Office Depot Announces First Quarter 2020 Results

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Go back to Office Depot Announces First Quarter 2020 Results

Office Depot (ODP) Tops Q1 EPS by 5c, Suspends Dividend and Buyback, Withdraws Guidance

May 6, 2020 6:52 AM EDT

Office Depot (NASDAQ: ODP) reported Q1 EPS of $0.12, $0.05 better than the analyst estimate of $0.07. Revenue for the quarter came in at $2.7 billion versus the consensus estimate of $2.68 billion.

Withdrawing 2020 Guidance

Related to the global business disruption and uncertainty caused by the COVID-19 pandemic, the Company is withdrawing its previously issued guidance for 2020. The Company experienced strong demand for essential products and services during the first quarter of 2020, which helped drive strong operating results and cash flow generation. However, considering recent supply constraints for essential... More