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Mar 31, 2021
ACCO Brands Q1 2021 Earnings Report
ACCO Brands' Q1 2021 sales increased by 7 percent, driven by strength in PowerA and EMEA.
Key Takeaways
ACCO Brands reported better-than-expected first-quarter results, with net sales increasing by 6.9% to $410.5 million. The growth was primarily driven by the inclusion of $62.7 million from the PowerA acquisition and strong performance in EMEA. The company also undertook strategic restructuring and refinancing actions to lower long-term costs and improve its debt structure.
Net sales increased 6.9 percent to $410.5 million.
PowerA results exceeded expectations.
Strong EMEA performance continued.
Refinanced bond and bank debt to reduce interest cost/extend tenor.
Forward Guidance
Second quarter sales are expected to be in a range of $460 million to $490 million, with PowerA contributing $50 million to $60 million. Adjusted earnings per share are expected to be in a range of $0.25 to $0.30. The outlook includes a favorable foreign exchange impact of 5 percent on sales and $0.01 to $0.02 on adjusted EPS, as well as $0.09 from the exclusion of intangible amortization.
Positive Outlook
- Second quarter sales are expected to be in a range of $460 million to $490 million.
- PowerA contributing $50 million to $60 million.
- Adjusted earnings per share are expected to be in a range of $0.25 to $0.30.
- Includes a favorable foreign exchange impact of 5 percent on sales
- Includes a favorable foreign exchange impact of $0.01 to $0.02 on adjusted EPS
Historical Earnings Impact
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Avg. Return Before/After Earnings
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