Exhibit 99.1 News Release ACCO BRANDS REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS AND PROVIDES OUTLOOK FOR 2024 Company Exceeds Full Year 2023 Outlook Full Year • Reported net sales of $1.833 billion, with gross margin expanding 420 basis points • Operating income of $45 million; adjusted operating income grew 17% to $205 million • Loss per share of $(0.23); adjusted EPS of $1.09, above the Company's outlook • Net operating cash flow improved $51 million, generated adjusted free cash flow of $118 mill ...

Core Viewpoint - Acco Brands reported better-than-expected fourth-quarter earnings but provided disappointing guidance for 2024, leading to a significant drop in share price [1][2]. Group 1: Financial Performance - Acco Brands earned $0.39 per share in the fourth quarter, exceeding Wall Street's estimate of $0.33 per share, with sales of $488.6 million compared to the expected $476 million [2]. - However, fourth-quarter sales declined by 2.2% year-over-year and 5.9% for the entire year, attributed to a challenging macroeconomic environment and lower-than-expected return-to-office trends [2]. - The company forecasts a sales decline of 2% to 5% for 2024 and first-quarter earnings between $0.01 and $0.04 per share, while Wall Street had predicted $0.08 per share [2]. Group 2: Strategic Initiatives - Acco Brands is implementing a multiyear restructuring program aimed at cutting annual costs by at least $60 million, which includes shedding plants and reducing headcount [3]. - Despite revenue declines, the company improved its gross margin by 420 basis points in 2023 and increased operating cash flow by $51 million to $128.7 million [3]. Group 3: Investment Considerations - Following the decline in share price, Acco Brands offers a dividend yield of 5.42%, presenting a potential value proposition for investors looking for a turnaround [3]. - There are ongoing risks related to the post-pandemic office and work environment, but the company appears to provide a better value proposition post-earnings [3].

Financial Data and Key Metrics Changes - Reported sales for Q4 2023 decreased by 2.5% year-over-year, while comparable sales excluding foreign exchange were down 5% [20] - Adjusted EPS for Q4 was $0.39, up from $0.32 in 2022, reflecting a 31% increase in adjusted operating income [21] - Consolidated net leverage ratio improved to 3.4x, down from 4.2x at the end of 2022 [7][26] Business Line Data and Key Metrics Changes - North America reported and comparable sales both declined by 11%, primarily due to lower demand for computer accessories [22] - EMEA reported sales declined by 6%, with comparable sales down 7%, driven by lower sales of technology accessories [24] - International segment saw reported sales increase by 8% and comparable sales up by 5%, led by recovery in Latin America [25] Market Data and Key Metrics Changes - The demand environment in North America and EMEA remained muted, with office occupancy rates stabilizing at 40% to 50% of pre-pandemic levels [12] - The gaming accessories market experienced uneven demand throughout 2023, impacted by lower consumer spending and increased competition [10][24] Company Strategy and Development Direction - The company is implementing a multiyear cost restructuring program targeting at least $60 million in annual savings by late 2026 [13][19] - Focus on innovation and new product development is emphasized, particularly in computer and gaming accessories [15][56] - The company is exiting low-margin businesses, particularly in the North American segment, to focus on more value-added revenue streams [46] Management's Comments on Operating Environment and Future Outlook - Management anticipates softer sales in 2024 due to muted consumer demand and uncertainty in business spending [28] - The company expects a modest recovery in technology spending, particularly in the second half of 2024 [28][36] - Management remains cautious but optimistic about the potential for recovery in the PC market and gaming accessories [36] Other Important Information - A noncash goodwill impairment charge of $90 million was recognized, primarily affecting the North America segment [20] - Adjusted SG&A expenses increased to $102 million in Q4, up from $93 million, due to a normalized level of incentive compensation [21] Q&A Session Summary Question: Was the goodwill impairment tied to any specific acquisition? - The impairment was broad-based across the portfolio, reflecting challenges in forecasting and higher WACC due to interest rates [33] Question: What gives confidence in the outlook for technology spending? - Signs of life in parts of the technology accessories business and historical trends suggest a rebound is likely [36] Question: What drove the better-than-expected fourth-quarter top line? - Demand moderated slightly in the fourth quarter, contributing to better-than-expected results [42] Question: Have there been significant shifts to generic products from branded? - No significant shifts in market share have been observed; brands have held up well [44] Question: What specific low-margin businesses is the company exiting? - The exits are predominantly in private-label businesses and certain wellness products impacted by pandemic pricing pressures [46][47] Question: What is the nature of the new competition in gaming accessories? - Increased competition is from both existing competitors becoming more aggressive and new entrants into certain markets [48] Question: How were POS in traditional office products in Q4? - POS moderated in Q4, reflecting improvement in trends across key business categories [54] Question: What categories is the company focusing on for innovation? - The company is focusing on computer accessories and gaming accessories for new product development [56]

