Acco Brands reports Q3 adjusted EPS 21c, consensus 22c

Reports Q3 revenue $384M, consensus $391M. The company said, “We delivered third quarter adjusted EPS in line with our outlook and expanded gross margin by 50 basis points as we continue to demonstrate strong operational discipline through continued execution of our $100 million cost reduction program. Sales were lower than expected in the quarter, as the demand environment for many of our categories remained soft globally. We expect sales trends to improve in the fourth quarter, reflecting the favorable impact of foreign exchange and growth in the technology accessories categories.”