Subtext

Avery Dennison Corporation AVY

SectorMaterials
Transcripts68
Date range2008-01-29 – 2025-04-23
Calls charted68

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-17-9+0+9+172007 Q42010 Q12012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12007 Q4 · Overall: -1.22008 Q1 · Overall: -6.62008 Q2 · Overall: -1.92008 Q3 · Overall: -9.12008 Q4 · Overall: -8.82009 Q1 · Overall: -5.02009 Q2 · Overall: -6.92009 Q3 · Overall: -1.22009 Q4 · Overall: +2.62010 Q1 · Overall: +2.12010 Q4 · Overall: +6.22011 Q1 · Overall: +4.52011 Q2 · Overall: -10.52011 Q3 · Overall: -3.32011 Q4 · Overall: +0.12012 Q1 · Overall: +2.42012 Q2 · Overall: +10.42012 Q3 · Overall: +6.62012 Q4 · Overall: +8.62013 Q1 · Overall: +3.72013 Q2 · Overall: +9.02013 Q3 · Overall: +6.22013 Q4 · Overall: +8.62014 Q1 · Overall: +5.02014 Q2 · Overall: +3.92014 Q3 · Overall: +6.52014 Q4 · Overall: +1.32015 Q1 · Overall: +11.62015 Q2 · Overall: -0.52015 Q3 · Overall: +6.82015 Q4 · Overall: +9.32016 Q1 · Overall: +12.92016 Q2 · Overall: +6.32016 Q3 · Overall: +3.22016 Q4 · Overall: +11.32017 Q1 · Overall: +5.52017 Q2 · Overall: +7.92017 Q3 · Overall: +5.52017 Q4 · Overall: +10.72018 Q1 · Overall: +2.42018 Q2 · Overall: +7.72018 Q3 · Overall: +4.22018 Q4 · Overall: +7.12019 Q1 · Overall: +5.72019 Q2 · Overall: +4.32019 Q3 · Overall: +3.92019 Q4 · Overall: +7.52020 Q1 · Overall: -6.92020 Q2 · Overall: -2.22020 Q3 · Overall: +3.72020 Q4 · Overall: +8.82021 Q1 · Overall: +9.52021 Q2 · Overall: +11.02021 Q3 · Overall: +3.62021 Q4 · Overall: +5.02022 Q1 · Overall: +6.32022 Q2 · Overall: +14.82022 Q3 · Overall: +9.72022 Q4 · Overall: +1.22023 Q1 · Overall: +2.02023 Q2 · Overall: +2.32023 Q3 · Overall: +6.22023 Q4 · Overall: +8.62024 Q1 · Overall: -3.32024 Q2 · Overall: +3.42024 Q3 · Overall: +6.42024 Q4 · Overall: +14.92025 Q1 · Overall: +5.9
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-36-18+0+18+362007 Q42010 Q12012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12007 Q4 · CEO: +10.12008 Q1 · CEO: +0.92008 Q2 · CEO: +6.42008 Q3 · CEO: +0.02008 Q4 · CEO: -2.62009 Q1 · CEO: -6.32009 Q2 · CEO: +5.52009 Q3 · CEO: +6.62009 Q4 · CEO: +11.22010 Q1 · CEO: +7.62010 Q4 · CEO: +16.62011 Q1 · CEO: +10.42011 Q2 · CEO: -11.12011 Q3 · CEO: +7.12011 Q4 · CEO: +13.72012 Q1 · CEO: +10.12012 Q2 · CEO: +20.22012 Q3 · CEO: +15.62012 Q4 · CEO: +16.72013 Q1 · CEO: +14.32013 Q2 · CEO: +31.72013 Q3 · CEO: +21.72013 Q4 · CEO: +21.62014 Q1 · CEO: +16.82014 Q2 · CEO: +13.62014 Q3 · CEO: +15.62014 Q4 · CEO: +8.72015 Q1 · CEO: +14.72015 Q3 · CEO: +16.92015 Q4 · CEO: +21.22016 Q1 · CEO: +20.72016 Q3 · CEO: +13.42016 Q4 · CEO: +21.22017 Q1 · CEO: +16.32017 Q2 · CEO: +12.22017 Q3 · CEO: +10.82017 Q4 · CEO: +17.72018 Q1 · CEO: +10.12018 Q2 · CEO: +16.82018 Q3 · CEO: +9.52018 Q4 · CEO: +15.42019 Q1 · CEO: +12.92019 Q2 · CEO: +12.62019 Q3 · CEO: +10.62019 Q4 · CEO: +22.12020 Q1 · CEO: -5.82020 Q2 · CEO: +7.32020 Q3 · CEO: +7.42020 Q4 · CEO: +17.92021 