Office Depot Inc (NASDAQ: ODP) reported its Q1 2020 financial results.
First Quarter 2020 Highlights(1)
- Total Reported Sales of $2.7 Billion, down 2% from Prior Year Period
- Operating Income of $80 Million, up 233% YOY; Net Income of $45 Million, up 463% YOY
- Adjusted Operating Income of $108 Million, up 61% YOY; Adjusted EBITDA of $157 Million, up 33% YOY
- Operating Cash Flow of $188 Million and Adjusted Free Cash Flow of $173 Million
- EPS of $0.08, up $0.07 from Prior Year Period; Adjusted EPS of $0.12, up $0.05 from Prior Year Period
- Positive Net Cash Position; $1.7 Billion of Available Liquidity Including $842 Million in Cash
“While significant challenges remain ahead, we are in a strong financial position and remain focused on utilizing our B2B platform to provide essential products and services necessary to help our customers and the nation weather through this pandemic,” said Garry Smith, CEO of Office Depot.
Will Office Depot shares trading higher after the company reported better-than-expected Q1 EPS and sales results it remains a question. ODP stock closed 7.5% lower on Tuesday.