Office Depot Inc (NASDAQ:ODP) has released its earnings report for the third quarter of the year.
Here are a few things to know about ODP’s earnings report for the third quarter of 2017.
- Earnings per share reported in the quarter was 14 cents.
- The office supply company reported earnings per share of 16 cents in the third quarter of 2016.
- Wall Street was looking for earnings per share of 14 cents in the quarter.
- Revenue for the third quarter of the year was $2.62 billion.
- The company’s revenue from the same period of the year prior was $2.84 billion.
- Analysts were expecting Office Depot Inc to report revenue of $2.61 billion for the quarter.
- Retail sales for the quarter were $1.33 billion, which is down from $1.48 billion a year ago.
- Sales from ODP’s Business Solution Division was down from $1.35 billion in the third quarter of 2016 to $1.29 billion in its most recent quarter.
- Net income for the quarter was $98 million.
- Net income from the same time last year was $330 million.
- Operating income reported in the third quarter of the year was $108 million.
- ODP’s operating income from the same quarter of the previous year was $117 million.
- Office Depot Inc notes that it expects revenue for the full year of 2017 to be down from its 2016 revenue.
- The company also announced a dividend of 2.5 cents per share payable Dec. 15, 2017 to shareholders on record as of Nov. 24, 2017.
You can follow this link to learn more about Office Depot Inc third-quarter earnings report.
ODP stock was up slightly as of Thursday morning, but is down 33% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.