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.
歐迪辦公（NASDAQ：ODP）的股票在週三交易時下跌，該公司發佈了第二季度業績。
The company reported adjusted earnings per share of 56 cents, missing the analyst consensus of $1.20.
公司報告調整後每股收益爲56美分，低於分析師預測的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.
總銷售額達17.17億美元，同比下降10%。 銷售額低於17.62億美元的街頭預期。
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.
這一下降主要是由於Office Depot（歐迪辦公）部門的銷售減少，比去年減少了58家零售門店和較少的交易，以及ODP商業解決方案部門銷售下降。
Adjusted operating income was $33 million, down from $67 million in the second quarter of 2023.
調整後的營業利潤爲3300萬美元，低於2023年第二季度的6700萬美元。
"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.
歐迪辦公的首席執行官Gerry Smith表示：「雖然我們的年度業績低於預期，但我們不會止步不前。我們正在採取措施改善我們的業務增長，並致力於捕捉我們強有力的價值主張，健康的資產負債表和靈活的基礎設施所帶來的長期機遇。」
"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.
「我們在ODP商業解決方案和Veyer雙方都有幾個前景，預計將在下半年完成，這將提高我們的收入增長速度，使我們退出今年。」Smith補充說。
Also Read: US Stocks Set To Extend Gains Despite Mixed Earnings, VIX Dips Back Toward Pre-Sell-Off Levels: Analyst Says Pullback Is A 'Growth Scare' And Not 'Calamity'
此外，分析師表示，儘管業績不佳，美國股市有望延續漲勢，波動率指數（VIX）回落至拋售前水平。他表示，回調是「增長恐慌」，而不是「災難」。
The company registered adjusted EBITDA of $57 million, compared to $95 million in the year-ago period.
該公司註冊的調整後EBITDA爲5700萬美元，而去年同期爲9500萬美元。
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.
總可用流動性爲83100萬美元，其中現金及現金等價物爲19000萬美元，而第四季度末Varis部門的流動資產中有1000萬美元被歸類爲待售流動資產。
"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補充說：「除了我們在Core項目下的努力，我們預計在完全實施時將創造超過1億美元的年度成本節約外，我們還在執行加快銷售渠道轉換的倡議，爲現有客戶開拓更多的增長途徑，並利用我們深厚的客戶關係解決更多的採購挑戰。」
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已調低其FY24展望，將調整後的EPS預測由6.30-6.60美元降至4.25-5.00美元，低於6.37美元的預期，並將營業收入預測降至至少70億美元，比73.9億美元的預期要低。
Price Action: ODP shares are trading lower by 33.8% to $25.11 at last check Wednesday.
價格動態：ODP股票在週三最後交易時下跌33.8%，至25.11美元。
Photo via Wikimedia Commons
照片通過Wikimedia Commons
- Move Over Yen, Yuan Carry Trades Could Be Next Ticking Bomb, Warns Strategists: 'But It's Below The Danger Levels We Monitor'
- 日元讓位，元可回報交易可能是下一個滴滴，策略師警告：「但它低於我們監測的危險水平」