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    Chris Perella • UBS

    Chris Perella is an Executive Director and Senior Equity Analyst at UBS, specializing in coverage of the industrials and chemicals sectors with a focus on major companies such as DuPont, Dow, and LyondellBasell. He has established a robust track record for delivering actionable investment research, achieving a strong success rate and consistently ranking in leading analyst performance platforms. Perella began his career at Citigroup before joining UBS, where he leverages extensive sector expertise developed through over a decade in equity research. He holds FINRA Series 7, 63, and 86/87 registrations and is recognized for his depth in quantitative and fundamental investment analysis.

    Chris Perella's questions to Avery Dennison Corp (AVY) leadership

    Chris Perella's questions to Avery Dennison Corp (AVY) leadership • Q1 2025

    Question

    Chris Perella, on for Josh Spector, asked about the flexibility of capital spending and whether a step-up would be required to support customers relocating production. He also requested color on current U.S. demand trends.

    Answer

    CEO Deon Stander responded that a significant step-up in capital is not anticipated to handle sourcing shifts, as the company has available capacity and ongoing productivity initiatives. Regarding U.S. demand, he noted that while the materials business demand is stable, there is a slowdown in orders for apparel specifically sourced from China due to tariff uncertainty.

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