ACCO Brands Corporation (ACCO) Tops Q3 EPS by 4c; Guides Q4 EPS Below Views

ACCO Brands Corporation (NYSE: ACCO) reported Q3 EPS of $0.19, $0.04 better than the analyst estimate of $0.15. Revenue for the quarter came in at $444 million versus the consensus estimate of $410.33 million.

"I am very pleased with our third quarter results. Net sales were better than expected and profits were at the high end of our guidance. These results demonstrate the strength, breadth and balance of our global business and product portfolio despite the economic challenges and the pandemic. We saw very solid improvement in EMEA, which helped to partially offset continuing softness in Latin America and an extended back-to-school sell-out in North America. Profitability and adjusted earnings per share continued to benefit from worldwide cost-saving actions. Once again, I extend my thanks to our global team for its hard work under very difficult circumstances," said Boris Elisman, Chairman, President and Chief Executive Officer of ACCO Brands.

GUIDANCE:

ACCO Brands Corporation sees Q4 2020 EPS of $0.26-$0.32, versus the consensus of $0.35. Sees fourth quarter sales down in a range of 15 percent to 20 percent.

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

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