NYSE$ACCO
ACCO Brands Corporation · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported strong bottom-line results and improved cash flow due to prudent cost management and strategic improvements.
ACCO Brands reported Q2 2024 results with net sales of $438 million, down 11.2% year-over-year. The company is on track to deliver over $20 million in cost savings in 2024. Net operating cash flow improved by $42 million, and the company anticipates free cash flow of approximately $130 million for the full year. Loss per share was ($1.29), which includes impairment charges, while adjusted EPS was $0.37, above the company's outlook.
- Net sales were $438 million, a decrease of 11.2% compared to the prior year.
- Gross margin expanded by 150 basis points.
- The company is on track to deliver over $20 million in cost savings in 2024.
- Adjusted EPS was $0.37, above the company's outlook.
Headline financials
Revenue & EPS history
ACCO Brands · Revenue · Quarterly
$438M
Forward guidance
The Company is updating its full year 2024 outlook and providing a third quarter outlook. For the full year the Company now expects reported sales to be down in the range of 8.0% to 9.0%. Full year adjusted EPS is expected to be within a range of $1.04 to $1.09. The Company expects 2024 free cash flow of approximately $130 million with a year-end consolidated leverage ratio of approximately 3.0x to 3.2x. In the third quarter, the Company expects reported sales to be down in the range of 5.0% to 7.0%, and adjusted EPS within a range of $0.21 to $0.24.
Tailwinds
- Full year adjusted EPS is expected to be within a range of $1.04 to $1.09.
- The Company expects 2024 free cash flow of approximately $130 million
- Year-end consolidated leverage ratio of approximately 3.0x to 3.2x.
- Company expects reported sales to be down in the range of 5.0% to 7.0% for Q3.
- Adjusted EPS within a range of $0.21 to $0.24 for Q3.
Headwinds
- Reported sales to be down in the range of 8.0% to 9.0% for the full year.
- Softer global business and consumer demand for office products.
- Exit of lower margin business.
- Softer business and consumer demand for gaming accessories.
- Reviewing cost structure for additional cost reduction opportunities due to softer than anticipated sales.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+1.7%
Avg return
Earnings day
+0.2%
Avg return
5 days after
-0.4%
Avg return
30 days after
48%
31 / 65 earnings
Positive
+26.2%
Q3 2016
Best reaction
-19.1%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +23.1% | +25.5% | +23.7% | |
| Q4 2025 | -6.6% | -13.6% | -25.6% | |
| Q3 2025 | -6.9% | -4.6% | -12.0% | |
| Q1 2025 | -5.6% | -8.0% | -7.0% | |
| Q4 2024 | -17.4% | -17.6% | -21.4% | |
| Q3 2024 | +5.8% | +16.9% | +17.1% | |
| Q2 2024 | -9.0% | -9.0% | +7.2% | |
| Q1 2024 | +2.5% | +3.2% | +6.9% | |
| Q4 2023 | -13.4% | +8.0% | -4.2% | |
| Q3 2023 | -0.6% | -5.5% | +7.7% | |
| Q2 2023 | -4.5% | -7.3% | -13.2% | |
| Q1 2023 | +15.6% | +16.3% | +16.3% | |
| Q4 2022 | -3.6% | +1.4% | -11.4% | |
| Q3 2022 | +15.6% | +19.7% | +24.1% | |
| Q2 2022 | -8.8% | -2.2% | -20.7% | |
| Q1 2022 | -5.2% | -6.4% | -6.4% | |
| Q4 2021 | +8.4% | +10.2% | +2.6% | |
| Q3 2021 | -6.3% | -6.7% | -0.1% | |
| Q2 2021 | +8.8% | +8.1% | +14.8% | |
| Q1 2021 | +4.1% | +0.4% | +5.7% | |
| Q4 2020 | -6.3% | -7.6% | -2.4% | |
| Q3 2020 | -9.8% | -15.4% | +30.2% | |
| Q2 2020 | +1.9% | -5.0% | -3.6% | |
| Q1 2020 | -11.4% | -10.3% | -3.1% | |
| Q4 2019 | +13.2% | +7.1% | -32.7% | |
| Q3 2019 | -11.2% | -8.6% | -8.4% | |
| Q2 2019 | +19.9% | +18.1% | +13.6% | |
| Q1 2019 | -3.1% | -4.5% | -16.9% | |
| Q4 2018 | -2.4% | +0.5% | -3.1% | |
| Q3 2018 | -19.1% | -10.2% | -18.7% | |
| Q2 2018 | -6.6% | -5.9% | -9.6% | |
| Q1 2018 | -1.7% | -2.1% | +7.1% | |
| Q4 2017 | +23.3% | +22.4% | +19.3% | |
| Q3 2017 | +0.0% | -1.5% | +2.7% | |
| Q2 2017 | -9.4% | -6.4% | -6.0% | |
| Q1 2017 | -5.3% | -11.6% | -17.3% | |
| Q4 2016 | +8.9% | +7.8% | +0.8% | |
| Q3 2016 | +26.2% | +21.8% | +39.4% | |
| Q2 2016 | -10.7% | -11.2% | -10.1% | |
| Q1 2016 | +7.2% | — | — | |
| Q4 2015 | +9.4% | — | — | |
| Q3 2015 | -0.4% | — | — | |
| Q2 2015 | +12.4% | — | — | |
| Q1 2015 | -6.6% | — | — | |
| Q4 2014 | -6.2% | — | — | |
| Q3 2014 | +7.6% | — | — | |
| Q2 2014 | +9.8% | — | — | |
| Q1 2014 | +2.2% | — | — | |
| Q4 2013 | +2.4% | — | — | |
| Q3 2013 | -17.5% | — | — | |
| Q2 2013 | -6.7% | — | — | |
| Q1 2013 | -3.2% | — | — | |
| Q4 2012 | -4.6% | — | — | |
| Q3 2012 | +24.1% | — | — | |
| Q2 2012 | -17.1% | — | — | |
| Q1 2012 | +3.4% | — | — | |
| Q1 2011 | +3.4% | — | — | |
| Q4 2011 | +1.9% | — | — | |
| Q4 2009 | +1.9% | — | — | |
| Q3 2011 | +21.9% | — | — | |
| Q3 2010 | +21.9% | — | — | |
| Q4 2010 | +17.3% | — | — | |
| Q2 2011 | +17.3% | — | — | |
| Q2 2010 | +17.3% | — | — | |
| Q1 2010 | -2.0% | — | — |
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