| May 24, 2021 | 0 |
ACCO Brands Q1 positive results
ACCO Brands announces strong Q1 results for the period ended March 31, 2021.
Net sales increased 6.9 percent to $410.5 million from $384.1 million in 2020. This was due to inclusion of $62.7 million from the PowerA acquisition. Comparable sales were $332.1 million. This is down 13.5 percent as a result of COVID-19 impacts1 in the North America and International segments. EMEA continued its recovery and posted a strong sales increase, with and without PowerA. Favorable foreign exchange increased sales $15.7 million, or 4.1 percent.
Second quarter sales are forecast to be in a range of $460 million to $490 million, with PowerA contributing $50 million to $60 million.
For the full year, the Company is confident in its ability to generate at least $135 million of free cash flow (at least $165 million in operating cash flow minus capital expenditures of approximately $30 million).
Read more about ACCO.
