Avery Dennison reported first-quarter 2025 adjusted earnings per share (EPS) of $2.30, slightly below the $2.32 consensus estimate, with net sales of $2.15 billion in line with expectations. The adjusted EPS increased by approximately 4% excluding currency effects, while net sales declined marginally by 0.1% to $2.1 billion. The company posted an operating margin of 15.3%. CEO Deon Stander described the quarter as strong and in line with expectations. For the second quarter of 2025, Avery Dennison projects adjusted EPS to increase sequentially to a range between $2.30 and $2.50. Sales growth is anticipated in most business segments but is expected to be offset by a mid-single-digit decline in the apparel segment, resulting in overall sales decline. Separately, Investor AB announced its first-quarter 2025 results for the Patricia Industries platform, reporting a 7% increase in sales (4% organic), a 3% decrease in EBITA, and a 15% increase in operating cash flow. The EBITA margin stood at approximately 23%. The decline in EBITA was attributed to weakness at Molnlycke, which is expected to reverse during 2025.