Movers and SHAKERS
ACCO Brands (ACCO)
Record 2Q Results; What's In-store for the Rest of the Year?
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.
- Record 2Q19 Results. ACCO Brands reported record 2Q19 operating results with revenue up 4.0% to $518.7 million and adjusted EPS of $0.36 versus $0.32 last year. We were forecasting revenue of $495 million and adjusted EPS of $0.33. A surprisingly strong North American business led the top line improvement, while tight expense controls, pricing increases to offset inflation and tariffs, and a reduced share count benefited the bottom line.
- Strong North America. Broad sales growth across all channels in North America drove an 8.9% growth in segment revenue. Pricing and, to a lesser extent...
This Company Sponsored 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. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.