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Acco: 2Q Earnings Snapshot

July 30, 2019

LAKE ZURICH, Ill. (AP) _ Acco Brands Corp. (ACCO) on Tuesday reported second-quarter profit of $35.9 million.

On a per-share basis, the Lake Zurich, Illinois-based company said it had profit of 35 cents. Earnings, adjusted for non-recurring costs, were 36 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The maker of office supplies posted revenue of $518.7 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $493.9 million.

Acco expects full-year earnings in the range of $1.15 to $1.20 per share.

Acco shares have increased 20% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $8.15, a decrease of 40% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACCO at https://www.zacks.com/ap/ACCO

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