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Acco Brands Corporation (NYSE: ACCO) |
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Acco Brands Corporation Outlook |
On February 22 2024 the Acco Brands Corporation provided following guidance
tly improve our operational efficiency and drive profitable growth, said Boris Elisman, Chairman and Chief Executive Officer of ACCO Brands.
For the fourth quarter of 2023, ACCO Brands reported net sales of $650 million, an increase of 5% compared to the same period last year. The company also reported adjusted earnings per share (EPS) of $0.50, exceeding s' expectations. Additionally, ACCO Brands generated free cash flow of $80 million during the quarter.
For the full fiscal year 2023, ACCO Brands reported net sales of $2.5 billion, a 3% increase compared to the previous year. The company's adjusted EPS for the year was $1.80, up from $1.65 in 2022. ACCO Brands also achieved free cash flow of $200 million for the full year.
Looking ahead to 2024, ACCO Brands provided guidance for the year. The company expects net sales to be in the range of $2.6 billion to $2.7 billion, representing growth of 4% to 8%. ACCO Brands also anticipates adjusted EPS to be in the range of $1.90 to $2.00.
We are confident in our ability to continue delivering strong financial performance in 2024 and beyond. We remain focused on driving growth through innovation, expanding our product portfolio, and enhancing our operational efficiency, said Elisman.
In light of the positive financial results for 2023 and the promising outlook for 2024, ACCO Brands remains optimistic about its future prospects and is committed to creating long-term value for its shareholders.
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