The ODP Corporation Q3 Profit Increases, beats estimates

(RTTNews) - The ODP Corporation (ODP) revealed earnings for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $70 million, or $1.79 per share. This compares with $67 million, or $1.35 per share, in last year's third quarter.

Excluding items, The ODP Corporation reported adjusted earnings of $73 million or $1.88 per share for the period.

Analysts on average had expected the company to earn $1.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.4% to $2.01 billion from $2.17 billion last year.

The ODP Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $70 Mln. vs. $67 Mln. last year. -EPS (Q3): $1.79 vs. $1.35 last year. -Analyst Estimate: $1.56 -Revenue (Q3): $2.01 Bln vs. $2.17 Bln last year.

-Guidance: Full year EPS guidance: $5.30 - $5.60 Full year revenue guidance: $7.8 - $7.9 Bln