Friday, May 3, 2019
ACCO Brands Corporation (ACCO)
Can ACCO Brands Maintain the Momentum?
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.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Solid 1Q19 Results. ACCO brands reported solid 1Q19 results, exceeding our estimates. Revenue came in at $393.9 million and adjusted EPS at $0.08. We were projecting $381.5 million and $0.06, respectively.
- EMEA and North America Drove
Results. EMEA posted a 3.5% comp sales increase and slightly higher operating income, excluding adverse foreign currency. Although North American comp sales fell 2.5%, the decline was significantly less than the sec…
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