Welcome to our dedicated page for Acco Brands news (Ticker: ACCO), a resource for investors and traders seeking the latest updates and insights on Acco Brands stock.
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.
Kensington has announced the launch of the Pro Fit® Ergo KB675 EQ TKL Rechargeable Keyboard, a new product designed to reduce wrist and hand strain. The keyboard is compatible with Windows and macOS, featuring an ergonomic tenkeyless (TKL) design and secure connectivity for up to three devices. It has won the 2024 Red Dot Design award for product design. The keyboard includes video conferencing keys, customizable options with Kensington Konnect software, and a long-lasting rechargeable battery. Additionally, it has a sustainability focus, with 65% of its outer casing and keycaps made from post-consumer recycled content.
Kensington has launched the Elevated Stand for Surface, designed exclusively for the Microsoft Surface Pro and Surface Go. This sleek, portable riser enhances ergonomics, security, and productivity. It elevates the screen to eye level, supports tilt options for optimal viewing angles, and includes security features. Kensington's range of Designed for Surface (DfS) products also includes docking stations and other accessories that expand the capabilities of Surface devices. The Elevated Stand aims to reduce desktop clutter with magnetic storage and cable management. These accessories are available in North America through Kensington's store and partner sites.
ACCO Brands reported net sales of $359 million with a gross margin expanding 120 basis points in the first quarter of 2024. The company is on track to achieve over $20 million in cost savings from their cost reduction program. Net operating cash flow improved by $51 million, generating free cash flow of $26 million. The consolidated net leverage ratio stood at 3.5x. However, the company reported a loss per share of $(0.07), but adjusted EPS was $0.03, in line with expectations.
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