Office Depot's Parent Company ODP Slashes 2024 Outlook After Weak Q3 Earnings, Eyes B2B Pivot To Offset Retail Woes [Yahoo! Finance]
The ODP Corporation (ODP)
Last the odp corporation earnings: 2/26 06:50 am
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US:NYSE Investor Relations:
investor.officedepot.com
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Source: Yahoo! Finance
Quarterly sales of $1.780 billion, down 11% year-over-year, missed the analyst consensus of $1.820 billion. The decrease in reported sales is largely related to lower sales in its Office Depot Division, primarily due to 53 fewer retail locations in service compared to the previous year and reduced transactions, as well as lower sales in its ODP Business Solutions Division. “We're leveraging our differentiated core strengths to pivot towards higher growth B2B opportunities, and we are beginning to see promising traction at both our ODP Business Solutions and Veyer Divisions,” said Gerry Smith, chief executive officer. Also Read: Trump's Big Tech Policies: What GOP Victory Means For Apple, Google, Microsoft In the quarter under review, adjusted EBITDA was $62 million, compared to $138 million in the year-ago period. As of September 28, ODP had total available liquidity of approximately $728 million, consisting of $192 million in cash and equivalents. In a separate press rel
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ODP
Earnings
- 11/6/24 - Miss
ODP
Analyst Actions
- 11/7/24 - UBS
ODP
Sec Filings
- 12/19/24 - Form 3
- 12/12/24 - Form 8-K
- 11/14/24 - Form SC
- ODP's page on the SEC website