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Jun 30, 2022
ACCO Brands Q2 2022 Earnings Report
Posted solid quarterly results in a challenging operating environment.
Key Takeaways
ACCO Brands reported a net sales increase of 0.6% to $521.0 million, with comparable sales up 5.2%. EPS was $0.40, while adjusted EPS was $0.37. The company experienced sales momentum in North America and recovery in the International segment.
Net sales were $521.0 million, up 0.6 percent; comparable sales were up 5.2 percent
EPS was $0.40 versus $0.50 in 2021; adjusted EPS was $0.37 versus $0.43 in 2021
Continued sales momentum in North America driven by strong back-to-school sell-in
Continued recovery in International segment, led by growth in Brazil and Mexico
Forward Guidance
The Company is providing an updated full year outlook to reflect a more conservative view for the remainder of the year, including a moderating demand environment, continuing cost inflation, and more adverse foreign exchange. However, the Company anticipates second half gross margin improvement with rates higher than the prior year, as its pricing actions should begin to mitigate the impact of cumulative cost increases.
Positive Outlook
- Company has a proven track record of managing well in periods of economic uncertainty
- Company has a proven track record of increasing competitive advantage.
- Company believes they have the right strategy.
- Company is well positioned to continue to deliver organic sales growth
- Company is well positioned to continue to deliver compelling market performance, and improved financial results in the second half of this year and beyond
Challenges Ahead
- Reflect a more conservative view for the remainder of the year
- Including a moderating demand environment
Historical Earnings Impact
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Avg. Return Before/After Earnings
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