ACCO Brands | 4Q Earnings Conference Call | February 23, 2024 Forward-Looking Statements Statements contained herein, other than statements of historical fact, particularly those anticipating future financial performance, business prospects, growth, strategies, business operations and similar matters, results of operations, liquidity and financial condition, and those relating to cost reductions and anticipatedpre-tax savings and restructuring costs are “forward-looking statements” within the meaning of the ...

Acco Brands (ACCO) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.32 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 18.18%. A quarter ago, it was expected that this maker of office supplies would post earnings of $0.23 per share when it actually produced earnings of $0.24, delivering a surprise of 4.35%.Over the last four quarters, ...

LAKE ZURICH, Ill.--(BUSINESS WIRE)--ACCO Brands Corporation (NYSE: ACCO) today reported financial results for the fourth quarter and fiscal year ended December 31, 2023. "I am pleased to report that our fourth quarter financial performance, including our reported net sales and adjusted EPS and free cash flow, was better than expected. During the year, we successfully executed against our 2023 priorities and implemented our previously announced restructuring plans, which enabled us to significantly expand ...

Part I [Item 1. Business](index=4&type=section&id=ITEM%201.%20BUSINESS) ACCO Brands is a global product company with approximately 77% of its 2023 net sales from brands holding top market positions - ACCO Brands is a leading global product company with approximately **77% of its 2023 net sales** from brands that are No. 1 or No. 2 in their respective categories[9](index=9&type=chunk) - The company's business strategy prioritizes sustainable organic sales growth, expanding customer relationships, improving operating margins, and managing declining product categories[10](index=10&type=chunk) - Effective January 1, 2024, the company will reorganize its three operating segments into two, **Americas and International**, to simplify its structure and reduce costs[15](index=15&type=chunk) - As of December 31, 2023, the company had approximately **5,600 employees** worldwide and achieved its diversity goal of **33% female leaders** at the director level and above[27](index=27&type=chunk)[28](index=28&type=chunk) Sales Percentage by Operating Segment (2021-2023) | Operating Segment | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | ACCO Brands North America | 48% | 51% | 51% | | ACCO Brands EMEA | 30% | 30% | 33% | | ACCO Brands International | 22% | 19% | 16% | [Item 1A. Risk Factors](index=10&type=section&id=ITEM%201A.%20RISK%20FACTORS) The company faces material risks from customer concentration, global economic conditions, foreign currency exposure, supply chain disruptions, and legal challenges - A significant portion of net sales comes from a limited number of large customers, with the top ten accounting for **41.6% of net sales in 2023**[46](index=46&type=chunk)[47](index=47&type=chunk) - The company has significant foreign currency exposure, with approximately **57% of its 2023 net sales** transacted in currencies other than the U.S. dollar[50](index=50&type=chunk) - The company faces risks from its multi-year restructuring and cost savings program aiming for at least **$60 million in annualized pre-tax savings** by 2026[73](index=73&type=chunk)[74](index=74&type=chunk) - **Inflation** and changes in the cost of raw materials, transportation, and labor continue to be a risk, which may not be fully mitigated by price increases[77](index=77&type=chunk)[79](index=79&type=chunk) - Goodwill and intangible asset impairment is a recurring risk, with non-cash goodwill impairment charges of **$89.5 million in 2023** and **$98.7 million in 2022**[68](index=68&type=chunk)[69](index=69&type=chunk) - The company faces significant legal and regulatory risks, including ongoing **tax assessments in Brazil** that could materially affect cash flow[109](index=109&type=chunk)[110](index=110&type=chunk) [Item 1C. Cybersecurity](index=22&type=section&id=ITEM%201C.%20CYBERSECURITY) The company manages cybersecurity threats through a comprehensive program aligned with the NIST framework and overseen by the Audit Committee - The company's cybersecurity risk management is integrated into its overall enterprise risk management program and is based on the **National Institute of Standards and Technology (NIST)** cybersecurity framework[124](index=124&type=chunk)[126](index=126&type=chunk) - Governance and oversight are managed by the **Audit Committee**, which receives regular updates from the Chief Information Officer and the Vice President, Global Cybersecurity[131](index=131&type=chunk)[132](index=132&type=chunk) - The company has not identified any cybersecurity incident that has **materially affected** or is reasonably likely to materially affect its business, strategy, results of operations, or financial condition[135](index=135&type=chunk) [Item 2. Properties](index=25&type=section&id=ITEM%202.