Odp Corporation ( (ODP) ) has released its Q1 earnings. Here is a breakdown of the information Odp Corporation presented to its investors.
The ODP Corporation is a prominent provider of products, services, and technology solutions, operating in the business-to-business (B2B) distribution sector with a strong omni-channel presence including Office Depot and OfficeMax retail stores.
In its first quarter of 2025, The ODP Corporation reported a revenue of $1.7 billion, reflecting a 9% decrease from the previous year. The company faced a GAAP operating loss of $32 million and a net loss of $29 million, but managed to achieve an adjusted EBITDA of $76 million and an adjusted free cash flow of $45 million.
Key highlights from the quarter include strategic partnerships in the hospitality industry and the onboarding of new B2B customers, which are expected to drive future growth. The company also reported significant progress in its supply chain business, Veyer, which saw an 85% revenue growth from third-party customers. However, sales in both the Office Depot and ODP Business Solutions divisions declined due to fewer retail locations and challenging macroeconomic conditions.
Looking ahead, The ODP Corporation remains focused on executing its ‘Optimize for Growth’ plan, which aims to enhance its B2B market presence while reducing retail exposure. The company is optimistic about its strategic initiatives and believes it is well-positioned for sustained growth and value creation in the future.