The ODP Corporation Q1 Profit Decreases, misses estimates

(RTTNews) - The ODP Corporation (ODP) announced a profit for first quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $15 million, or $0.40 per share. This compares with $72 million, or $1.71 per share, in last year's first quarter.

Excluding items, The ODP Corporation reported adjusted earnings of $40 million or $1.05 per share for the period.

Analysts on average had expected the company to earn $1.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.4% to $1.87 billion from $2.11 billion last year.

The ODP Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $15 Mln. vs. $72 Mln. last year. -EPS (Q1): $0.40 vs. $1.71 last year. -Revenue (Q1): $1.87 Bln vs. $2.11 Bln last year.

-Guidance: Full year EPS guidance: $6.30 - $6.60