Shares of ODP Climb After 1Q Sales Beat Wall Street Expectations

Dow Jones

May 07, 2025

By Roshan Fernandez

Shares of ODP rose Wednesday after the office supplies company reported first-quarter sales and earnings per share that beat Wall Street expectations.

Shares climbed 12% to $15.27 though the stock is down about 71% in the past 52 weeks.

The parent company of Office Depot and OfficeMax swung to a first-quarter loss of $29 million, or 97 cents a share, compared with a profit of $15 million, or 40 cents a share, a year earlier.

The loss was partially due to $48 million in restructuring expenses that were part of the company's plan to optimize for growth.

Excluding one-time items, per-share earnings were $1.06, above the 65 cents per share that analysts were expecting, according to FactSet.

Revenue fell to $1.7 billion from $1.87 billion in the year-ago quarter. Analysts were expecting $1.67 billion.

The decrease in first-quarter sales was largely due to lower sales in the Office Depot division, which had 46 fewer retail locations than the year-ago quarter and saw reduced retail and online consumer traffic.

The Boca Raton, Fla.-based company said the market for business-to-business distribution remains soft, but the pace of customer onboarding is beginning to accelerate.

ODP's "Optimize For Growth" strategy targets higher-growth B2B opportunities, while expanding into new sectors like hospitality and healthcare, the company said.

Write to Roshan Fernandez at roshan.fernandez@wsj.com

(END) Dow Jones Newswires

May 07, 2025 10:37 ET (14:37 GMT)

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Analysts were expecting $1.67 billion. \n\n\n  The decrease in first-quarter sales was largely due to lower sales in the Office Depot division, which had 46 fewer retail locations than the year-ago quarter and saw reduced retail and online consumer traffic. \n\n\n  The Boca Raton, Fla.-based company said the market for business-to-business distribution remains soft, but the pace of customer onboarding is beginning to accelerate. \n\n\n  ODP's \"Optimize For Growth\" strategy targets higher-growth B2B opportunities, while expanding into new sectors like hospitality and healthcare, the company said. \n\n\n \n\n\n  Write to Roshan Fernandez at roshan.fernandez@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 07, 2025 10:37 ET (14:37 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}