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• Content META

  Title	ACCO Brands : 2Q 2025 Earnings Conference Call Press Release
  ID	12122710
  External ID	7938556458
  Author	Unknown
  Published Date	Aug. 1, 2025, 8:38 a.m.
  Summary	News Release ACCO BRANDS REPORTS SECOND QUARTER RESULTS Reported net sales of $395 million, within the Company's outlook Earnings per share of $0.31, adjusted earnings per share of $0.28, within out
  Tags	None
  URL	https://www.marketscreener.com/news/acco-brands-2q-2025-earnings-conference-call-press-release-ce7c5fd3d88cf624
  Sentiment	Negative: 0.96350    Neutral: 0.01409    Positive: 0.02241
  Relevance	0.03279

• Content Details

  Content ID	7748149
  Key	f104e703-86c9-4bc9-8742-a4270b7d7a5f
  Content	News Release ACCO BRANDS REPORTS SECOND QUARTER RESULTS Reported net sales of $395 million, within the Company's outlook Earnings per share of $0.31, adjusted earnings per share of $0.28, within outlook SG&A down compared to prior year Multi-year cost reduction program has yielded more than $40 million of savings Third quarter and full year 2025 outlook provided LAKE ZURICH, ILLINOIS, July 31, 2025 - ACCO Brands Corporation (NYSE: ACCO) today reported financial results for its second quarter and six-months ended June 30, 2025. "We reported second quarter net sales and adjusted EPS in line with our outlook. We felt the immediate disruption from the tariffs in April, with trends improving sequentially throughout the quarter. We continue to make progress on our multi-year cost reduction program realizing more than $40 million in cumulative cost savings since the plan's inception. Our flexible global supply chain is a competitive advantage as we navigate the evolving business environment," stated ACCO Brands' President and Chief Executive Officer, Tom Tedford. "We expect sales in the third quarter to moderately improve as economies stabilize, and benefit from the weakening dollar. Our momentum in new product development is accelerating, with an exciting pipeline of innovative products launching across multiple categories in the second half of the year. Our disciplined cost management and operational optimization efforts, position us well to drive enhanced long-term shareholder value as sales trends improve. We are building a resilient organization that is well-positioned to capitalize on opportunities as market conditions improve," concluded Mr. Tedford. Second Quarter Results Net sales were $394.8 million, down 9.9 percent from $438.3 million in 2024. Favorable foreign exchange increased sales by $2.6 million, or 0.6 percent. Comparable sales decreased 10.5 percent. Sales in the quarter were negatively impacted by disruptions in purchasing as tariffs were announced. The decline in net sales also reflects softer global demand for consumer and business products, partially offset by growth in gaming accessories. Operating income was $33.0 million versus operating loss of $111.2 million in 2024. The loss in 2024 was primarily due to non-cash impairment charges of $165.2 million related to goodwill and intangible assets within the Americas segment. Restructuring expense of $9.4 million compares to $0.3 million of reserve release in the prior year. Current year operating income benefited from a gain on sale of assets of $6.9 million. Adjusted operating income was $47.1 million compared to $64.6 million in 2024. The decline in adjusted operating income reflects lower sales volume and lower fixed-cost absorption which was partially offset by cost savings and lower incentive compensation expense. Net income was $29.2 million, or $0.31 per share, compared with prior-year net loss of $125.2 million, or $(1.29) per share. Both the current and prior year results reflect the items noted above in operating income. Current year net income was positively impacted as the Company settled the outstanding tax assessments in Brazil, resulting in a net discrete tax benefit of $13.4 million. Adjusted net income was $25.8 million compared with adjusted net income of $36.6 million in 2024, and adjusted earnings per share was $0.28 compared with $0.37 in 2024. Business Segment Results ACCO Brands Americas - Second quarter segment net sales of $248.5 million decreased 15.0 percent from $292.3 million in the prior year. Adverse foreign exchange reduced sales by 1.1 percent. Comparable sales were $251.6 million, down 13.9 percent versus the prior year. Net sales in the quarter were negatively impacted by disruptions in customer purchases as tariffs were announced and sales improved throughout the quarter. The decline in net sales is also attributable to softer demand for certain consumer and business products, partially offset by growth in gaming accessories. Second quarter operating income was $40.7 million compared to an operating loss of $108.7 million a year earlier. The prior year loss was primarily due to non-cash charges of $165.2 million related to the impairment of goodwill and intangible assets. Current year operating income benefited from a gain on sale of assets of $5.7 million. Adjusted operating income was $43.2 million, down from $63.2 million in the prior year. The decrease in adjusted operating income reflects lower sales volume, lower fixed-cost absorption and impacts from tariffs, partially offset by cost savings. ACCO Brands International - Second quarter segment net sales of $146.3 million increased 0.2 percent from $146.0 million in the prior year. Favorable foreign exchange increased sales by 3.9 percent. Comparable sales were $140.6 million, down 3.7 percent versus the prior year. Comparable sales declines reflect reduced demand for certain business products, partially offset by the benefit of price increases and the acquisition of Buro Seating, as well as growth in gaming accessories. Second quarter operating loss was $0.8 million, compared to an operating income of $7.8 million in the prior year. Restructuring expense associated with the multi-year cost reduction program of $8.6 million, compares to a reserve release of $0.3 million in the prior year. Adjusted operating income was $12.4 million compared with $11.7 million in the prior year. The increase in adjusted operating income reflects pricing actions, cost savings and lower incentive compensation expense, which more than offset the impact of lower sales volume. Six Month Results Net sales were $712.2 million, down 10.7 percent from $797.2 million in 2024. Adverse foreign exchange reduced sales by $9.1 million, or 1.1 