ODP Cuts FY24 Outlook: Adj EPS From $6.30-$6.60 To $4.25-$5.00 vs. $6.37 Estimate, Revenue From $7.44B To Atleast $7B vs $7.39B Estimate
Portfolio Pulse from Benzinga Newsdesk
ODP Corporation has revised its FY24 outlook, lowering its adjusted EPS from $6.30-$6.60 to $4.25-$5.00 and revenue from $7.44B to at least $7B. The company cited underperformance in the first half of the year and an uncertain macroeconomic environment as reasons for the update.
August 07, 2024 | 10:55 am
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ODP Corporation has lowered its FY24 guidance, reducing adjusted EPS to $4.25-$5.00 from $6.30-$6.60 and revenue to at least $7B from $7.44B. The company attributes this to underperformance in the first half of the year and an uncertain macroeconomic environment.
The significant reduction in both EPS and revenue guidance indicates that ODP Corporation is facing challenges that could negatively impact its stock price in the short term. Investors are likely to react negatively to this news.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100