The latest trading session saw ODP Corp. (ODP) ending at $22.50, denoting a -1.62% adjustment from its last day's close. This change lagged the S&P 500's 0.53% gain on the day. Meanwhile, the Dow gained 0.93%, and the Nasdaq, a tech-heavy index, added 0.22%.Prior to today's trading, shares of the office supply retailer had lost 4.95% over the past month. This has lagged the Retail-Wholesale sector's gain of 2.71% and the S&P 500's gain of 2.69% in that time.Analysts and investors alike will be keeping a clo ...

Company Performance - ODP Corp. closed at $22.35, unchanged from the previous session, underperforming the S&P 500 which gained 0.16% [1] - Over the past month, ODP shares have declined by 21%, significantly worse than the Retail-Wholesale sector's loss of 4.61% and the S&P 500's loss of 2.7% [1] Financial Expectations - Analysts expect ODP Corp. to report earnings of $0.80 per share, reflecting a year-over-year decline of 13.04% [2] - Revenue is anticipated to be $1.59 billion, indicating an 11.77% drop compared to the same quarter last year [2] Analyst Projections - Recent shifts in analyst projections for ODP Corp. should be monitored as they reflect short-term business trends [3] - Positive estimate revisions are seen as a sign of optimism regarding the company's business outlook [3] Valuation Metrics - ODP Corp. has a Forward P/E ratio of 5.13, which is below the industry average of 11.65, indicating it is trading at a discount [6] - The company has a PEG ratio of 0.37, compared to the industry average of 1.18, suggesting favorable valuation relative to expected earnings growth [6] Industry Context - The Retail - Miscellaneous industry, part of the Retail-Wholesale sector, has a Zacks Industry Rank of 142, placing it in the bottom 44% of over 250 industries [7] - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Group 1 - ODP Corp. closed at $22.12, with a daily increase of +0.55%, underperforming the S&P 500 which gained 1.26% [1] - Over the past month, ODP Corp. shares have decreased by 15.42%, significantly trailing the Retail-Wholesale sector's loss of 1.93% and the S&P 500's loss of 2.82% [1] Group 2 - ODP Corp. is expected to report an EPS of $0.80, reflecting a decline of 13.04% from the same quarter last year, with projected revenue of $1.59 billion, down 11.77% year-over-year [2] - Recent analyst estimates for ODP Corp. have remained stagnant, indicating a Zacks Rank of 5 (Strong Sell) [5] Group 3 - ODP Corp. has a Forward P/E ratio of 5.05, which is below the industry average of 12.03, suggesting a valuation discount [5] - The company has a PEG ratio of 0.36, compared to the industry average of 1.85, indicating lower expected earnings growth relative to its peers [6] Group 4 - The Retail - Miscellaneous industry, which includes ODP Corp., has a Zacks Industry Rank of 204, placing it in the bottom 19% of over 250 industries [6] - The Zacks Rank system indicates that the top 50% of rated industries outperform the bottom half by a factor of 2 to 1 [7]

