ACCO Brands Q1 sales $403M above outlook; adj. EPS $0.09 beats; reaffirms FY23 guidance

ACCO BRANDS Corp

2023-Q1 EPS reported -$0.04 revenue$402,600,000

Net sales $402.6M, down 8.8% YoY but above company outlook; gross margin improved 250 bps.
Adjusted operating income $24.3M, up 8% YoY; reported operating income $10.1M, up 49%.
Adjusted EPS $0.09 (above outlook) vs. $0.11 prior year; reported EPS ($0.04).
Operating cash outflow improved $82M to $23.2M; free cash outflow $25.2M vs $107.6M.
Reaffirmed FY23: adj. EPS $1.08-$1.12, FCF at least $100M; Q2 adj. EPS guidance $0.29-$0.32.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

ACCO BRANDS Corp reported the period ended March 31, 2023 results: revenue $403 million. Guidance reaffirmed.

Period: the period ended March 31, 2023
Revenue: $403 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

--- EX-99 (EX-99.1) --- EX-99 Exhibit 99.1 News Release ACCO BRANDS REPORTS FIRST QUARTER 2023 RESULTS HIGHLIGHTED BY IMPROVED MARGINS AND CASH FLOW • Reported net sales of $403 million, above outlook • Gross margins improved 250 basis points year-over-year • Operating income of $10.1 million grew 49% year-over-year, adjusted operating income of $24.3 million

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Source: SEC EDGAR

accession 0000950170-23-017927

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