The 10-second takeaway
For the quarter ended March 31 (Q1), ACCO Brands missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. GAAP loss per share dropped.
Gross margins dropped, operating margins contracted, net margins increased.
ACCO Brands notched revenue of $352.0 million. The six analysts polled by S&P Capital IQ expected to see a top line of $383.7 million on the same basis. GAAP reported sales were 22% higher than the prior-year quarter's $288.9 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 -$0.08. The seven earnings estimates compiled by S&P Capital IQ predicted $0.00 per share. GAAP EPS were -$0.08 for Q1 against -$0.31 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 27.5%, 150 basis points worse than the prior-year quarter. Operating margin was 0.1%, 400 basis points worse than the prior-year quarter. Net margin was -2.6%, 340 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $465.4 million. On the bottom line, the average EPS estimate is $0.20.
Next year's average estimate for revenue is $1.92 billion. The average EPS estimate is $1.00.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ACCO Brands is outperform, with an average price target of $10.67.
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