ACCO Brands Corporation (ACCO) Tops Q1 EPS by 2c, Revenues Beat; Affirms FY19 EPS Outlook

ACCO Brands Corporation (NYSE: ACCO) reported Q1 EPS of $0.08, $0.02 better than the analyst estimate of $0.06. Revenue for the quarter came in at $393.9 million versus the consensus estimate of $391.71 million.

"Our first quarter results demonstrate our continued effective response to industry changes, aided by our strong brands, good execution and more diversified global business," said Boris Elisman, Chairman, President and Chief Executive Officer of ACCO Brands. "While the first quarter is seasonally our smallest quarter, I am very pleased with our improved operating results driven by price recovery and cost reductions."

Strategic Overview

"We continue to progress our strategy of growing our global portfolio of consumer brands, while increasing our presence in faster growing geographies, channels and product categories and diversifying our customer base, as demonstrated by the continued growth in EMEA following the Esselte acquisition," said Elisman.

"We also continue to improve our cost structure through synergies and productivity savings to drive long-term profit growth and continued strong free cash flow generation. We continue to expect to realize $10 million of acquisition synergy savings in 2019, in addition to $30-$35 million in cost savings," he added.

GUIDANCE:

ACCO Brands Corporation sees FY2019 EPS of $1.10-$1.20, versus the consensus of $1.15.

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

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