sales growth of ~3.5%”

Source: Avery Dennison Q3 2026 earnings release and supplemental presentation, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the AVY forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP figures, each as first reported in that quarter's release. Q4 2025 ran to December 31, 2025 and included extra days from the move to a calendar fiscal year, which Avery Dennison estimated at 1.5% of that quarter's sales change.

We do not hold a confirmed date for Avery Dennison's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

Avery Dennison has two segments. The Materials Group, $1,644.5 million of the $2,331.5 million total in Q3 2026, makes Fasson, JAC and Avery Dennison pressure-sensitive label materials and performance tapes, Avery Dennison and Mactac graphics, and reflective products. The Solutions Group, $687.0 million, sells RFID, branding and embellishment, price ticketing and Vestcom shelf-edge solutions. (Avery Dennison Q3 2026 earnings release, Oct 29, 2026; Avery Dennison Form 10-K, 2025, Feb 25, 2026)

Avery Dennison's total net sales rose 5.2%, 4.9% excluding currency and 3.7% on an organic basis. The supplemental presentation says organic growth includes an approximately 2 point impact of customer destocking, roughly half of what Avery Dennison had anticipated for the quarter. (Avery Dennison Q3 2026 earnings release, Oct 29, 2026; Avery Dennison Q3 2026 financial review and analysis, Oct 29, 2026)

The Materials Group grew 8.5% as reported and 4.9% organically, with volume/mix growth of low single digits and a mid-single digit price benefit. By shipping region it sold $543.2 million in North America, $547.4 million in Europe, the Middle East and North Africa, $422.6 million in Asia Pacific and $131.3 million in Latin America. The 10-Q says organic sales rose at a high single digit rate in North America and fell at a low single digit rate in Latin America. (Avery Dennison Q3 2026 earnings release, Oct 29, 2026; Avery Dennison Form 10-Q, Q3 2026, Nov 3, 2026)

Solutions Group sales fell 1.8% as reported to $687.0 million and rose 0.8% organically. Part of the reported drop is a reclassification: since Q1 2026 revenue for certain RFID products sits in the Materials Group, which cut 2.8 points from the Solutions Group's reported change. Apparel and other sales were $466.8 million and Identification Solutions and Vestcom $220.2 million. (Avery Dennison Q3 2026 earnings release, Oct 29, 2026; Avery Dennison Q3 2026 financial review and analysis, Oct 29, 2026; Avery Dennison Form 10-Q, Q3 2026, Nov 3, 2026)

Avery Dennison's enterprise-wide Intelligent Labels sales rose low single digits organically in Q3 2026. Apparel and general retail rose about 10%, while food and logistics fell mid-teens on soft logistics demand and the comparison with outsized share gains in 2025. High-value categories were about $4 billion, or 45% of total company sales, in 2025. (Avery Dennison Q3 2026 financial review and analysis, Oct 29, 2026)

Avery Dennison's reported EPS rose 5.2% to $2.24 in Q3 2026 and adjusted EPS rose 2.1% to $2.42. The adjusted figure adds back $0.12 per share of restructuring charges and other items, less a $0.04 tax effect, plus $0.10 for applying its adjusted tax rate of 26.9% in place of the reported effective rate of 29.6%. The supplemental presentation says adjusted EPS includes an estimated 6% impact of customer destocking. (Avery Dennison Q3 2026 earnings release, Oct 29, 2026; Avery Dennison Q3 2026 financial review and analysis, Oct 29, 2026)

Buybacks lowered the share count. Diluted weighted average shares were 75.9 million against 78.0 million a year earlier. In the first three quarters of 2026 Avery Dennison repurchased 1.5 million shares for $257 million and returned $481 million to shareholders including dividends. (Avery Dennison Q3 2026 earnings release, Oct 29, 2026)

Through the first three quarters Avery Dennison realized approximately $54 million of pre-tax savings from restructuring actions and incurred approximately $43 million of pre-tax restructuring charges. Interest expense was $35.7 million in Q3 2026 against $33.3 million. (Avery Dennison Q3 2026 earnings release, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Avery Dennison gives full-year EPS guidance in its release. With Q3 2026 results it guided 2026 reported EPS of $9.45 to $9.59 and adjusted EPS of $10.10 to $10.24, excluding an estimated $0.65 of restructuring charges and other items. (Avery Dennison Q3 2026 earnings release, Oct 29, 2026)

Avery Dennison's supplemental presentation adds reported sales growth of about 5.5% and organic sales growth of about 3.5% for 2026, an estimated 1.5% sales headwind in Q4 from the calendar shift, and an assumption that the vast majority of remaining customer inventory destocking occurs in Q4. (Avery Dennison Q3 2026 financial review and analysis, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover Avery Dennison, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Avery Dennison's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning AVY is on is AVY a buy or a sell?, what analysts expect next is on the AVY forecast, and what the company does is on the Avery Dennison Corporation (AVY) stock page.

Every number on this page can be traced to a document Avery Dennison published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.