Office Depot announced strong Q1 2020 results, with operating income up 233% YOY and net income up 463% YOY. The company's B2B focus and ability to serve customers during the COVID-19 crisis helped drive strong operating results and generate $188 million in operating cash flow. Due to the uncertainty of the severity and duration of the impacts of the COVID-19 outbreak, the Company is withdrawing its previously issued guidance for 2020.
Total Reported Sales of $2.7 Billion, down 2% from Prior Year Period
Operating Income of $80 Million, up 233% YOY; Net Income of $45 Million, up 463% YOY
Adjusted Operating Income of $108 Million, up 61% YOY; Adjusted EBITDA of $157 Million, up 33% YOY
EPS of $0.08, up $0.07 from Prior Year Period; Adjusted EPS of $0.12, up $0.05 from Prior Year Period
Withdrawing 2020 guidance due to COVID-19 pandemic.
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