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Dec 28, 2019
ODP Q4 2019 Earnings Report
Announced fourth quarter and full year 2019 results, delivering strong operating results and cash flow generation.
Key Takeaways
Office Depot reported Q4 2019 sales of $2.5 billion, a decrease of 6% compared to the fourth quarter of 2018. The company reported operating income of $74 million, compared to $24 million in the prior year period. Net income from continuing operations was $55 million, or $0.10 per diluted share, compared to a net loss from continuing operations of $14 million, or $0.02 per diluted share in the fourth quarter of 2018.
Total Reported Sales of $2.5 Billion, down 6% from Prior Year Period
Operating Income of $74 Million and Net Income from Continuing Operations of $55 Million
Adjusted Operating Income of $92 Million, up 10% YOY; Adjusted EBITDA of $156 Million, up 13% YOY
EPS of $0.10, up $0.12 from Prior Year Period; Adjusted EPS of $0.12, up $0.03 from Prior Year Period
Forward Guidance
The Company is issuing the following guidance for full year 2020. Underlying assumptions include: Net interest expense ~$60 million, Non-GAAP effective tax rate ~30%, Capital expenditures Up to $150 million, Cash tax rate ~10%.
Positive Outlook
- Investing to drive profitable top-line growth in BSD and CompuCom divisions
- Expanding product and services offerings
- Continuing to rationalize retail footprint
Historical Earnings Impact
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Avg. Return Before/After Earnings
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