%20PROPERTIES) ACCO Brands operates a global portfolio of owned and leased properties for its manufacturing, distribution, and office functions - The company operates principal facilities across its three segments, North America, EMEA, and International, with a combination of **owned and leased properties** for manufacturing, distribution, and office use[137](index=137&type=chunk)[138](index=138&type=chunk) - Two manufacturing/distribution facilities, one in Sidney, New York, and one in Arcos de Valdevez, Portugal, are **scheduled to be closed in 2024**[138](index=138&type=chunk)[139](index=139&type=chunk) [Item 3. Legal Proceedings](index=26&type=section&id=ITEM%203.%20LEGAL%20PROCEEDINGS) The company faces various legal claims, with the Brazil Tax Assessments posing the most significant potential material risk - The company is party to various lawsuits, mainly concerning alleged patent infringement, which are not expected to have a material adverse effect, with the notable exception of the **Brazil Tax Assessments**[140](index=140&type=chunk)[141](index=141&type=chunk) - The Brazil Tax Assessments, related to a 2012 acquisition, challenge the tax deduction of goodwill and an adverse outcome could **materially affect the company's cash flow**[110](index=110&type=chunk)[141](index=141&type=chunk) Part II [Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=27&type=section&id=ITEM%205.%20MARKET%20FOR%20REGISTRANT'S%20COMMON%20EQUITY,%20RELATED%20STOCKHOLDER%20MATTERS%20AND%20ISSUER%20PURCHASES%20OF%20EQUITY%20SECURITIES) The company's stock trades on the NYSE, and while no shares were repurchased in 2023, the quarterly dividend was maintained - The company **did not repurchase any of its common stock** in the open market during the year ended December 31, 2023, with approximately **$105.6 million** remaining authorized for future repurchases[148](index=148&type=chunk)[149](index=149&type=chunk) Quarterly Dividends Per Share (2021-2023) | Quarter | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | First | $0.075 | $0.075 | $0.065 | | Second | $0.075 | $0.075 | $0.065 | | Third | $0.075 | $0.075 | $0.065 | | Fourth | $0.075 | $0.075 | $0.075 | | **Total** | **$0.300** | **$0.300** | **$0.270** | [Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=ITEM%207.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) In 2023, the company experienced a 5.9% sales decline to $1.83 billion amid macroeconomic challenges, but improved gross margins and operating income [Consolidated Results of Operations](index=30&type=section&id=Consolidated%20Results%20of%20Operations) Net sales fell 5.9% to $1.83 billion in 2023 due to volume decline, though gross margin improved significantly, resulting in a net loss of $21.8 million - The **5.9% decrease in net sales** was driven by a 13.3% decline in volume, partially offset by a 6.8% increase from global pricing actions and a 0.6% favorable impact from foreign exchange[163](index=163&type=chunk) - A non-cash goodwill impairment charge of **$89.5 million** was recorded for the North America reporting unit in 2023, compared to a **$98.7 million** charge in 2022[168](index=168&type=chunk) Consolidated Financial Performance (2023 vs. 2022) | Metric (in millions) | 2023 | 2022 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $1,832.8 | $1,947.6 | $(114.8) | (5.9%) | | Gross Profit | $598.3 | $552.3 | $46.0 | 8.3% | | Gross Profit Margin | 32.6% | 28.4% | N/A | 4.2 pts | | Operating Income | $44.7 | $34.8 | $9.9 | 28.4% | | Goodwill Impairment | $89.5 | $98.7 | $(9.2) | (9.3%) | | Net Loss | $(21.8) | $(13.2) | $(8.6) | 65.2% | | Diluted Loss Per Share | $(0.23) | $(0.14) | $(0.09) | 64.3% | [Segment Net Sales and Operating Income](index=33&type=section&id=Segment%20Net%20Sales%20and%20Operating%20Income) Segment performance varied, with sales declining in North America and EMEA but increasing in the International segment, which also saw strong profit growth ACCO Brands North America Performance (2023 vs. 2022) | Metric (in millions) | 2023 | 2022 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $887.2 | $998.0 | $(110.8) | (11.1%) | | Segment Operating Loss | $(5.9) | $(4.9) | $(1.0) | 20.4% | ACCO Brands EMEA Performance (2023 vs. 2022) | Metric (in millions) | 2023 | 2022 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $547.2 | $580.3 | $(33.1) | (5.7%) | | Segment Operating Income | $38.7 | $21.7 | $17.0 | 