Acco Brands reports Q1 adjusted EPS 3c, consensus 2c

Reports Q1 revenue $358.9M, consensus $371.8M. The company said, “Our first quarter results demonstrate our commitment to improving profitability and cash flow generation as we work to overcome persistent consumer and business spending weakness. We generated higher free cash flow year over year, which allowed us to end the quarter with a leverage ratio of 3.5 times, which was a significant improvement over the prior year. I am proud of our team’s execution as we implemented our global restructuring and cost savings initiatives, which are already yielding benefits. We continue to invest in new product development, innovation, and other growth initiatives, while generating strong free cash flow and reducing our debt levels. Looking ahead, we remain focused on streamlining our operations and refining our strategy to enhance business performance and create long-term shareholder value.”