ACCO Brands Corp Earnings: Here’s Why Investors are Not Excited Now
ACCO Brands Corporation (NYSE:ACCO) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 5.23%.
ACCO Brands Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 5.56% to $0.19 in the quarter versus EPS of $0.18 in the year-earlier quarter.
Revenue: Rose 0.34% to $440.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.19 per share. By that measure, the company missed the mean analyst estimate of $0.19. It missed the average revenue estimate of $459.49 million.
Quoting Management: “We continue to demonstrate progress in a challenging market environment,” said President and Chief Executive Officer Boris Elisman. “Our school and office products categories delivered solid results, sales momentum improved in our North America and International segments, and cost savings and integration synergies contributed to improved margins. Free cash flow remained strong, and we are confident in our ability to deliver $150 million of free cash flow for the year.”
Key Stats (on next page)…