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Acco Brands Beats Q2 Earnings Estimates
Acco Brands (NYSE: ACCO) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.38 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 19.35%. A quarter ago, it was expected that this maker of office supplies would post earnings of $0.02 per share when it actually produced earnings of $0.03, delivering a surprise of 50%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Acco, which belongs to the Zacks Office Supplies industry, posted revenues of $438.3 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.19%. This compares to year-ago revenues of $493.6 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Acco shares have lost about 16% ...