ACCO Brands (ACCO) Misses Q3 EPS by 8c; Guides Below the Street

October 30, 2013 7:12 AM EDT
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ACCO Brands (NYSE: ACCO) reported Q3 EPS of $0.25, $0.08 worse than the analyst estimate of $0.33. Revenue for the quarter came in at $469.2 million versus the consensus estimate of $487.4 million.

ACCO Brands sees FY2013 EPS of $0.78-$0.81, versus the consensus of $0.88.

"Despite improvements in the International segment, strong cash generation and delivering on our merger-related cost synergies, our overall results were weaker than expected," said Boris Elisman, President and Chief Executive Officer, ACCO Brands Corporation. "We remain confident in our free cash flow target of $150 million for the year and will continue to lower debt to ultimately improve shareholder return. In addition, given the challenging environment, we will accelerate our cost reduction initiatives in the near term."

For earnings history and earnings-related data on ACCO Brands (ACCO) click here.

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