Acco Brands reports Q3 adjusted EPS 23c, consensus 23c

Reports Q3 revenue $421M, consensus $418.2M. “We are pleased to report third quarter results that were in line with our expectations, with overall sales trends improving in the third quarter compared to the first half of the year. We continue to make progress on our cost reduction and infrastructure initiatives, which allowed us to deliver another quarter of improved gross margin and cash flow. Our robust cash flow enabled us to reduce debt and return capital to shareholders through dividends and share repurchases. We ended the quarter with a lower leverage ratio than the prior year and successfully refinanced our credit facilities. We now have no significant debt maturities until 2029,” stated ACCO Brands (ACCO)’ President and Chief Executive Officer, Tom Tedford.