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Sep 26, 2020
ODP Q3 2020 Earnings Report
ODP reported Q3 2020 results with revenue of $2.5 billion and GAAP EPS of $1.04.
Key Takeaways
ODP Corporation announced its Q3 2020 results, showcasing a revenue of $2.5 billion. The company reported GAAP EPS of $1.04 and adjusted EPS of $1.80. Significant cash flow generation was achieved, with $1.7 billion in total available liquidity. The share repurchase program has been reinstated.
Total reported sales were $2.5 billion, down 9% year-over-year but up 18% sequentially compared to Q2 2020.
GAAP operating income was $102 million and net income was $57 million, or $1.04 per share, each down approximately 5% year-over-year.
Adjusted operating income was $138 million, flat year-over-year and up from $10 million in Q2 2020; and adjusted EBITDA was $186 million.
Operating cash flow was $309 million and adjusted free cash flow was $312 million, versus $212 and $209 million, respectively, in the prior year.
Forward Guidance
Due to uncertainty in the pace of economic recovery, the company's guidance remains withdrawn.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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