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Sep 30, 2020
ACCO Brands Q3 2020 Earnings Report
ACCO Brands posted third quarter earnings, with net sales better than expected and profits at the high end of guidance.
Key Takeaways
ACCO Brands reported a decrease in net sales by 12.2% to $444.1 million compared to 2019, and a decrease in operating income to $34.3 million. The company's EPS was $0.20, and adjusted EPS was $0.19. Despite challenges, EMEA showed solid improvement, offsetting softness in Latin America and an extended back-to-school sell-out in North America.
3Q EPS of $0.20 versus $0.28 in prior year
Adjusted 3Q EPS of $0.19 versus $0.32 in 2019
3Q net sales $444 million, down 12 percent from 2019
EMEA operating income increased versus 3Q 2019
Forward Guidance
The company anticipates fourth quarter sales to decline between 15% and 20%, with adjusted earnings per share ranging from $0.26 to $0.32. The outlook includes a 2% adverse foreign exchange impact on sales and a $0.02 impact on adjusted EPS. For the full year, the company expects to generate over $100 million in free cash flow.
Challenges Ahead
- We believe our fourth quarter sales will decline in a range of 15 percent to 20 percent
- Our outlook includes an adverse foreign exchange impact of 2 percent on sales
- Our outlook includes an adverse foreign exchange impact of $0.02 on adjusted EPS
Historical Earnings Impact
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Avg. Return Before/After Earnings
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