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Acco Brands Corporation (NYSE: ACCO) is one of the world's largest suppliers of branded office products. With a robust portfolio of industry-leading brands such as AT-A-GLANCE®, Five Star®, Kensington®, Mead®, Swingline®, and many others, Acco Brands generates nearly $1.8 billion in annual revenue and markets its products in over 100 countries. The company operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International, offering a wide range of products including school notebooks, janitorial supplies, whiteboards, storage and organization products, and computer accessories.
Recent achievements include the launch of innovative Kensington docking stations that support the latest USB-C laptops, a multi-year cost savings program projected to save $60 million annually, and the introduction of the PowerA Lumectra RGB technology for Nintendo Switch controllers. Acco Brands is committed to enhancing shareholder value through continuous innovation, strategic cost reductions, and a strong focus on new product development.
Acco Brands is also dedicated to building a winning culture for its employees, providing global career opportunities in a dynamic and results-oriented environment. The company's financial health is reinforced by a significant improvement in operating cash flow and a reduced debt leverage ratio, demonstrating its resilience in overcoming market challenges.
For more information, visit www.accobrands.com or follow the company on their social media platforms.
ACCO Brands reported its Q4 and full year 2024 results. Full year net sales were $1.67 billion, down 9.1% from 2023, with comparable sales decreasing 8.0%. The company reported a net loss of $101.6 million, or $(1.06) per share, primarily due to non-cash impairment charges.
Key highlights include: gross margins expanded 70 basis points, net operating cash flow of $148 million, free cash flow of $132 million, and net debt reduction of $94 million. The company achieved approximately $25 million in cost savings during 2024 and increased its multi-year cost reduction program target to $100 million by 2026.
For 2025, ACCO expects comparable sales to decline 1.0% to 5.0%, with adjusted EPS projected between $1.00 to $1.05. Free cash flow is anticipated to be $105-115 million, with a consolidated leverage ratio of 3.0x to 3.3x.
ACCO Brands (NYSE: ACCO) has announced its board of directors' declaration of a quarterly cash dividend of $0.075 per share, payable on March 26, 2025, to stockholders of record as of March 14, 2025. This marks the company's 29th quarterly dividend since initiating dividend payments in 2018.
CEO Tom Tedford emphasized that the dividend has become a important component of ACCO's capital allocation strategy, supported by the company's robust free cash flow. At current stock prices, shareholders are receiving an approximate 6% annualized yield on their investment.
ACCO Brands (NYSE: ACCO) has announced it will release its fourth quarter and full year 2024 earnings after market close on February 20, 2025. The company will hold a conference call and webcast to discuss the results on February 21 at 8:30 a.m. EST. Investors can access the webcast through the Investor Relations section of the company's website at www.accobrands.com, where it will also be available for replay.
Kensington has launched a new Security Mount specifically designed for the latest Mac mini with M4 and M4 Pro chips. The mount serves as both a mounting bracket and security device, featuring a sturdy steel frame that can be mounted on, under, or alongside any solid surface. The product includes a resettable Kensington NanoSaver® combination lock for security.
The mount is custom-fitted to accommodate the new Mac mini's compact 5x5 inch design while maintaining easy access to all ports and the power button. Key features include flexible mounting options, custom fit design that doesn't block functionality, and a five-year warranty. The Security Mount is now available globally through Apple.com.
Swingline, the iconic office tools brand, marks its 100th anniversary in 2025, celebrating a century of innovation in workspace essentials. Founded in 1925 as the Parrot Speed Fastener Company, Swingline pioneered the first strip stapler in 1931, featuring innovative top-loading 'swing-opening' design that inspired its current name.
To commemorate this milestone, Swingline announces the launch of 37 new and refreshed products across seven product lines, demonstrating its commitment to meeting modern workplace needs. The brand continues to serve diverse environments, including hybrid offices, schools, healthcare facilities, and households.
The company's Rio Red 747® Business Stapler remains a bestseller and gained additional cultural significance after being featured in the 1999 film 'Office Space'. Swingline's focus continues to be on combining vintage-inspired designs with modern engineering and contemporary colors, maintaining its core principles of quality, durability, and innovation.
Swingline has launched a new lineup of Optima Electric Staplers, featuring five innovative models designed for enhanced efficiency and precision. The series includes the Optima 20, Optima 20 Compact, Optima 30 (coming soon), Optima 50, and Optima 60. Key features include QuickLoad technology, low-staple indicators, and advanced solenoid technology enabling up to 3x faster stapling compared to traditional models.
The staplers offer various capacities, with the Optima 60 capable of handling up to 60 sheets simultaneously. All models come with a 7-year warranty and 100% performance guarantee, available for purchase through major retailers including Amazon, Staples, and Office Depot.
Swingline announces a new collaboration with watercolor artist Leah Bisch to launch a line of designer metal staplers. The collection features two designs - Wildflowers and Tan Tiles - available on Amazon and Swingline.com, with upcoming availability on Staples.com. The staplers combine aesthetic appeal with functionality, featuring premium metal construction, gold-colored magazine, and 20-sheet stapling capacity. Each unit holds 210 staples and includes a low-staple indicator. The products come with a 1-year warranty and 100% performance guarantee.
ACCO Brands reported Q3 2024 results with net sales of $420.9 million, down 6.0% from $448.0 million in 2023. Earnings per share were $0.09, with adjusted EPS of $0.23. The company is on track to achieve over $20 million in cost savings for 2024 through its multi-year program. Net operating cash flow improved by $25 million, and the consolidated leverage ratio reduced to 3.5x. The company maintained its 2024 outlook, expecting reported sales to decline 8-9% with adjusted EPS of $1.04-$1.09. ACCO successfully refinanced its credit facilities, extending maturity to 2029.
ACCO Brands (NYSE: ACCO) has declared a quarterly cash dividend of $0.075 per share, payable on December 11, 2024, to stockholders of record as of November 15, 2024. This marks the company's 28th quarterly dividend since initiating payments in 2018. CEO Tom Tedford highlighted that the dividend, yielding approximately 6% annually at current stock prices, remains a important component of their capital allocation strategy, supported by the company's robust free cash flow.
ACCO Brands (NYSE: ACCO) has announced its upcoming third quarter 2024 earnings release and webcast schedule. The company will release its Q3 2024 earnings after the market close on October 31, 2024. Following this, ACCO Brands will host a conference call and webcast on November 1 at 8:30 a.m. EDT to discuss the results. Investors and interested parties can access the webcast through the Investor Relations section of the company's website at www.accobrands.com. The webcast will also be available for replay, allowing those unable to attend the live event to review the information at their convenience.
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