ACCO Brands Q3: sales down 7.7% to $448M; adj. EPS $0.24; gross margin +400bps; FY outlook trimmed

ACCO BRANDS Corp

2023-Q3 EPS reported $0.39 revenue$1,344,200,000

Net sales $448.0M (-7.7% YoY); comparable sales -9.9%; FX added 2.2%.
Gross margin expanded 400 bps; adjusted operating income grew 8% to $46M.
Reported EPS $0.15; adjusted EPS $0.24 (at high end of outlook).
Updated FY outlook: sales down 6-7%; adj. EPS $1.03-$1.07; free cash flow at least $110M reaffirmed.
Quarterly dividend of $0.075/share declared; leverage ratio 3.8x.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ACCO BRANDS Corp reported the third quarter and nine months ended September 30, 2023 results: revenue $448.0 million, net income $0.15 per share, EPS $0.15. Guidance reaffirmed.

Period: the third quarter and nine months ended September 30, 2023
Revenue: $448.0 million
Net income: $0.15 per share
EPS: $0.15
Guidance: reaffirmed
Result: reported results

Exact text from the filing

--- EX-99.1 Exhibit 99.1 News Release ACCO BRANDS REPORTS THIRD QUARTER 2023 RESULTS; HIGHLIGHTED BY GROSS MARGIN IMPROVEMENT AND STRONG FREE CASH FLOW • Reported net sales of $448 million, with gross margin expanding 400 basis points • Operating income of $32 million; adjusted operating income grew 8% to $46 million • EPS of $0.15; adjusted EPS of $0.24, at the

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Source: SEC EDGAR

accession 0000950170-23-058219

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