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MarketScreener Homepage  >  Equities  >  Nasdaq  >  The ODP Corporation    ODP

THE ODP CORPORATION

(ODP)
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Office Depot : The ODP Corporation Third Quarter 2020 Earnings Webcast Presentation

11/05/2020 | 09:22am EST

Third Quarter

Q1202020 Financial Results

Office Depot® is a trademark of The Office Club, Inc. OfficeMax® is avtrademark of OMX, Inc. ©2020 Office Depot, LLC. All rights reserved.

Safe Harbor Statement

2

The Private Securities Litigation Reform Act of 1995, as amended, (the "Act") provides protection from liability in private lawsuits for "forward-looking" statements made by public companies under certain circumstances, provided that the public company discloses with specificity the risk factors that may impact its future results. The Company wants to take advantage of the "safe harbor" provisions of the Act. Certain statements made during this presentation are forward-looking statements under the Act. Except for historical financial and business performance information, statements made during this presentation should be considered forward-looking as referred to in the Act. Much of the information that looks towards future performance of the Company is based on various factors and important assumptions about future events that may or may not actually come true, including the impacts on our business due to the unknown severity and duration of the COVID-19 outbreak. As a result, operations and financial results in the future could differ materially and substantially from those discussed in the forward-looking statements made during this presentation. Certain risks and uncertainties are detailed from time to time in the Company's filings with the United States Securities and Exchange Commission ("SEC").

You are strongly urged to review all such filings for a more detailed discussion of such risks and uncertainties. The Company's SEC filings are available at no charge at www.sec.gov and at the Company's website at investor.theodpcorp.com.

During portions of today's presentation, the Company may refer to results which are non-GAAP financial measures. A reconciliation of GAAP to non- GAAP financial measures is available on the Company's website at investor.theodpcorp.com. These measures exclude charges or credits not indicative of core operations and the tax effects of these items, which may include but not be limited to merger integration, restructuring, acquisition costs, asset impairments and executive transition costs. The exact amount of these charges or credits are not currently determinable but may be significant. Accordingly, the Company is unable to provide GAAP measures or equivalent reconciliations from GAAP to non-GAAP for these financial measures.

Gerry Smith

Chief Executive Officer

Third Quarter 2020 Highlights

4

Maintained Safety Measures for Associates & Customers

Balanced Ecosystem and Low-Cost Model Drove Stronger Performance

  • Balanced ecosystem and channel diversity meeting needs of customers in all environments
  • Value proposition resonating with customers in work/learn-from-home environment
  • Broader offering of products and services addressing customer needs
  • Low-costbusiness model driving efficiencies

Delivered Improved Operating Performance

  • Improved sequential revenue performance - up 18% sequentially
  • Operating performance near prior year pre-COVID levels
  • Strong adjusted Free Cash Flow - $312 million
  • Maintained strong balance sheet; $1.7B in total available liquidity

Significant Progress on B2B Pivot

  • "Maximize B2B" long term restructuring plan
    • Reduces retail lease liabilities; improves cost structure; generates cash; provides flexibility
  • Building upon B2B ecosystem and supply chain capabilities

Confident in our future - Reinstating share buy-back plan

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

ODP Corporation published this content on 05 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 November 2020 14:21:04 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 9 722 M - -
Net income 2020 -293 M - -
Net cash 2020 412 M - -
P/E ratio 2020 -8,04x
Yield 2020 0,27%
Capitalization 2 433 M 2 433 M -
EV / Sales 2020 0,21x
EV / Sales 2021 0,22x
Nbr of Employees 40 000
Free-Float 82,7%
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Technical analysis trends THE ODP CORPORATION
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 41,00 $
Last Close Price 46,18 $
Spread / Highest target 29,9%
Spread / Average Target -11,2%
Spread / Lowest Target -50,2%
EPS Revisions
Managers and Directors
NameTitle
Gerry P. Smith Chief Executive Officer & Executive Director
Joseph S. Vassalluzzo Non-Executive Chairman
Diego Anthony Scaglione Chief Financial Officer & Executive Vice President
Todd Hale Chief Information Officer & Executive VP
Terry Leeper Chief Technology Officer & Executive VP
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