Filing Flows › Avery Dennison (AVY) › Q2 2025
Avery Dennison (AVY) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 29, 2025
Avery Dennison (AVY) reported revenue of $2.2B for the second quarter 2025 (Q2 2025), -0.7% from a year earlier and +3% from the quarter before. Operating margin was 11.5%, net earnings $189M (8.5% of revenue).
Avery Dennison, Q2 2025: revenue $2.2B (-0.7% year over year), operating margin 11.5%, net earnings $189M, operating cash flow $209M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.2B | +3% | -0.7% |
| Gross profit | $639M | +3% | -4% |
| Operating profit | $256M | +13% | +7% |
| Net earnings | $189M | +14% | +7% |
| Operating cash flow | $209M | — | +6% |
| Free cash flow | $179M | — | +19% |
What changed
Revenue was $2.2B in Q2 2025, down 1% year over year and up 3% from the previous quarter.
Gross margin was 28.8%, down 0.9 points from a year earlier. Operating profit was $0.26B, a 11.5% margin (up 0.8 points year over year). Operating expenses fell 10% while revenue fell 1%. Net earnings were $0.19B, up 7% year over year. The effective tax rate was 26.0%.
Operating cash flow was $0.21B (up 6% year over year), 110% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.07B. Capital expenditures of $0.03B left free cash flow of $0.18B.
Questions
What was Avery Dennison's revenue in the second quarter 2025?
Avery Dennison (AVY) reported revenue of $2.2B for the second quarter 2025 (Q2 2025), -0.7% from a year earlier and +3% from the quarter before.
Was Avery Dennison profitable in the second quarter 2025?
Operating profit was $256M (11.5% of revenue) and net earnings $189M.
Source: Avery Dennison 10-Q on SEC EDGAR.