Acco Brands reports Q4 adjusted EPS 39c, consensus 41c

Reports Q4 revenue $448.1M, consensus $455.06M. “Fourth quarter sales and EPS were in line with our outlook, excluding the impact of greater foreign currency headwinds. During the year, we successfully executed on our key priorities and realized approximately $25 million in cost savings. In addition, we further increased our multi-year cost reduction program to $100 million of cumulative savings. These actions and our continued commitment to managing costs led to improved gross margins, lower SG&A and strong free cash flow. We also expanded our capital allocation program, repurchasing $15 million in shares, while strengthening our balance sheet through debt reduction,” stated ACCO Brands (ACCO)’ President and Chief Executive Officer, Tom Tedford.