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Dec 31, 2020
ACCO Brands Q4 2020 Earnings Report
ACCO Brands' fourth quarter earnings decreased due to lower sales related to COVID-19 impacts, inefficiencies related to lower volume, and increased freight costs and bad debt reserves, partially offset by cost reductions and foreign government assistance programs.
Key Takeaways
ACCO Brands' fourth quarter net sales decreased by 14.4% to $460.1 million, and EPS decreased to $0.31 from $0.44 in the prior year. The company acquired PowerA, a leader in video gaming accessories, and paid $6 million in dividends.
EPS of $0.31 versus $0.44 in prior year
Adjusted EPS of $0.32 versus $0.46 in 2019
Net sales $460.1 million, down 14.4 percent from 2019
Acquired PowerA, a leader in video gaming accessories
Forward Guidance
The Company believes its first quarter sales will be in range of flat to up 4 percent, and adjusted earnings per share will be in a range of zero to $0.06.
Positive Outlook
- Including PowerA, we believe our first quarter sales will be in range of flat to up 4 percent
- Adjusted earnings per share will be in a range of zero to $0.06
- Our outlook includes a favorable foreign exchange impact of 4 percent on sales
- Our outlook includes a favorable foreign exchange impact of $0.02 on adjusted EPS
- Our outlook includes $0.09 from the exclusion of intangible amortization
Challenges Ahead
- Historically, the first quarter has been our seasonally smallest quarter.
- We continue to take the right actions to withstand the near-term economic and industry headwinds.
- We have made great strides in transforming our company into a more consumer- and technology-oriented business and strengthening our position in growing channels and categories.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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