ACCO BRANDS Reports Q2 FY2023 Earnings Results for Period Ending June 30, 2023
August 11, 2023
🌥️Earnings Overview
On August 8 2023, ACCO BRANDS ($NYSE:ACCO) released its Q2 FY2023 earnings results for the period ending June 30 2023. Revenue for the quarter amounted to USD 493.6 million, a 5.3% decrease compared to the same quarter in the previous year. Net income for the period came to USD 26.4 million, a 33.0% decrease compared to the same quarter in the preceding year.
Price History
These cost savings allowed ACCO BRANDS to maintain a healthy profit margin despite rising costs. This share repurchase program will help to reduce share dilution and improve shareholder value over time.
In addition, ACCO BRANDS has also announced plans to increase its research and development budget by 33%, which should lead to the development of new products and services that will help to grow the company’s presence in the market. Overall, ACCO BRANDS reported strong results for the second quarter and the outlook appears promising for the coming months. Investors should continue to monitor the company’s progress to gain insight into its long-term performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Acco Brands. More…
| Total Revenues | Net Income | Net Margin |
| 1.88k | -27.2 | 2.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Acco Brands. More…
| Operations | Investing | Financing |
| 136.2 | -8.6 | -140.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Acco Brands. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.83k | 2k | 8.75 |
Key Ratios Snapshot
Some of the financial key ratios for Acco Brands are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.6% | -4.9% | 3.0% |
| FCF Margin | ROE | ROA |
| 6.4% | 4.4% | 1.3% |
Analysis
At GoodWhale, we have taken a deep dive into the financials of ACCO BRANDS. We found that, overall, ACCO BRANDS is a medium risk investment in terms of financial and business aspects. We detected one risk warning in the balance sheet, but in order to view the details of this warning you must first become a registered user of GoodWhale. Whether you are an individual investor or a finance professional, our comprehensive analysis of ACCO BRAND’s financials will help you make informed decisions about future investments. More…
Peers
ACCO Brands Corp is an American office products manufacturer and one of the leading companies in its field. It competes with other major players in the industry such as Dynapack International Technology Corp, Jiangsu High Hope International Group Corp and Techtronic Industries Co Ltd. All four of these companies are committed to providing quality products and services to their customers.
– Dynapack International Technology Corp ($TPEX:3211)
Dynapack International Technology Corp is a Taiwanese-based electronics manufacturing company that specializes in producing high-end consumer electronics. The company has a market cap of 11.08 billion as of 2023, indicating that it is one of the largest companies in its industry. The company also has a strong return on equity (ROE) of 27.93%, which is higher than the industry average. This suggests that Dynapack is a well-managed and profitable business, capable of generating significant returns for its shareholders.
– Jiangsu High Hope International Group Corp ($SHSE:600981)
Jiangsu High Hope International Group Corp is a Chinese multinational conglomerate that specializes in the manufacture and sale of industrial products, including chemicals, plastic products, paper products, and engineering machinery. The company has a market capitalization of 6.28B as of 2023, reflecting its size and influence as a major player in the industrial sector in China. Its Return on Equity (ROE) is 4.49%, which indicates a healthy financial state and allows the company to reinvest in its operations and pursue further growth opportunities.
– Techtronic Industries Co Ltd ($SEHK:00669)
Techtronic Industries Co Ltd is a global leader in the design, manufacturing and marketing of power tools, outdoor power equipment, floor care and appliances. As of 2023, the company has a market cap of 162.37B and a Return on Equity (ROE) of 16.39%. This is indicative of the company’s strong financial performance and sustained growth. The company has been able to consistently generate high returns for its shareholders through strong cost management and efficient operations. This has allowed the company to increase its market cap and ROE over the years.
Summary
Investors should take note of ACCO Brands‘ Q2 FY2023 earnings results, which reported a 5.3% decrease in total revenue to USD 493.6 million compared to the same period last year. Net income also declined by 33.0% to USD 26.4 million year-over-year. Despite the dips in revenue and net income, investors should consider other factors such as cost reduction initiatives and the potential for growth in future quarters.
Management’s strategic vision for the company coupled with competitive pricing could provide new opportunities for increased profits in the future. Ultimately, it is important for investors to consider all aspects of the company’s performance and outlook before making any investment decisions.
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