The ODP Corporation
27.81+0.04 (+0.14%)
Oct 30, 12:39:21 PM EDT · NasdaqGS · ODP · USD
Key Stats
Market Cap
837.58MP/E (TTM)
20.15Basic EPS (TTM)
1.38Dividend Yield
0%Recent Filings
8-K
ODP Q2 sales dip, trends improve
The ODP Corporation reported Q2 2025 sales of $1.6 billion, down 8% year-over-year due to 60 fewer retail stores and softer traffic, yet comparable store sales improved to a 5% decline from 7%. Adjusted EPS hit $0.51 with $47 million in adjusted EBITDA, while B2B trends strengthened 200 basis points via hospitality expansion, onboarding 1,000 new properties. Cash flow surged; adjusted free cash flow doubled to $13 million. Momentum builds into H2 with over $115 million full-year guidance.
10-Q
Q2 FY2025 results
The ODP Corporation's Q2 FY2025 sales fell 8% y/y to $1.586B, with ODP Business Solutions down 6% to $858M and Office Depot dropping 10% to $709M amid planned closures and softer demand, while Veyer's external sales surged 90% to $19M. Gross margin held at 20%, but operating income swung to $9M from breakeven, pressured by $13M in Optimize for Growth restructuring costs and $3M asset impairments—mostly retail lease write-downs. YTD, sales declined 8% to $3.286B with a $23M operating loss, versus $41M profit last year, driven by $61M restructuring and $41M impairments; net loss of $29M yielded $(0.97) diluted EPS on 30M shares, consistent with no dilution. Cash climbed to $177M, with $73M operating cash flow and $40M free cash flow (derived), bolstering $658M liquidity against $245M total debt under the 2029 revolver. The Optimize for Growth plan, targeting B2B expansion through 2028, closed 32 stores and three facilities this half. Yet competition erodes pricing power in office supplies.
10-Q
Q1 FY2025 results
The ODP Corporation's Q1 FY2025 sales fell 9% y/y to $1.7B, driven by softer demand in B2B and retail segments amid economic headwinds, while gross margin slipped to 21% from 22% due to supply chain deleveraging. Operating loss widened to $32M from $41M income, hit by $38M asset impairments and $48M restructuring costs tied to the Optimize for Growth plan, which closed nine stores and targets B2B expansion through 2028. Yet cash from operations rose to $57M, bolstering $185M cash and $468M revolver availability for $653M liquidity. Diluted EPS from continuing operations dropped to $(0.97) from $0.83, with no anti-dilution effects noted. Restructuring ramps up, but new tariffs on Asian imports pose margin risks.
8-K
ODP Q1 revenue dips, cash flow rises
The ODP Corporation reported Q1 2025 revenue of $1.7 billion, down 9% year-over-year, with a GAAP operating loss of $32 million driven by $86 million in restructuring and impairment charges, including $48 million from the Optimize for Growth plan. Adjusted operating income held at $54 million, while adjusted free cash flow surged to $45 million from $17 million last year. New B2B wins like the CoreTrust deal and hospitality partnerships with Sobel Westex and Hunter Amenities signal expansion into high-growth sectors. Restructuring costs may pressure short-term results, but the plan targets $380 million in EBITDA gains over time.
8-K
ODP shareholders approve board, pay
The ODP Corporation's shareholders overwhelmingly elected all eight board nominees on May 1, 2025, with Gerry P. Smith topping votes at 22.7 million for and just 2.2 million against. They ratified Deloitte & Touche as auditors for fiscal 2025, approved executive pay, and backed an officer exculpation amendment—yet the long-term incentive plan tweak got pulled. Strong support signals board stability amid routine governance tweaks.
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