|February 28, 2020||0|
Acco brands experiences double-digit jump in share price – beating Wall Street sales and earnings estimates.
Fourth quarter sales of $537.4 million – $3.5 million up on consensus while adjusted earnings per share of $0.46 were comfortably ahead of analysts’ average of $0.41.
Earnings also include the Foroni acquisition. ACCO got the benefit of the Brazilian supplier’s all-important fourth quarter, generating its best sales and profits in the run-up to the local back-to-school (BTS) season.
What is next for Acco? In 2019 there was some speculation about an acquisition with smartphone accessories supplier, Zagg – but all has gone quiet.
It will be interesting to see if Acco’s further share price growth with a potential future Zagg purchase.