Filing Flows › Avery Dennison (AVY) › Q1 2026
Avery Dennison (AVY) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Avery Dennison (AVY) reported revenue of $2.3B for the first quarter 2026 (Q1 2026), +7% from a year earlier and +1% from the quarter before. Operating margin was 10.5%, net earnings $168M (7.3% of revenue).
Avery Dennison, Q1 2026: revenue $2.3B (+7% year over year), operating margin 10.5%, net earnings $168M, operating cash flow $136M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.3B | +1% | +7% |
| Gross profit | $665M | +2% | +7% |
| Operating profit | $240M | +16% | +6% |
| Net earnings | $168M | +1% | +1% |
| Operating cash flow | $136M | -64% | — |
| Free cash flow | $104M | — | — |
What changed
Revenue was $2.3B in Q1 2026, up 7% year over year and up 1% from the previous quarter.
Gross margin was 28.9%, unchanged from Q1 2025. Operating profit was $0.24B, a 10.5% margin (down 0.1 points year over year). Of the extra revenue versus Q1 2025, 9% reached operating profit, below the 11% margin then. Operating expenses grew 8% against revenue growth of 7%. Net earnings were $0.17B, up 1% year over year. The effective tax rate was 30.1%.
Operating cash flow was $0.14B, 81% of net earnings. Non-cash charges added back $0.09B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.12B. After purchases of property, plant and equipment, net ($0.02B) and purchases of software and other deferred charges ($0.01B), adjusted free cash flow as the company reports it was $0.10B.
Questions
What was Avery Dennison's revenue in the first quarter 2026?
Avery Dennison (AVY) reported revenue of $2.3B for the first quarter 2026 (Q1 2026), +7% from a year earlier and +1% from the quarter before.
Was Avery Dennison profitable in the first quarter 2026?
Operating profit was $240M (10.5% of revenue) and net earnings $168M.
Source: Avery Dennison 10-Q on SEC EDGAR.