AVY · 10-Q · 2026Q3 · Full report

Gross Margin Drivers

Avery Dennison Corp · 2026-11-03 · Importance 55 · Surprise 32

Nine-month gross profit increased 8.1% to $2,049.0 million from $1,895.6 million, while gross margin edged up to approximately 28.9% from 28.8%. Higher volume, pricing and raw-material cost benefits including material re-engineering, productivity initiatives, and favorable currency translation contributed to the increase. Unfavorable mix and higher employee-related costs partially offset those benefits.