Office Depot Parent ODP Boosts FY24 EPS Outlook Despite Bumpy Q1 Ride: Details
Office Depot Parent ODP Boosts FY24 EPS Outlook Despite Bumpy Q1 Ride: Details
The ODP Corporation (NASDAQ:ODP) shares are trading lower after the company reported first-quarter FY24 earnings below street view.
ODP公司（納斯達克股票代碼：ODP）的股價走低，此前該公司公佈的24財年第一季度收益低於街景。
The company reported a first-quarter FY24 sales decline of 11% year-on-year to $1.87 billion, missing the analyst consensus estimate of $1.96 billion.
該公司報告稱，24財年第一季度銷售額同比下降11％，至18.7億美元，未達到分析師共識估計的19.6億美元。
The decrease in reported sales is largely related to lower sales in its Office Depot Division, primarily due to 56 fewer retail locations in service compared to the previous year and reduced transactions.
報告的銷售額下降在很大程度上與其Office Depot部門的銷售額下降有關，這主要是由於與去年相比在售零售點減少了56個以及交易量減少。
Gross profit increased 14.7% to $410 million with a margin of 21.9%. Selling, general and administrative expenses dropped 6% to $359 million.
毛利增長了14.7％，達到4.1億美元，利潤率爲21.9％。銷售、一般和管理費用下降了6％，至3.59億美元。
The operating income for the quarter plunged 81% to $18 million and the operating margin contracted 350 basis points to about 1%.
該季度的營業收入下降了81％，至1,800萬美元，營業利潤率收縮了350個點子，至約1％。
Adjusted EBITDA for the quarter decreased 37% to $82 million. Adjusted EPS of $1.05 missed the consensus estimate of $1.67.
本季度調整後的息稅折舊攤銷前利潤下降了37％，至8200萬美元。調整後的每股收益爲1.05美元，未達到市場普遍預期的1.67美元。
Operating cash flow for the quarter totaled $38 million with a free cash flow of $3 million. ODP repurchased 957 thousand shares at a cost of $50 million in the first quarter of 2024.
該季度的運營現金流總額爲3,800萬美元，自由現金流爲300萬美元。ODP在2024年第一季度以5000萬美元的價格回購了957,000股股票。
The company held $282 million in cash and equivalents as of March 30. Total debt was $125 million.
截至3月30日，該公司持有2.82億美元的現金及等價物。債務總額爲1.25億美元。
"During the quarter, more cautious spending activity and ongoing delays in the onboarding of new customers at ODP Business Solutions impacted their performance, while reduced consumer activity affected Office Depot's revenue results," said CEO Gerry Smith.
首席執行官格里·史密斯表示：“在本季度，更加謹慎的支出活動以及ODP Business Solutions新客戶入職的持續延誤影響了他們的業績，而消費者活動的減少影響了Office Depot的收入業績。”
"Additionally, we have arrived at the strategic decision to pursue a sale of Varis, which our Board of Directors have approved. Concurrently, we have reduced the operating cost of Varis to further refine their focus, while continuing to support new and existing customers. Through the acceleration of Project Core, the additional cost efficiencies we are driving now and in the second half of the year have positioned us to increase guidance for adjusted EBITDA and adjusted EPS," Smith continued.
“此外，我們已經做出了出售Varis的戰略決策，董事會已經批准了該決定。同時，我們降低了Varis的運營成本，以進一步細化其工作重點，同時繼續爲新老客戶提供支持。通過加速 Project Core，我們現在和下半年提高的成本效率使我們能夠提高調整後息稅折舊攤銷前利潤和調整後每股收益的預期，” 史密斯繼續說道。
Outlook: The company updated its guidance for 2024, with sales affirmed at the lower end of the prior outlook for decline of 2% – 5%.
展望：該公司更新了2024年的指導方針，銷售額確認處於先前預期的下限，下降2％至5％。
ODP raised its Adjusted EPS outlook from $5.60 – $5.80 to $6.30 – $6.60 against the consensus of $5.67.
ODP將其調整後的每股收益展望從5.60美元至5.80美元上調至6.30美元至6.60美元，而市場普遍預期爲5.67美元。
Price Action: ODP shares are trading lower by 5.59% at $49.00 in premarket on the last check Wednesday.
價格走勢：在週三的最後一次盤前支票中，ODP股價下跌5.59％，至49.00美元。
Photo via Wikimedia Commons
照片來自維基共享資源