Q1 · CEO: +18.52021 Q2 · CEO: +16.82021 Q3 · CEO: +5.62021 Q4 · CEO: +8.92022 Q1 · CEO: +14.52022 Q2 · CEO: +20.82022 Q3 · CEO: +25.02022 Q4 · CEO: +0.02023 Q1 · CEO: +8.92023 Q2 · CEO: +25.12023 Q3 · CEO: +12.22023 Q4 · CEO: +15.82024 Q1 · CEO: +2.02024 Q2 · CEO: +6.62024 Q3 · CEO: +11.32024 Q4 · CEO: +20.22025 Q1 · CEO: +11.42007 Q4 · CFO: -2.82008 Q1 · CFO: -7.22008 Q2 · CFO: -2.02008 Q3 · CFO: -13.62008 Q4 · CFO: -10.32009 Q1 · CFO: -4.52009 Q2 · CFO: -4.62009 Q3 · CFO: -3.22009 Q4 · CFO: +0.62010 Q1 · CFO: +3.12010 Q4 · CFO: +10.12011 Q1 · CFO: +5.52011 Q2 · CFO: -3.42011 Q3 · CFO: -5.62011 Q4 · CFO: -3.82012 Q1 · CFO: -3.92012 Q2 · CFO: +6.32012 Q3 · CFO: +11.22012 Q4 · CFO: +10.72013 Q1 · CFO: +4.02013 Q2 · CFO: +0.72013 Q3 · CFO: -5.22013 Q4 · CFO: +5.02014 Q1 · CFO: -0.52014 Q2 · CFO: -1.32014 Q3 · CFO: +3.82014 Q4 · CFO: +0.02015 Q1 · CFO: +17.12015 Q3 · CFO: +3.72016 Q1 · CFO: +6.32016 Q3 · CFO: +3.32016 Q4 · CFO: +12.22017 Q1 · CFO: +2.02017 Q2 · CFO: +8.72017 Q3 · CFO: +8.92017 Q4 · CFO: +13.42018 Q1 · CFO: +4.02018 Q2 · CFO: +13.02018 Q3 · CFO: +3.62018 Q4 · CFO: +12.72019 Q1 · CFO: +8.72019 Q2 · CFO: +1.12019 Q3 · CFO: +6.52019 Q4 · CFO: +3.92020 Q1 · CFO: -6.42020 Q2 · CFO: -4.12020 Q3 · CFO: +6.42020 Q4 · CFO: +8.12021 Q1 · CFO: +7.52021 Q2 · CFO: +12.62021 Q3 · CFO: +7.72021 Q4 · CFO: +9.72022 Q1 · CFO: +9.42022 Q2 · CFO: +19.82022 Q3 · CFO: +13.92022 Q4 · CFO: +12.42023 Q1 · CFO: +4.12023 Q3 · CFO: +7.82023 Q4 · CFO: +11.32024 Q1 · CFO: -1.32024 Q2 · CFO: +8.22024 Q3 · CFO: +10.42024 Q4 · CFO: +15.42025 Q1 · CFO: +3.2
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-33-16+0+16+332007 Q42010 Q12012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12007 Q4 · Prepared remarks: +0.42008 Q1 · Prepared remarks: -4.72008 Q2 · Prepared remarks: -3.92008 Q3 · Prepared remarks: -8.42008 Q4 · Prepared remarks: -5.12009 Q1 · Prepared remarks: -15.02009 Q2 · Prepared remarks: -10.92009 Q3 · Prepared remarks: -0.92009 Q4 · Prepared remarks: +6.82010 Q1 · Prepared remarks: +9.62010 Q4 · Prepared remarks: +15.22011 Q1 · Prepared remarks: +15.72011 Q2 · Prepared remarks: -9.52011 Q3 · Prepared remarks: +2.92011 Q4 · Prepared remarks: +6.92012 Q1 · Prepared remarks: +0.02012 Q2 · Prepared remarks: +16.32012 Q3 · Prepared remarks: +21.12012 Q4 · Prepared remarks: +18.82013 Q1 · Prepared remarks: +10.62013 Q2 · Prepared remarks: +21.02013 Q3 · Prepared remarks: +17.72013 Q4 · Prepared remarks: +17.82014 Q1 · Prepared remarks: +22.12014 Q2 · Prepared remarks: +6.42014 Q3 · Prepared remarks: +14.52014 Q4 · Prepared remarks: +10.02015 Q1 · Prepared remarks: +21.02015 Q2 · Prepared remarks: +17.72015 Q3 · Prepared remarks: +23.52015 Q4 · Prepared remarks: +14.02016 Q1 · Prepared remarks: +25.52016 Q2 · Prepared remarks: +18.52016 Q3 · Prepared remarks: +16.42016 Q4 · Prepared remarks: +21.52017 Q1 · Prepared remarks: +13.42017 Q2 · Prepared remarks: +24.72017 Q3 · Prepared remarks: +24.92017 