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ACCO Brands Corporation - $ACCO STOCK NEWS

Welcome to our dedicated page for ACCO Brands Corporation news (Ticker: $ACCO), a resource for investors and traders seeking the latest updates and insights on ACCO Brands Corporation stock.

Acco Brands Corporation (NYSE: ACCO) is one of the world's largest suppliers of branded office products. With a robust portfolio of industry-leading brands such as AT-A-GLANCE®, Five Star®, Kensington®, Mead®, Swingline®, and many others, Acco Brands generates nearly $1.8 billion in annual revenue and markets its products in over 100 countries. The company operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International, offering a wide range of products including school notebooks, janitorial supplies, whiteboards, storage and organization products, and computer accessories.

Recent achievements include the launch of innovative Kensington docking stations that support the latest USB-C laptops, a multi-year cost savings program projected to save $60 million annually, and the introduction of the PowerA Lumectra RGB technology for Nintendo Switch controllers. Acco Brands is committed to enhancing shareholder value through continuous innovation, strategic cost reductions, and a strong focus on new product development.

Acco Brands is also dedicated to building a winning culture for its employees, providing global career opportunities in a dynamic and results-oriented environment. The company's financial health is reinforced by a significant improvement in operating cash flow and a reduced debt leverage ratio, demonstrating its resilience in overcoming market challenges.

For more information, visit www.accobrands.com or follow the company on their social media platforms.

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Kensington has launched the Elevated Stand for Surface, designed exclusively for the Microsoft Surface Pro and Surface Go. This sleek, portable riser enhances ergonomics, security, and productivity. It elevates the screen to eye level, supports tilt options for optimal viewing angles, and includes security features. Kensington's range of Designed for Surface (DfS) products also includes docking stations and other accessories that expand the capabilities of Surface devices. The Elevated Stand aims to reduce desktop clutter with magnetic storage and cable management. These accessories are available in North America through Kensington's store and partner sites.

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ACCO Brands reported net sales of $359 million with a gross margin expanding 120 basis points in the first quarter of 2024. The company is on track to achieve over $20 million in cost savings from their cost reduction program. Net operating cash flow improved by $51 million, generating free cash flow of $26 million. The consolidated net leverage ratio stood at 3.5x. However, the company reported a loss per share of $(0.07), but adjusted EPS was $0.03, in line with expectations.

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ACCO Brands announced a quarterly cash dividend of $0.075 per share, to be paid on June 12, 2024. This marks the 26th consecutive quarterly dividend since 2018, with a 6% annualized yield for shareholders. The company's commitment to dividend payments showcases its capital allocation strategy and strong free cash flow.
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ACCO Brands (NYSE: ACCO) will release its first quarter 2024 earnings after the market close on May 2, 2024, followed by a conference call and webcast on May 3 at 8:30 a.m. EST. The webcast can be accessed through the Investor Relations section of www.accobrands.com.
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PowerA, a division of ACCO Brands, introduces the Enhanced Wireless Controller for Nintendo Switch with Lumectra™ RGB technology. The controller offers personalized RGB lighting, intuitive motion controls, advanced mappable gaming buttons, and up to 20 hours of wireless battery life, enhancing gaming experiences for Nintendo Switch fans.
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ACCO Brands Corporation (NYSE: ACCO) exceeded its full-year 2023 outlook with reported net sales of $1.833 billion, operating income of $45 million, and adjusted EPS of $1.09. The company reduced total debt by $88 million, generated adjusted free cash flow of $118 million, and decreased consolidated net leverage ratio to 3.4x. Despite challenges in the demand environment, ACCO Brands' gross margin expanded, delivering strong free cash flow. The company implemented restructuring plans, resulting in improved financial performance and positioning for long-term growth.
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ACCO Brands Corporation (NYSE: ACCO) declares a quarterly cash dividend of $0.075 per share, marking the 25th dividend since 2018. The dividend will be paid on March 27, 2024, with a 5% yield for shareholders.
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ACCO Brands Corporation (ACCO) plans to release its Q4 and full year 2023 earnings on February 22, 2024, followed by a conference call on February 23. The webcast will be accessible on their website.
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ACCO Brands Corporation (NYSE: ACCO) has announced a multi-year restructuring and cost savings program, aiming for annualized pre-tax cost savings of at least $60 million. The program includes initiatives to simplify the operating structure, reduce costs through headcount reductions and supply chain optimization, and improve sourcing capabilities. The company also plans to file a Form 8-K with the SEC disclosing its restructuring charges. ACCO Brands' President and CEO, Tom Tedford, expressed confidence in the long-term growth prospects of the company, citing geographically diverse operations and leading brands. The company will operate and report under two segments: the Americas and International segments. Effective January 1, 2024, Cezary Monko and Patrick Buchenroth have been appointed as Presidents of the International and Americas segments, respectively.
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Kensington (KENS) announced the launch of three new high-performance docking stations at Pepcom’s Digital Experience! media event at CES 2024. The next-generation SD5000T5 Thunderbolt 5 Dock supports throughput speeds up to 120Gbps, three times the speed of Thunderbolt 4, with up to 140W of power delivery. Three new USB docking stations, including the SD4880P USB-C® 10Gbps Quad Video 17-in-1 Driverless Dock, are set to enhance productivity and promote a clutter-free workspace. The company also provided a glimpse into upcoming docking technology that will become available in 2H 2024.
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FAQ

What products does Acco Brands Corporation offer?

Acco Brands Corporation offers a variety of office products, including school notebooks, janitorial supplies, whiteboards, storage and organization products, sheet protectors, indexes, punching products, and computer accessories under brands such as AT-A-GLANCE®, Five Star®, Kensington®, and Mead®.

What are the main operating segments of Acco Brands Corporation?

Acco Brands Corporation operates through three main segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International.

How much annual revenue does Acco Brands generate?

Acco Brands Corporation generates nearly $1.8 billion in annual revenue.

In how many countries does Acco Brands market its products?

Acco Brands markets its products in over 100 countries across the globe.

What are some recent achievements of Acco Brands Corporation?

Recent achievements include the launch of Kensington's new docking stations, a multi-year cost savings program, and the introduction of PowerA Lumectra RGB technology for Nintendo Switch controllers.

What financial strategies is Acco Brands focusing on?

Acco Brands focuses on innovation, strategic cost reductions, and new product development. They have also improved operating cash flow and reduced their debt leverage ratio.

What is the purpose of Acco Brands' multi-year cost savings program?

The multi-year cost savings program aims to simplify the operating structure, reduce costs through headcount reductions, supply chain optimization, and global footprint rationalization, with anticipated annualized pre-tax savings of at least $60 million.

Who are the target customers for Acco Brands' products?

Acco Brands targets a wide range of customers including schools, homes, and businesses through various channels such as mass retailers, e-tailers, discount and variety chains, and warehouse clubs.

How does Acco Brands support its employees?

Acco Brands is passionate about building a winning culture for its employees by providing a rewarding and challenging career path with opportunities across the globe in a variety of disciplines.

Where can investors find more information about Acco Brands?

Investors can find more information about Acco Brands Corporation by visiting their official website at www.accobrands.com.

ACCO Brands Corporation

NYSE:ACCO

ACCO Rankings

ACCO Stock Data

447.59M
90.54M
3.24%
85.28%
1.61%
Office Supplies (except Paper) Manufacturing
Manufacturing
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United States of America
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