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ACCO Brands (ACCO)
NYSE:ACCO
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Earnings Data
Report Date
Feb 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.41Last Year’s EPS
$0.39Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: 9.53%
|Next Earnings Date:Feb 18, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a mixed sentiment with significant achievements in cost reduction and financial flexibility, but faced challenges in sales declines and a muted demand environment. Improvement in revenue trends and financial performance was noted, but offset by weaknesses in key markets and categories.Company Guidance
During the ACCO Brands Third Quarter 2024 Earnings Conference Call, the company provided detailed guidance and metrics that highlighted their strategic focus and financial performance. Despite a 6% decrease in reported sales compared to the previous year, ACCO Brands maintained its adjusted EPS in line with projections, aided by their multiyear cost reduction program which is expected to save over $20 million this year. The company emphasized their commitment to operational efficiency, reporting a 90 basis point improvement in gross margin year-to-date and a 7% reduction in SG&A costs. ACCO Brands achieved a leverage ratio of 3.5x, down from the previous year's 3.8x, and successfully refinanced their credit facilities to extend maturity to 2029. The company reiterated its full-year outlook, expecting sales to decline by 8% to 9%, with an adjusted EPS range of $1.04 to $1.09, and a free cash flow target of approximately $130 million. Additionally, ACCO Brands highlighted their capital allocation strategy, including a 6% dividend yield and strategic share repurchases, while showing interest in accretive mergers and acquisitions to drive long-term growth.Cost Reduction Success
ACCO Brands is on track to realize over $20 million in savings this year from its multiyear cost reduction program, including footprint rationalization and other supply chain initiatives.
Refinancing of Credit Facilities
The company successfully refinanced its credit facilities, extending the maturity date from 2026 to 2029, providing financial flexibility.
Improved Leverage Ratio
The company ended the quarter with a leverage ratio of 3.5x, down from the same period last year, with no debt maturities until 2029.
Stabilizing Revenue Trends
Revenue trends improved compared to the first half of the year, with growth in Technology Accessories offsetting declines in other categories.
SG&A Cost Reduction
SG&A costs were down 7% compared to the same period last year, due to cost reduction efforts and lower incentive compensation expense.
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ACCO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ACCO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $4.84 | $5.19 | +7.23% |
| Aug 01, 2024 | $4.84 | $4.52 | -6.61% |
| May 02, 2024 | $4.72 | $4.68 | -0.85% |
| Feb 22, 2024 | $6.07 | $5.27 | -13.18% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does ACCO Brands (ACCO) report earnings?
ACCO Brands (ACCO) is schdueled to report earning on Feb 18, 2025, TBA Not Confirmed.
What is ACCO Brands (ACCO) earnings time?
ACCO Brands (ACCO) earnings time is at Feb 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ACCO EPS forecast?
ACCO EPS forecast for the fiscal quarter 2024 (Q4) is $0.41.
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