Welcome to our dedicated page for The Odp news (Ticker: ODP), a resource for investors and traders seeking the latest updates and insights on The Odp stock.
The ODP Corp (ODP) provides essential business solutions through its integrated B2B platform, serving enterprises and retail customers with office supplies, technology, and supply chain services. This page aggregates official news and press releases about ODP’s operational developments, financial performance, and strategic initiatives.
Investors and business professionals will find updates across ODP divisions including Veyer’s global supply chain management, Varis’ tech-enabled procurement marketplace, and corporate restructuring efforts. Key content includes earnings announcements, leadership changes, partnership agreements, and product/service expansions.
Bookmark this page to track ODP’s progress in transforming business procurement through its dual retail/B2B model. Check regularly for verified updates about operational milestones across its distribution network and digital platforms.
The ODP (NASDAQ:ODP) has renewed and extended its existing asset-based credit facility to May 2029, with a value of $800 million, strengthening its financial position. The company has secured more attractive credit terms, enhancing its balance sheet and liquidity to support future growth. The renewal was oversubscribed, reflecting strong lender support and providing financial flexibility to drive business growth.
The ODP reported first quarter 2024 results with revenue of $1.9 billion and GAAP EPS of $0.40; adjusted EPS of $1.05. Despite challenges in the macroeconomic environment, the company remains on track to meet 2024 guidance. The Board of Directors approved a plan to sell the Varis Business Unit, and the company repurchased approximately $90 million of shares year to date.
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