percent. Comparable sales decreased 9.6 percent. Net sales declines reflect the impact from the tariff announcements, and softer global demand for consumer and business products and technology accessories categories. Operating income was $26.3 million versus operating loss of $105.3 million in 2024, primarily due to non-cash impairment charges of $165.2 million related to goodwill and intangible assets within the Americas segment in the prior year. Restructuring expense of $11.7 million, compares to reserve releases of $0.6 million in the prior year. Adjusted operating income was $54.0 million, down from $80.8 million in 2024. Adjusted operating income decline reflects lower sales volume which was partially offset by cost savings. Net income was $16.0 million, or $0.17 per share, compared with a net loss of $131.5 million, or $(1.37) per share, in 2024. Net income in the six-month period was positively impacted by the same items noted above for the second quarter. The prior year loss reflects the items noted above in operating income. Adjusted net income was $23.7 million compared with $39.2 million in 2024, and adjusted earnings per share were $0.25 per share compared with $0.40 per share in 2024. Capital Allocation and Dividend Year to date, operating cash flow was an outflow of $33.4 million versus an inflow of $2.6 million in the prior year. Adjusted free cash flow was an outflow of $23.7 million compared to an outflow of $2.3 million in the prior year. The Company's consolidated leverage ratio as of June 30, 2025 was 4.3x. Year to date, the Company paid dividends of $13.5 million and repurchased 3.2 million shares of common stock for $15.1 million. Effective July 29, 2025, the Company entered into an amendment to its bank credit agreement which increases its maximum Consolidated Leverage Ratio financial covenant through 2026. On July 25, 2025, ACCO Brands announced that its board of directors declared a regular quarterly cash dividend of $0.075 per share. The dividend will be paid on September 10, 2025 to stockholders of record at the close of business on August 22, 2025. Full Year 2025 and Third Quarter Outlook For the full year, the Company expects reported sales to be down in the range of 7.0% to 8.5%. Full year adjusted EPS is expected to be within a range of $0.83 to $0.90. The Company expects 2025 adjusted free cash flow to be approximately $100 million, which includes $17 million in cash proceeds from the sale of two owned facilities. In the third quarter, the Company expects reported sales to be down within a range of 5.0% to 8.0% and adjusted EPS within a range of $0.21 to $0.24. Both the full year and third quarter outlooks reflect a cautious view of the demand environment in reaction to evolving trade policies and continued softness in consumer and business discretionary spending. "While the demand environment remains soft due to evolving trade policy, we do expect trends to improve in the second half of the year. We are confident in our long-term strategy to improve revenue trends and optimize our cost structure and are executing well against our strategic initiatives. We remain optimistic about our future and are confident in our leading brands," concluded Mr. Tedford. Webcast At 8:30 a.m. ET on August 1, 2025, ACCO Brands Corporation will host a conference call to discuss the Company's second quarter 2025 results. The call will be broadcast live via webcast. The webcast can be accessed through the Investor Relations section of https://www.accobrands.com . The webcast will be in listen-only mode and will be available for replay following the event. About ACCO Brands Corporation ACCO Brands is the leader in branded consumer products that enable productivity, confidence and enjoyment while working, when learning and while playing. Our widely recognized brands, include AT-A-GLANCE®, Five Star®, Kensington®, Leitz®, Mead®, PowerA®, Swingline®, Tilibra® and many others. More information about ACCO Brands Corporation (NYSE: ACCO) can be found at https://www.accobrands.com Non-GAAP Financial Measures In addition to financial results reported in accordance with generally accepted accounting principles (GAAP), we have provided certain non-GAAP financial information in this earnings release to aid investors in understanding the Company's performance. Each non-GAAP financial measure is defined and reconciled to its most directly comparable GAAP financial measure in the "About Non-GAAP Financial Measures" section of this earnings release. Forward-Looking Statements Statements contained herein, other than statements of historical fact, particularly those anticipating future financial performance, business prospects, growth, strategies, business operations and similar matters, results of operations, liquidity and financial condition, and those relating to cost reductions and anticipated pre-tax savings and restructuring costs are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management based on information available to us at the time such statements are made. These statements, which are generally identifiable by the use of the words "will," "believe," "expect," "intend," "anticipate," "estimate," "forecast," "project," "plan," and similar expressions, are subject to certain risks and uncertainties, are made as of the date hereof, and we undertake no duty or obligation to update them. Forward-looking statements are subject to the occurrence of events outside the Company's control and actual results and the timing of events may differ materially from those suggested or implied by such forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. Investors and others are cautioned not to place undue reliance on forward-looking statements when deciding whether to buy, sell or hold the Company's securities. Our outlook is based on certain assumptions which we believe to be reasonable under the circumstances. These include, without limitation, assumptions regarding consumer demand, tariffs, global geopolitical and economic uncertainties, and fluctuations in foreign currency exchange rates; and the other factors described below. Attachments Original document Permalink Disclaimer ACCO Brands Corporation published this content on August 01, 2025 , and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT) , unedited and unaltered, on August 01, 2025 at 13:34 UTC
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  Data Source Name	Quantexa News (#5)
  Data Source Type	news
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