Q4 · Prepared remarks: +21.62018 Q1 · Prepared remarks: +13.82018 Q2 · Prepared remarks: +19.22018 Q3 · Prepared remarks: +13.22018 Q4 · Prepared remarks: +19.62019 Q1 · Prepared remarks: +10.12019 Q2 · Prepared remarks: +10.32019 Q3 · Prepared remarks: +14.92019 Q4 · Prepared remarks: +18.52020 Q1 · Prepared remarks: -7.12020 Q2 · Prepared remarks: -4.12020 Q3 · Prepared remarks: +10.82020 Q4 · Prepared remarks: +18.32021 Q1 · Prepared remarks: +28.52021 Q2 · Prepared remarks: +21.02021 Q3 · Prepared remarks: +17.12021 Q4 · Prepared remarks: +23.92022 Q1 · Prepared remarks: +16.62022 Q2 · Prepared remarks: +24.32022 Q3 · Prepared remarks: +23.22022 Q4 · Prepared remarks: +13.02023 Q1 · Prepared remarks: +12.32023 Q2 · Prepared remarks: +16.12023 Q3 · Prepared remarks: +18.02023 Q4 · Prepared remarks: +20.42024 Q1 · Prepared remarks: +7.82024 Q2 · Prepared remarks: +14.42024 Q3 · Prepared remarks: +23.42024 Q4 · Prepared remarks: +25.42025 Q1 · Prepared remarks: +14.12007 Q4 · Q&A responses: +3.52008 Q1 · Q&A responses: -1.62008 Q2 · Q&A responses: +5.82008 Q3 · Q&A responses: -4.22008 Q4 · Q&A responses: -8.82009 Q1 · Q&A responses: +2.42009 Q2 · Q&A responses: -0.42009 Q3 · Q&A responses: +1.52009 Q4 · Q&A responses: +5.42010 Q1 · Q&A responses: +1.72010 Q4 · Q&A responses: +8.62011 Q1 · Q&A responses: +1.22011 Q2 · Q&A responses: -7.32011 Q3 · Q&A responses: -3.12011 Q4 · Q&A responses: +1.32012 Q1 · Q&A responses: +7.62012 Q2 · Q&A responses: +13.52012 Q3 · Q&A responses: +7.02012 Q4 · Q&A responses: +9.02013 Q1 · Q&A responses: +3.62013 Q2 · Q&A responses: +11.32013 Q3 · Q&A responses: +4.72013 Q4 · Q&A responses: +8.92014 Q1 · Q&A responses: +3.92014 Q2 · Q&A responses: +8.12014 Q3 · Q&A responses: +7.72014 Q4 · Q&A responses: -0.22015 Q1 · Q&A responses: +10.42015 Q2 · Q&A responses: +5.32015 Q3 · Q&A responses: +1.02015 Q4 · Q&A responses: +9.92016 Q1 · Q&A responses: +7.12016 Q2 · Q&A responses: +6.22016 Q3 · Q&A responses: +5.12016 Q4 · Q&A responses: +12.72017 Q1 · Q&A responses: +5.92017 Q2 · Q&A responses: +1.62017 Q3 · Q&A responses: +2.52017 Q4 · Q&A responses: +9.22018 Q1 · Q&A responses: +3.12018 Q2 · Q&A responses: +10.82018 Q3 · Q&A responses: +5.02018 Q4 · Q&A responses: +8.82019 Q1 · Q&A responses: +11.02019 Q2 · Q&A responses: +7.42019 Q3 · Q&A responses: +6.12019 Q4 · Q&A responses: +8.32020 Q1 · Q&A responses: -5.62020 Q2 · Q&A responses: +3.72020 Q3 · Q&A responses: +4.92020 Q4 · Q&A responses: +8.52021 Q1 · Q&A responses: +4.82021 Q2 · Q&A responses: +9.42021 Q3 · Q&A responses: +0.32021 Q4 · Q&A responses: -0.72022 Q1 · Q&A responses: +10.02022 Q2 · Q&A responses: +14.32022 Q3 · Q&A responses: +9.02022 Q4 · Q&A responses: -0.92023 Q1 · Q&A responses: +1.12023 Q2 · Q&A responses: -2.92023 Q3 · Q&A responses: +4.32023 Q4 · Q&A responses: +7.82024 Q1 · Q&A responses: +0.02024 Q2 · Q&A responses: +2.62024 Q3 · Q&A responses: +3.42024 Q4 · Q&A responses: +10.92025 Q1 · Q&A responses: +5.3
