ODP Corporation (ODP) Misses Q4 EPS by 27c, Revenue Beats

ODP Corporation (NASDAQ: ODP) reported Q4 EPS of $0.55, $0.27 worse than the analyst estimate of $0.82. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.26 billion.

2021 Commentary

“Despite the challenges caused by COVID, we drove solid results in 2020 and our team is committed to unlocking the value of our asset base by driving our digital transformation and building upon our B2B platform for the benefit of all of our stakeholders. While we expect that the conditions created by the COVID-19 pandemic will persist for the first half of the year, we expect to continue leveraging our diverse channels to market and expanded value proposition to meet our customers’ needs. We will continue to execute our Maximize B2B Restructuring Plan optimizing our retail footprint, invest in top-line revenue growth in BSD and leverage our omni-channel customer base. Additionally, we will continue to invest in our digital platform and B2B pivot, including in our technology development and supply chain capabilities,” said Smith.

Because of the continuing challenges posed by current market conditions and recent events, including the public proposal made by Sycamore Partners, the owner of Staples, to acquire The ODP Corporation, and the strategic review process exploring a value-maximizing sale of our CompuCom Division, the Company is not issuing guidance for 2021 at this time. The Company expects to make growth investments in the Company’s digital transformation initiatives in the range of $20-$25 million in capital expenditures and $30-$35 million in operating expenses in 2021.

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

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