Office Depot Parent ODP Slashes FY24 Guidance Amid 10% Sales Drop - Stock Slumps
Office Depot Parent ODP Slashes FY24 Guidance Amid 10% Sales Drop - Stock Slumps
The ODP Corporation (NASDAQ:ODP) shares are trading lower on Wednesday after the company reported second-quarter results.
欧迪办公（NASDAQ：ODP）的股票在周三交易时下跌，该公司发布了第二季度财报。
The company reported adjusted earnings per share of 56 cents, missing the analyst consensus of $1.20.
公司报告调整后每股收益为56美分，低于分析师预测的1.20美元。
Total reported sales reached $1.717 billion, a 10% decrease year over year. Sales missed the street view of $1.762 billion.
总销售额达17.17亿美元，同比下降10%。 销售额低于17.62亿美元的街头预期。
This decline is mainly due to reduced sales in the Office Depot Division, which had 58 fewer retail locations and fewer transactions than the previous year, along with lower ODP Business Solutions Division sales.
这一下降主要是由于Office Depot（欧迪办公）部门的销售减少，比去年减少了58家零售门店和较少的交易，以及ODP商业解决方案部门销售下降。
Adjusted operating income was $33 million, down from $67 million in the second quarter of 2023.
调整后的营业利润为3300万美元，低于2023年第二季度的6700万美元。
"While we are pacing below our prior expectations for the year, we are not standing still. We're taking actions to improve our top-line trajectory and we remain focused on capturing the long-term opportunities derived by our strong value proposition, solid balance sheet, and flexible foundation," said Gerry Smith, chief executive officer of ODP.
欧迪办公的首席执行官Gerry Smith表示：“虽然我们的年度业绩低于预期，但我们不会止步不前。我们正在采取措施改善我们的业务增长，并致力于捕捉我们强有力的价值主张，健康的资产负债表和灵活的基础设施所带来的长期机遇。”
"We have several prospects at both ODP Business Solutions and Veyer that we expect to close in the second half that will boost revenue growth velocity as we exit this year," Smith added.
“我们在ODP商业解决方案和Veyer双方都有几个前景，预计将在下半年完成，这将提高我们的收入增长速度，使我们退出今年。”Smith补充说。
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此外，分析师表示，尽管业绩不佳，美国股市有望延续涨势，波动率指数（VIX）回落至抛售前水平。他表示，回调是“增长恐慌”，而不是“灾难”。
The company registered adjusted EBITDA of $57 million, compared to $95 million in the year-ago period.
该公司注册的调整后EBITDA为5700万美元，而去年同期为9500万美元。
Total available liquidity was $831 million, including $190 million in cash and cash equivalents, with $10 million classified under current assets held for sale from the Varis Division at quarter-end.
总可用流动性为83100万美元，其中现金及现金等价物为19000万美元，而第四季度末Varis部门的流动资产中有1000万美元被归类为待售流动资产。
"In addition to our efforts under Project Core, which we expect will create over $100 million in annual cost savings when fully implemented, we are executing on initiatives to accelerate sales pipeline conversion, drive additional avenues for growth with existing customers, and leverage our deep customer relationships to solve more of their procurement challenges," Smith added.
Smith补充说：“除了我们在Core项目下的努力，我们预计在完全实施时将创造超过1亿美元的年度成本节约外，我们还在执行加快销售渠道转换的倡议，为现有客户开拓更多的增长途径，并利用我们深厚的客户关系解决更多的采购挑战。”
Outlook: ODP has revised its FY24 outlook, lowering the adjusted EPS forecast to $4.25-$5.00 from $6.30-$6.60, below the $6.37 estimate, and reducing the revenue forecast to at least $7 billion from $7.44 billion, compared to the $7.39 billion estimate.
展望：ODP已调低其FY24展望，将调整后的EPS预测由6.30-6.60美元降至4.25-5.00美元，低于6.37美元的预期，并将营业收入预测降至至少70亿美元，比73.9亿美元的预期要低。
Price Action: ODP shares are trading lower by 33.8% to $25.11 at last check Wednesday.
价格动态：ODP股票在周三最后交易时下跌33.8%，至25.11美元。
Photo via Wikimedia Commons
照片通过Wikimedia Commons
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