ODP CORPORATION Reports 6.2% Decrease in Revenue for Second Quarter of FY2023
August 18, 2023
🌥️Earnings Overview
ODP CORPORATION ($NASDAQ:ODP) announced on June 30, 2023 their financial results for the second quarter of FY2023 with total revenue of USD 1908.0 million; a 6.2% decrease year-over-year. Net income for the quarter was USD 34.0 million, a 25.9% increase from the same period in the previous year.
Analysis
GoodWhale conducted an analysis of ODP CORPORATION‘s wellbeing and according to the Star Chart, ODP CORPORATION has a high health score of 8/10 with regard to its cashflows and debt, indicating that it is capable to sustain future operations in times of crisis. ODP CORPORATION scored particularly well in liquidity, but medium in asset, profitability and weak in dividend and growth. Considering ODP CORPORATION’s overall ratings, GoodWhale classified it as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. Investors that are interested in such a company may include those that are looking for long-term investments with steady returns. Those that are interested in capital growth and dividend payments may be less inclined as ODP CORPORATION scored low on these metrics. Investors who have a keen eye for companies that have the potential for rapid growth may also be interested, as this company has the assets to make it happen. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Odp Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 8.29k | 191 | 2.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Odp Corporation. More…
| Operations | Investing | Financing |
| 470 | -3 | -544 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Odp Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.96k | 2.8k | 30.4 |
Key Ratios Snapshot
Some of the financial key ratios for Odp Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -6.6% | -6.2% | 3.6% |
| FCF Margin | ROE | ROA |
| 4.4% | 16.1% | 4.7% |
Peers
The company operates duty-free stores at major airports and tourist destinations in these countries. The company’s main competitors are China Tourism Group Duty Free Corp Ltd, JALUX Inc, and Rito Group Corp.
– China Tourism Group Duty Free Corp Ltd ($SHSE:601888)
China Tourism Group Duty Free Corp Ltd is a state-owned enterprise that operates duty-free shops in China. It is the largest duty-free retailer in China with over 200 stores across the country. The company offers a wide range of products including cosmetics, fashion, accessories, and food. It also operates an online duty-free platform.
Summary
ODP CORPORATION reported their financial results for the second quarter of FY2023, showing total revenue of USD 1908.0 million, a 6.2% decrease from the same period last year, and net income of USD 34.0 million, a 25.9% increase. This led to a positive response from investors, with the stock price moving up the same day. Investors should carefully analyze the company’s long-term performance and outlook, particularly in view of the revenue decrease, when considering investing in ODP CORPORATION. Doing additional research into the company’s competitive landscape, product offerings, and market position should help investors make an informed decision on whether or not to invest in the company.
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