78.3% | ACCO Brands International Performance (2023 vs. 2022) | Metric (in millions) | 2023 | 2022 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $398.4 | $369.3 | $29.1 | 7.9% | | Segment Operating Income | $60.7 | $50.5 | $10.2 | 20.2% | [Liquidity and Capital Resources](index=34&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained adequate liquidity through cash from operations and its credit facility, remaining in compliance with all debt covenants - As of December 31, 2023, the company had **$66.4 million in cash** and **$565.7 million available for borrowing** under its revolving credit facility[182](index=182&type=chunk) - The company was in compliance with its financial covenants as of December 31, 2023, with a **Consolidated Leverage Ratio of 3.42 to 1.00** and an **Interest Coverage Ratio of 5.18 to 1.00**[188](index=188&type=chunk) - In January 2024, the company announced a multi-year restructuring program expected to generate at least **$60.0 million in annualized pre-tax cost savings** when fully implemented[193](index=193&type=chunk) Cash Flow Summary (2023 vs. 2022) | Cash Flow Activity (in millions) | 2023 | 2022 | | :--- | :--- | :--- | | Operating Activities | $128.7 | $77.6 | | Investing Activities | $(11.2) | $(9.3) | | Financing Activities | $(117.7) | $(48.3) | [Critical Accounting Policies](index=38&type=section&id=Critical%20Accounting%20Policies) Key policies involving significant management judgment include revenue recognition, goodwill impairment testing, and accounting for employee benefit plans - **Customer Program Costs**, including rebates and promotional allowances, are a critical estimate recognized as a deduction to gross sales[207](index=207&type=chunk) - Goodwill is tested for impairment annually or when a triggering event occurs, which in Q4 2023 led to an **$89.5 million impairment charge** for the North America reporting unit[215](index=215&type=chunk) - Effective January 1, 2023, the **Leitz® trade name** was changed from an indefinite-lived intangible to an amortizable asset with a 30-year life[212](index=212&type=chunk) - Accounting for employee benefit plans requires significant **actuarial assumptions**, including discount rates and rates of return, which can materially affect recorded obligations and expenses[218](index=218&type=chunk) [Item 7A. Quantitative and Qualitative Disclosures About Market Risk](index=43&type=section&id=ITEM%207A.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company is exposed to market risks from foreign currency exchange rates and interest rate changes, which it manages through hedging and a mixed-rate debt portfolio - The company uses forward foreign currency contracts to mitigate risks from fluctuating currencies, with a notional amount of outstanding contracts at **$182.5 million** as of December 31, 2023[234](index=234&type=chunk) - Interest rate risk is managed through a mix of fixed and variable-rate debt, including **$575.0 million in Senior Unsecured Notes** with a fixed rate of 4.25%[184](index=184&type=chunk)[238](index=238&type=chunk) [Item 8. Financial Statements and Supplementary Data](index=45&type=section&id=ITEM%208.%20FINANCIAL%20STATEMENTS%20AND%20SUPPLEMENTARY%20DATA) This section presents the consolidated financial statements, which received an unqualified opinion from the independent auditor, KPMG LLP - The independent auditor, KPMG LLP, issued an **unqualified opinion** on the consolidated financial statements and the effectiveness of internal control over financial reporting[243](index=243&type=chunk)[244](index=244&type=chunk) - KPMG identified two critical audit matters: the write-down of certain **finished goods inventory** and the **goodwill impairment assessment** of the North America reporting unit[251](index=251&type=chunk) Consolidated Balance Sheet Highlights (As of Dec 31) | (in millions) | 2023 | 2022 | | :--- | :--- | :--- | | **Assets** | | | | Total Current Assets | $855.4 | $882.3 | | Goodwill | $590.0 | $671.5 | | Total Assets | $2,644.8 | $2,794.7 | | **Liabilities & Equity** | | | | Total Current Liabilities | $542.0 | $589.0 | | Long-term Debt, net | $882.2 | $936.5 | | Total Liabilities | $1,857.8 | $1,984.6 | | Total Stockholders' Equity | $787.0 | $810.1 | Consolidated Statements of (Loss) Income Highlights (Year Ended Dec 31) | (in millions) | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | Net Sales | $1,832.8 | $1,947.6 | $2,025.3 | | Gross Profit | $598.3 | $552.3 | $614.9 | | Operating Income | $44.7 | $34.8 | $151.0 | | Goodwill Impairment | $89.5 | $98.7 | $0.0 | | Net (Loss) Income | $(21.8) | $(13.2) | $101.9 | [Item 9A. Controls and Procedures](index=95&type=section&id=ITEM%209A.