secwatch.observer — SEC 8-K summary
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Issuer:     ACCO BRANDS Corp (ACCO)
CIK:        0000712034
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0000950170-24-052132
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/712034/000095017024052132/0000950170-24-052132-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/712034/000095017024052132/acco-20240502.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-052132

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