艾利丹尼森 2026年季度报告

FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended March 31, 2026. OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-7685 AVERY DENNISON CORPORATION(Exact name of registrant as specified in its charter) 95-1492269 (I.R.S. Employer Identification No.) Registrant’s telephone number, including area code: (440) 534-6000 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growthcompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. Large accelerated filerAccelerated filerNon-accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No Number of shares of $1 par value common stock outstanding as of May2, 2026: 76,490,385 AVERY DENNISON CORPORATION FISCAL FIRST QUARTER 2026 QUARTERLY REPORT ON FORM 10-Q TABLE OF CONTENTS SAFE HARBOR STATEMENT PART I. FINANCIAL INFORMATION (UNAUDITED) Item 1.Financial Statements:Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 20252Condensed Consolidated Statements of Income for the Three Months Ended March31, 2026 and March 29, 20253Condensed Consolidated Statements of Comprehensive Income for the Three Months EndedMarch 31, 2026 and March 29,20254Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and March 29, 20255Notes to Unaudited Condensed Consolidated Financial Statements6Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations17Non-GAAP Financial Measures17Overview and Outlook18Analysis of Results of Operations for the FirstQuarter19Results of Operations by Reportable Segment for the FirstQuarter21Financial Condition22Item 3.Quantitative and Qualitative Disclosures About Market Risk25Item 4.Controls and Procedures26 PART II. OTHER INFORMATION Item 1.Legal Proceedings27Item 1A.Risk Factors27Item 2.Unregistered Sales of Equity Securities and Use of Proceeds28Item 3.Defaults Upon Senior Securities28Item 4.Mine Safety Disclosures28Item 5.Other Information28Item 6.Exhibits29Signatures30Exhibits Safe Harbor Statement This Quarterly Report contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Thesestatements, which are not statements of historical fact, contain estimates, assumptions, projections and/or expectations regarding future events, whichmay or may not occur. Words such as “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “guidance,”“intend,” “may,” “might,” “objective,” “plan,” “potential,” “project,” “seek,” “shall,” “should,” “target,” “will,” “would,” or variations thereof, andother expressions that refer to future events and trends, identify forward-looking statements. Our forward-looking statements, and financial or otherbusiness targets, are subject to certain risks and uncertainties, which could cause our actual results to differ materially from the expected results,performance or achievements expressed or implied by such forward-looking statements. We believe that the most significant risk factors that could affect our financial performance in the near term include: (i) the impact on underlyingdemand for our products from global economic conditions, tariffs, geopolitical uncertainty, and changes in environmental standards, regulations, andpreferences; (ii) competitors’ actions, including pricing, expansion in key markets, and product offerings; (iii) the cost and availability of rawmaterials; (iv) the degree to which higher costs can be offset with productivity me