ODP Corporation lowers FY24 EPS view to $4.25-$5.00 from $6.30-$6.60.

Sees FY24 revenue over $7B, consensus $7.39B. Consensus is for FY24 EPS $6.37. Sees FY24 Adjusted EBITDA $310M-$350M. “Our performance in the first half of the year was clearly below expectations, placing us behind our goals for the year,” said Smith. “The initiatives we are taking to improve our top-line trajectory, along with our low-cost model, high touch service approach, and strong value proposition, give us confidence in our ability to improve our performance and position us for greater stability and growth in the future. Considering our slow start to the first half of the year, as well as the uncertain macroeconomic environment and the potential variability of the timing of our initiatives, we are updating our 2024 guidance as follows”: