ODP Q1 Adj $1.05 Misses $1.66 Estimate, Sales $1.87B Miss $1.95B Estimate
Portfolio Pulse from Benzinga Newsdesk
ODP Corporation (NASDAQ:ODP) reported Q1 adjusted earnings of $1.05 per share, missing the consensus estimate of $1.66 by 36.75%, and a 41.01% decrease from last year's $1.78. Quarterly sales were $1.87 billion, below the $1.95 billion estimate, marking an 11.24% decrease from the previous year's $2.11 billion.
May 08, 2024 | 10:51 am
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NEGATIVE IMPACT
ODP Corporation reported lower than expected Q1 earnings and sales, missing analyst estimates and showing significant declines from the previous year.
Missing both earnings and sales estimates significantly, especially with such a large year-over-year decline, is likely to negatively impact investor sentiment and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100