ODP Corporation Reports Record Second Quarter Earnings for Fiscal Year 2023
August 23, 2023
🌥️Earnings Overview
ODP ($NASDAQ:ODP) Corporation announced on June 30th 2023 their earnings results for the second quarter of Fiscal Year 2023. Total revenue was recorded as USD 1908.0 million, a 6.2% decrease in comparison to the same period in the preceding year. Despite this, net income increased by 25.9% to USD 34.0 million compared to the second quarter of Fiscal Year 2022.
Market Price
The company’s stock opened at $47.4 and closed at $49.9, up by 3.4% from the previous closing price of $48.2. The news saw a surge in market activity with a large number of investors bidding up the stock and driving its price higher. Analysts attribute this increase to the company’s strong performance in the second quarter, which saw them beat analyst predictions for both revenue and earnings. These impressive figures have led analysts to upgrade their outlook for the company, with many predicting that the stock will continue to trade higher in the third quarter and beyond.
Overall, ODP Corporation has put forth an impressive performance in its second quarter, surpassing analyst expectations and driving its stock price higher. Investors are sure to keep a close eye on the company as it continues to report strong earnings figures in the future. Live Quote…
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% |
Analysis
We at GoodWhale have conducted a detailed analysis of ODP Corporation‘s financial and business wellbeing. After careful review, our Risk Rating system has placed ODP Corporation as a medium risk investment. This means that there is an acceptable level of risk for potential investors in ODP Corporation. In order to gain an even deeper understanding of their financials and risk factors, we have detected two risk warnings in their income sheet and balance sheet. These warnings can be further examined by signing up for a free account on GoodWhale.com. With our comprehensive analysis, investors can make informed decisions about their investments in ODP Corporation. More…
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‘s second quarter of Fiscal Year 2023 saw a decrease in total revenue of 6.2%, but a significant increase in net income of 25.9%. This positive net income result appears to have been reflected in the stock price, which moved up the same day the earnings report was released. Investors may view this as a sign of strength and potential growth in ODP Corporation’s performance going forward. With the company’s financials improving, it may be advisable for investors to consider investing in ODP Corporation.
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