The 10-second takeaway
For the quarter ended Sep. 30 (Q3), ACCO Brands missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share increased significantly.
Gross margins dropped, operating margins increased, net margins grew.
ACCO Brands recorded revenue of $501.2 million. The five analysts polled by S&P Capital IQ looked for sales of $517.4 million on the same basis. GAAP reported sales were 48% higher than the prior-year quarter's $339.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.29. The five earnings estimates compiled by S&P Capital IQ anticipated $0.29 per share. GAAP EPS of $0.48 for Q3 were 129% higher than the prior-year quarter's $0.21 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 30.2%, 140 basis points worse than the prior-year quarter. Operating margin was 11.4%, 100 basis points better than the prior-year quarter. Net margin was 11.0%, 750 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $531.2 million. On the bottom line, the average EPS estimate is $0.37.
Next year's average estimate for revenue is $1.91 billion. The average EPS estimate is $0.81.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ACCO Brands is outperform, with an average price target of $12.17.
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