The ODP Corporation reported fourth quarter 2024 sales of $1.6 billion, a 10% decrease year-over-year, and full-year 2024 sales of $6.99 billion, an 11% decrease from the prior year. GAAP diluted EPS for Q4 was $0.36, and for the full year was $3.08.
Adjusted diluted EPS for Q4 2024 was $0.66, and for the full year was $3.30. Adjusted free cash flow for the fourth quarter was $(57) million, while the full-year adjusted free cash flow stood at $33 million.
The company announced its 'Optimize for Growth' restructuring plan, designed to accelerate B2B revenue growth and reduce retail exposure. This multi-year plan is projected to incur costs between $185 million and $230 million, while generating approximately $380 million in EBITDA improvement and over $1.3 billion in total value.
Subsequent to the quarter, ODP Business Solutions announced a milestone agreement with a major hotel management company, becoming a preferred provider for Operating Supplies & Equipment. This strategic partnership positions ODP to expand into the $16 billion hospitality industry, representing a $60 billion market opportunity when combined with adjacent segments.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.