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 ...

12 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-08454 ACCO Brands Corporation (Exact Name of Registrant as Specified in Its Charter) ...

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 ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Acco Brands (ACCO) , which belongs to the Zacks Office Supplies industry, could be a great candidate to consider.This maker of office supplies has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 17.69%.For the most recent quarter, Acco was expected ...

LAKE ZURICH, Ill.--(BUSINESS WIRE)--ACCO Brands Corporation (NYSE: ACCO) announces a multi-year restructuring and cost savings program, with anticipated annualized pre-tax cost savings of at least $60 million. The program incorporates initiatives to simplify and delayer the Company’s operating structure and reduce costs through headcount reductions, supply chain optimization, global footprint rationalization, and better leveraging of our sourcing capabilities. As a result of these actions, the Company will ...