• First quarter revenue of $1.7 billion with GAAP EPS of $(0.97); adjusted EPS of $1.06
  • GAAP Operating Loss of $32 Million; Net Loss of $29 Million; Operating Cash Flow of $57 Million
  • Adjusted EBITDA of $76 Million; Adjusted Free Cash Flow of $45 Million

The ODP Corporation has reported a positive start to the year, with solid operational results and improving trends in the first quarter. The company’s consumer division contributed to stronger top-line trends, margin improvements, and solid cash flow. The B2B distribution business has secured significant new business contracts, including an agreement with CoreTrust, and customer onboarding is accelerating. 

The company is also making progress in serving the hospitality industry, forging key supplier relationships, preparing inventory and sales force, and engaging with potential new customers. 

Veyer, in its supply chain business, has achieved over 85% revenue growth from third-party customers and added significant new accounts to its portfolio. 

The company is closely monitoring the tariff environment and taking actions to mitigate potential impacts. As the company moves forward, it remains focused on executing foundational strategies to drive success and is confident in its ability to capitalize on opportunities for sustained, profitable growth. The company believes ODP offers a unique and compelling value proposition for shareholders, considering its strong balance sheet, valuable asset base, supply chain and distribution capabilities, and cash flow profile.

The company reported a 9% decrease in total sales of $1.7 billion compared to the previous year, primarily due to lower sales in its Office Depot Division and ODP Business Solutions Division. 

The first quarter of 2025 saw $86 million of charges, with $48 million related to the company’s Optimize for Growth restructuring plan. Adjusted operating income was $54 million, and adjusted EBITDA was $76 million. Adjusted net income from continuing operations was $32 million, with diluted earnings per share from continuing operations of $1.06. 

Operating cash flow from continuing operations was $57 million, and adjusted free cash flow was $45 million. The company had $653 million of total available liquidity, including $185 million in cash and cash equivalents at the quarter’s end.

Source: Benzinga
Source: Yahoo Finance