Adjusted EPS Above Outlook
Adjusted EPS for the first quarter was better than the company's outlook, driven by a favorable sales mix and proactive cost management.
Gross Margin Expansion
Gross margin expanded by 60 basis points due to a favorable sales mix and cost-saving measures.
Successful Cost Reduction Program
The company realized $7 million in cost savings in the first quarter, contributing to its $100 million multiyear cost reduction program.
Brazil Market Growth
The Brazilian market returned to volume growth driven by premium notebooks and licensed products.
Repurchase of Shares
ACCO Brands repurchased $15 million in stock during the first quarter.
Small Acquisition in Australia/New Zealand
The acquisition expands the company's product portfolio and gives greater scale in the region.