Staples (SPLS) Reports In-Line Q1 EPS, Miss on Revenues; Light Q2 EPS Outlook

Staples (NASDAQ: SPLS) reported Q1 EPS of $0.17, in-line with the analyst estimate of $0.17. Revenue for the quarter came in at $4.1 billion versus the consensus estimate of $4.5 billion.

GUIDANCE:

Staples sees Q2 2017 EPS of $0.10-$0.13, versus the consensus of $0.13.

Outlook

For the second quarter of 2017, the company expects to achieve fully diluted non-GAAPearnings per share from continuing operations in the range of $0.10 to $0.13. The company’s earningsguidance, which is provided on a non-GAAP basis because reconciling amounts cannot be reasonably estimated, reflects continued progress on its cost savings initiatives, offset by investments to accelerate growth in its mid-market contract business and in Pro Categories. For the full year 2017, the company expects to generate at least $500 million of free cash flow. The company remains on track to close approximately 70 stores in North America in 2017.

For earnings history and earnings-related data on Staples (SPLS) click here.

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