ODP Corporation raises FY23 adjusted EPS view to $5.30-$5.60 from $5.00-$5.30

Lowers FY23 revenue view to $7.8B-$7.9B from $8.0B. Consensus is for FY23 EPS $5.20, and for revenue $8B. Reaffirms FY23 CapEx view $100M-$120M; and adjusted EBITDA $400M-$430M. “Our team’s unwavering commitment to delivering value is evident in our compelling customer proposition, strong free cash flow generation, and strategic capital allocation for the benefit of our shareholders,” highlighted Joseph Vassalluzzo, CEO. “While we acknowledge the influence of the challenging macroeconomic environment on consumer and business activity, we remain steadfast in our dedication to driving long-term value within our business through effective execution of our three horizons strategy.”