ODP Corporation sees FY24 adjusted EPS $5.60-$5.80, consensus $5.70

Sees FY24 revenue down 2%-5%. Sees FY24 Adjusted EBITDA $410M-$430M; adjusted operating income $280M-$300M; and adjusted free cash flow greater than $200M. “We’re enthusiastic about the numerous opportunities in our business to drive long term value and we remain focused on prudently deploying capital to the benefit of shareholders,” said Gerry Smith, CEO. “As we move forward into 2024, we remain cautiously optimistic regarding the macroeconomic environment, and we will remain focused on executing upon our three horizons strategy and continuing our commitment to our low-cost model approach through Project Core.” “While macroeconomic conditions posed challenges throughout the year and we expect these conditions to persist in the near term, our team’s continued focus on driving our low-cost model, enhanced by Project Core, have positioned us to issue the following guidance for 2024,” Scaglione added.