ACCO Brands Sees FY24 Adj. EPS $1.07-$1.11 Vs $1.20 Est.; Sales Down 2.0%-5.0%
Portfolio Pulse from Benzinga Newsdesk
ACCO Brands forecasts its FY24 adjusted EPS to be between $1.07 and $1.11, below the estimated $1.20. The company also expects sales to decrease by 2.0% to 5.0%.
February 22, 2024 | 9:47 pm
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ACCO Brands forecasts a lower FY24 adjusted EPS of $1.07-$1.11 compared to the $1.20 estimate and expects a sales decline of 2.0%-5.0%.
The forecasted decrease in both EPS and sales for FY24 suggests a negative outlook for ACCO Brands, likely leading to a short-term negative impact on its stock price. The lower-than-expected EPS forecast, in particular, could disappoint investors and analysts, potentially resulting in a decrease in stock price as market sentiment adjusts to the new projections.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100