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$2.57$6.84$11.112007 Q42010 Q12012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12014 Q1: $3.152014 Q2: $3.272014 Q3: $3.332014 Q4: $3.402015 Q1: $3.382015 Q2: $3.562015 Q3: $3.652015 Q4: $3.732016 Q1: $3.832016 Q2: $4.052016 Q3: $4.242016 Q4: $4.312017 Q1: $4.542017 Q2: $4.822017 Q3: $5.242017 Q4: $5.502018 Q1: $6.022018 Q2: $6.282018 Q3: $6.512018 Q4: $6.612019 Q1: $6.752019 Q2: $6.872019 Q3: $6.952019 Q4: $7.042020 Q1: $7.132020 Q2: $6.142020 Q3: $6.482020 Q4: $7.192021 Q1: $8.132021 Q2: $8.912021 Q3: $9.372021 Q4: $9.702022 Q1: $9.912022 Q2: $10.202022 Q3: $10.522022 Q4: $10.292023 Q1: $9.622023 Q2: $9.692023 Q3: $9.442023 Q4: $9.452024 Q1: $9.632024 Q2: $9.972024 Q3: $10.292024 Q4: $10.52

Forward P/E

12.5118.5424.572007 Q42010 Q12012 Q42015 Q12017 Q22019 Q32021 Q42024 Q12014 Q1: 16.022014 Q2: 15.562014 Q3: 14.302014 Q4: 14.772015 Q1: 15.612015 Q2: 17.542015 Q3: 16.512015 Q4: 17.312016 Q1: 18.072016 Q2: 18.682016 Q3: 17.812016 Q4: 16.652017 Q1: 17.762017 Q2: 17.752017 Q3: 18.152017 Q4: 20.792018 Q1: 19.072018 Q2: 16.972018 Q3: 17.142018 Q4: 13.342019 Q1: 16.292019 Q2: 16.222019 Q3: 16.472019 Q4: 18.492020 Q1: 14.792020 Q2: 18.842020 Q3: 19.802020 Q4: 20.952021 Q1: 22.272021 Q2: 23.682021 Q3: 23.742021 Q4: 21.742022 Q1: 17.172022 Q2: 15.802022 Q3: 17.122022 Q4: 17.672023 Q1: 17.802023 Q2: 17.252023 Q3: 19.192023 Q4: 20.792024 Q1: 22.312024 Q2: 22.772024 Q3: 20.352024 Q4: 17.76

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q4 tone ↓ -5.2 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q2 tone ↓ -12.1 fwd EPS ↑ +0.18 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q2 tone ↓ -6.6 fwd EPS ↑ +0.22 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q3 tone ↓ -3.1 fwd EPS ↑ +0.19 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q1 tone ↓ -5.8 fwd EPS ↑ +0.23 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q3 tone ↓ -2.4 fwd EPS ↑ +0.42 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -8.2 fwd EPS ↑ +0.52 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↓ -3.6 fwd EPS ↑ +0.23 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q1 tone ↓ -14.4 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +4.7 fwd EPS ↓ -0.99 Tone rose while the forward EPS estimate was cut.
  • 2021 Q3 tone ↓ -7.5 fwd EPS ↑ +0.46 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↓ -5.1 fwd EPS ↑ +0.33 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q3 tone ↑ +3.9 fwd EPS ↓ -0.24 Tone rose while the forward EPS estimate was cut.
  • 2024 Q1 tone ↓ -11.9 fwd EPS ↑ +0.18 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-23+5.9——View →
2024 Q42025-01-30+14.9$10.5217.8View →
2024 Q32024-10-23+6.4$10.2920.4View →
2024 Q22024-07-23+3.4$9.9722.8View →
2024 Q12024-04-24-3.3$9.6322.3View →
2023 Q42024-01-31+8.6$9.4520.8View →
2023 Q32023-10-25+6.2$9.4419.2View →
2023 Q22023-07-25+2.3$9.6917.2View →