AVY · 10-Q · 2026Q2 · Full report

Geographic Market Commentary

Avery Dennison Corp · 2026-08-04 · Importance 17 · Surprise 24

Materials Group demand was strongest in Europe, the Middle East and North Africa, where organic sales increased at a mid-teens rate in the second quarter. North America and Asia Pacific each delivered high-single-digit organic growth, while Latin America grew at a low-single-digit rate. For the first six months, Materials Group organic sales rose at mid-single-digit rates in North America, high-single-digit rates in Europe, the Middle East and North Africa and Asia Pacific, but declined at a low-single-digit rate in Latin America.

Key facts

• International operations generated approximately 69% of our net sales during the six months ended June 30, 2026. source
• Materials Group organic net sales increased by a high single digit rate in North America, a mid-teens rate in Europe, the Middle East and North Africa, a high single digit rate in Asia Pacific and a low single digit rate in Latin America (second quarter 2026 vs prior year). source
• In the first six months of 2026, on an organic basis Materials Group net sales increased by a mid-single digit rate in North America, high single digit rates in Europe, the Middle East and North Africa and Asia Pacific, and decreased by a low single digit rate in Latin America. source
• As of June 30, 2026, the majority of our cash and cash equivalents was held by our foreign subsidiaries, primarily in Asia Pacific. source