Financial Data and Key Metrics Changes - The company generated total revenue of $1.8 billion in Q3 2024, down about 11% compared to the same quarter last year, primarily due to lower sales in Office Depot and ODP Business Solutions [20][21] - GAAP operating income was $102 million, compared to $108 million in the prior year, with adjusted operating income dropping to $41 million from $112 million [21][22] - Adjusted EBITDA was $62 million, down from $138 million in the previous year [22] - Adjusted net income from continuing operations was $24 million or $0.71 per diluted share, compared to $85 million or $2.17 per diluted share in the prior year [22] Business Line Data and Key Metrics Changes - ODP Business Solutions revenue was $916 million, down about 8% year-over-year, impacted by macroeconomic conditions and corporate layoffs [24][25] - Office Depot's revenue stood at $861 million, a 15% decline, driven by fewer stores and lower traffic during a competitive back-to-school season [27][28] - Veyer reported third-party revenue of over $14 million, a 30% increase year-over-year, while managing lower volumes from internal customers [30] Market Data and Key Metrics Changes - The overall retail industry saw a 5% decline in back-to-school demand compared to last year, affecting both B2C and B2B channels [8][9] - The company faced significant disruptions due to hurricanes, impacting customer activity and operations in major service areas [7][8] Company Strategy and Development Direction - The company is focusing on a strategic pivot to B2B, leveraging its supply chain and customer base to capture growth in adjacent high-value industry sectors, including hospitality [11][12] - A significant new B2B contract worth up to $1.5 billion over ten years was announced, marking a pivotal moment for the company [12][15] - The company is streamlining operations by selling its Varis Division, which simplifies its structure and reduces future capital commitments [15][31] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that Q3 performance was below expectations due to challenging macroeconomic conditions and competitive pressures [6][19] - There is optimism about stabilizing trends and new business wins, with a focus on capturing growth opportunities in the B2B space [19][39] - The company is amending its 2024 guidance, maintaining revenue expectations at approximately $7 billion but lowering adjusted EBITDA and operating income outlooks [35][36] Other Important Information - The company has a strong liquidity position with total liquidity of $728 million, consisting of cash and available credit [32] - Capital allocation strategy is shifting towards investing in core B2B resources, with a substantial reduction in share repurchases expected [17][33] Q&A Session Summary Question: Market share trends in Business Solutions and retail - Management believes they are holding their own in market share, citing a significant new B2B contract as evidence of stability despite challenges from hurricanes [42][43] Question: Why should the market not extrapolate recent performance into next year? - Management emphasized the trajectory change due to new contracts and ongoing stabilization in the market, which should not be overlooked [46][47] Question: Insights on new industry segments targeted - Management highlighted leveraging core strengths to penetrate growing markets like hospitality, with existing customer relationships aiding in this transition [52][53] Question: Impact of hurricanes on performance - Management noted the hurricanes had a substantial impact, but quantifying the exact effect is challenging due to the complexity of disruptions [61][62] Question: Free cash flow guidance visibility - Management indicated positive cash generation is expected in Q4, but uncertainty remains due to working capital shifts and investments [68][69]

THE OD CORPORATION Third Quarter 2024 Financial Results Safe Harbor Statement The Private Securities Litigation Reform Act of 1995, as amended, (the "Act"), provides protection from liability in private lawsuits for "forward-looking" statements made by public companies under certain circumstances, provided that the public company discloses with specificity the risk factors that may impact its future results. The Company wants to take advantage of the "safe harbor" provisions of the Act. Certain statements m ...

ODP Corp. (ODP) came out with quarterly earnings of $0.71 per share, missing the Zacks Consensus Estimate of $1.49 per share. This compares to earnings of $1.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -52.35%. A quarter ago, it was expected that this office supply retailer would post earnings of $1.13 per share when it actually produced earnings of $0.56, delivering a surprise of -50.44%.Over the last four quarters, th ...

Exhibit 99.1 CONTACT: Tim Perrott Investor Relations 561-438-4629 Tim.Perrott@theodpcorp.com The ODP Corporation Announces Third Quarter 2024 Results Third Quarter Revenue of $1.8 Billion with GAAP EPS of $2.04; Adjusted EPS of $0.71 Significant New Business Wins Improving Future Growth Profile Progress on B2B Pivot; Pursuing Core Opportunities in New Adjacent Industry Segments Company Repurchased Approximately $295 Million of Shares Year to Date Company Completes Varis Sale Subsequent to Quarter End Boca R ...

In the latest trading session, ODP Corp. (ODP) closed at $30.53, marking a -1.2% move from the previous day. This move lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, added 0.76%.Heading into today, shares of the office supply retailer had gained 8% over the past month, outpacing the Retail-Wholesale sector's loss of 0.42% and the S&P 500's gain of 1.47% in that time.Analysts and investors alike will be keeping a close eye on the performance of OD ...

The most recent trading session ended with ODP Corp. (ODP) standing at $31.36, reflecting a +0.71% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.4%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.63%.The the stock of office supply retailer has risen by 4.71% in the past month, leading the Retail-Wholesale sector's gain of 3.32% and the S&P 500's gain of 3.76%.The investment community will be paying c ...

The most recent trading session ended with ODP Corp. (ODP) standing at $30.14, reflecting a +0.3% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.77% for the day. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.Prior to today's trading, shares of the office supply retailer had gained 2.28% over the past month. This has lagged the Retail-Wholesale sector's gain of 5.56% and the S&P 500's gain of 4.87% in that t ...