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Thursday, October 31, 2019
ACCO Brands Corporation (ACCO)
Post 3Q19 Conference Call Notes
ACCO Brands Corporation designs, manufactures, sources, markets, and sells office products, academic supplies, and calendar products primarily in the United States, Canada, Northern Europe, Brazil, Australia, and Mexico. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers office products, such as stapling, binding and laminating equipment, and related consumable supplies, as well as shredders and whiteboards; and academic products, including notebooks, folders, decorative calendars, and stationery products. It also provides private label products, as well as business machine maintenance and repair services. The company offers its business, academic, and calendar product lines under the Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra, Wilson Jones, and other brand names. In addition, it designs, sources, distributes, markets, and sells accessories for laptop and desktop computers, and tablets comprising security products; input devices, such as presenters, mice, and trackballs; ergonomic aids, including foot and wrist rests; docking stations; and other personal computers and tablet accessories under the Kensington, Microsaver, and ClickSafe brand names. The company sells its products to consumers and commercial end-users primarily through resellers, including traditional office supply resellers, wholesalers, mass merchandisers, and retailers, as well as directly to consumers through on-line and direct mail. ACCO Brands Corporation is headquartered in Lake Zurich, Illinois.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- North America a Surprising Engine. With comp sales up 3.5% in the quarter, following an 8.9% 2Q19 comp increase, the North American business has been a surprising engine this year. If the North American business can continue to post positive comp sales increases, it will bode well for the Company’s future.
- EMEA and International Still Lagging. Both EMEA and International have posted somewhat disappointing results in the first three quarters of the year, with only one positive quarterly comp sales increase this year between both segments. We believe…
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This Company Sponored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst
certification and important disclosures included in full report.
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