%20CONTROLS%20AND%20PROCEDURES) Management concluded that the company's disclosure controls, procedures, and internal control over financial reporting were effective as of year-end 2023 - Based on an evaluation as of December 31, 2023, the Chief Executive Officer and Chief Financial Officer concluded that the company's **disclosure controls and procedures were effective**[482](index=482&type=chunk) - Management concluded that the company's **internal control over financial reporting was effective** as of December 31, 2023, based on the COSO framework[486](index=486&type=chunk) Part III [Item 10. Directors, Executive Officers and Corporate Governance](index=97&type=section&id=ITEM%2010.%20DIRECTORS,%20EXECUTIVE%20OFFICERS%20AND%20CORPORATE%20GOVERNANCE) Information regarding directors, executive officers, and corporate governance is incorporated by reference from the company's 2024 Definitive Proxy Statement - Information regarding directors, executive officers, and corporate governance is **incorporated by reference** from the company's 2024 Definitive Proxy Statement[489](index=489&type=chunk) [Item 11. Executive Compensation](index=97&type=section&id=ITEM%2011.%20EXECUTIVE%20COMPENSATION) All required information concerning executive compensation is incorporated by reference from the company's 2024 Definitive Proxy Statement - Information regarding executive compensation is **incorporated by reference** from the company's 2024 Definitive Proxy Statement[491](index=491&type=chunk) [Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=97&type=section&id=ITEM%2012.%20SECURITY%20OWNERSHIP%20OF%20CERTAIN%20BENEFICIAL%20OWNERS%20AND%20MANAGEMENT%20AND%20RELATED%20STOCKHOLDER%20MATTERS) This section provides details on equity compensation plans, with other ownership information incorporated by reference from the 2024 Proxy Statement Equity Compensation Plan Information (as of Dec 31, 2023) | Plan Category | Securities to be Issued Upon Exercise | Weighted-Average Exercise Price | Securities Remaining for Future Issuance | | :--- | :--- | :--- | :--- | | Equity compensation plans approved by security holders | 6,625,226 | $9.26 | 7,327,731 | [Item 13. Certain Relationships and Related Transactions, and Director Independence](index=98&type=section&id=ITEM%2013.%20CERTAIN%20RELATIONSHIPS%20AND%20RELATED%20TRANSACTIONS,%20AND%20DIRECTOR%20INDEPENDENCE) All required information concerning related party transactions and director independence is incorporated by reference from the 2024 Proxy Statement - Information regarding certain relationships, related transactions, and director independence is **incorporated by reference** from the company's 2024 Definitive Proxy Statement[495](index=495&type=chunk) [Item 14. Principal Accountant Fees and Services](index=98&type=section&id=ITEM%2014.%20PRINCIPAL%20ACCOUNTANT%20FEES%20AND%20SERVICES) All required information concerning principal accountant fees and services is incorporated by reference from the 2024 Proxy Statement - Information regarding principal accountant fees and services is **incorporated by reference** from the company's 2024 Definitive Proxy Statement[496](index=496&type=chunk) Part IV [Item 15. Exhibits and Financial Statement Schedules](index=98&type=section&id=ITEM%2015.%20EXHIBITS%20AND%20FINANCIAL%20STATEMENT%20SCHEDULES) This section lists the financial statements, schedules, and exhibits filed with or incorporated by reference into the Form 10-K - This section contains the index to the consolidated financial statements, the financial statement schedule for **Valuation and Qualifying Accounts**, and the Exhibit Index[497](index=497&type=chunk)[498](index=498&type=chunk)[499](index=499&type=chunk)

LAKE ZURICH, Ill.--(BUSINESS WIRE)--ACCO Brands Corporation (NYSE: ACCO) today announced that its board of directors has declared a quarterly cash dividend of $0.075 per share. The dividend will be paid on March 27, 2024, to stockholders of record as of the close of business on March 15, 2024. “ This is the Company’s 25th quarterly cash dividend since it began paying dividends in 2018. The Company’s dividend has become an important part of our capital allocation strategy and we remain committed to supporti ...

The market expects Acco Brands (ACCO) to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be release ...

LAKE ZURICH, Ill.--(BUSINESS WIRE)--ACCO Brands Corporation (NYSE: ACCO) today announced that it will release its fourth quarter and full year 2023 earnings after the market close on February 22, 2024. The Company will host a conference call and webcast to discuss the results on February 23 at 8:30 a.m. EST. The webcast can be accessed through the Investor Relations section of www.accobrands.com and will be available for replay. About ACCO Brands Corporation ACCO Brands, the Home of Great Brands Built by ...