ACCO Brands Corp (ACCO) faced a significant stock plummet of 16.49% in the pre-market trading session on Friday, following the company's disappointing fourth-quarter earnings report for 2024. The business support supplies company reported lower-than-expected earnings per share (EPS) and a year-over-year revenue decline, missing Wall Street's projections.
According to the earnings summary, ACCO Brands reported adjusted EPS of $0.39 for the quarter ended December 31, 2024, falling short of the average analyst estimate of $0.41. Additionally, the company's revenue dropped by 8.3% year-over-year to $448.10 million, missing the expected $455.07 million.
The disappointing financial results appear to be the primary factor behind ACCO Brands' substantial pre-market stock plunge. Investors reacted negatively to the company's failure to meet earnings and revenue expectations, leading to a significant sell-off of the stock.
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