ACCO Brands Q1 net sales down 11% to $359M; adjusted EPS $0.03; FY adj EPS guide $1.02-$1.07

ACCO BRANDS Corp

2024-Q1 EPS reported -$0.07 revenue$358,900,000

Net sales $358.9M, down 10.9% YoY; comparable sales down 11.3%. Gross margin expanded 120 bps.
Operating income $5.9M vs $10.1M; adjusted operating income $16.2M vs $24.3M, reflecting lower volumes.
Net loss $(0.07)/share vs $(0.04); adjusted EPS $0.03 in line with outlook. Free cash flow $25.9M vs -$25.2M.
Full-year outlook: sales down 5-7%, adj EPS $1.02-$1.07; free cash flow at least $120M, leverage target 3.0-3.2x.
On track for over $20M in FY 2024 cost savings from multi-year $60M program; Q2 adj EPS guided $0.30-$0.33.

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 1.0

ACCO BRANDS Corp reported first quarter ended March 31, 2024 results: EPS ($0.07).

Period: first quarter ended March 31, 2024
EPS: ($0.07)
Result: reported results

Exact text from the filing

Net sales were $358.9 million a 10.9 percent decline from $402.6 million in 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ACCO BRANDS Corp reported first quarter ended March 31, 2024 results: EPS ($0.07).

Period: first quarter ended March 31, 2024
EPS: ($0.07)
Result: reported results

Exact text from the filing

Net loss was $6.3 million, or $(0.07) per share, compared with a net loss of $3.7 million, or $(0.04) per share, in 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ACCO BRANDS Corp reported full year 2024 results: EPS $1.02 to $1.07. Guidance lowered.

Period: full year 2024
EPS: $1.02 to $1.07
Guidance: lowered
Result: guidance update

Exact text from the filing

Full year adjusted EPS is expected to be within a range of $1.02 to $1.07.

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Source: SEC EDGAR

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