Office Depot (ODP) Reports In-Line Q1 EPS, Beats on Revneues; Boosts FY18 Revenues Outlook

Office Depot (NASDAQ: ODP) reported Q1 EPS of $0.08, in-line with the analyst estimate of $0.08. Revenue for the quarter came in at $2.83 billion versus the consensus estimate of $2.72 billion.

• Q1 2018 Reported Sales of $2.8 Billion
• Services Revenue Increases to 14% of Reported Sales
• Business Solutions Division (BSD) Returns to Growth
• Q1 2018 Operating Income of $77 Million
• Q1 2018 Operating Cash Flow of $207 Million
• Increases Full-Year Outlook for 2018

Outlook

“I am encouraged by the progress we’ve made so far this year to strengthen our core businesses and expand the service and subscription offerings to our B2B and business-minded customers,” said Gerry Smith. “Our strategic growth initiatives are gaining traction and we expect to continue building momentum throughout the year on this transformation journey to deliver long-term, sustainable growth.”

Due to the favorable results achieved in the first quarter of 2018, the Company is increasing its 2018 full-year outlook for sales, adjusted operating income and free cash flow.

GUIDANCE:

Office Depot sees FY2018 revenue of $10.8 billion, versus the consensus of $10.75 billion.

For earnings history and earnings-related data on Office Depot (ODP) click here.

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