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The ODP Corporation Reports Quarterly Loss of $(4) Million

By USinMinutes - Aug 07, 2024, 06:51 AM ET

Last Updated - Aug 08, 2024, 05:56 PM EDT

The ODP Corporation Reports Quarterly Loss of $(4) Million

ODP Corporation's Q2 Revenue Declines by 10%, Operating Income Drops to $0.4 Million

The ODP Corporation [ODP], a leading provider of products and services, announced a net loss of $(4) million for the second quarter ended June 29, 2024. This performance represents a decrease from the net income of $43 million reported in the previous quarter.

The ODP Corporation, a key player in the Consumer Services sector, reported revenue of $1.7 billion, reflecting a 10% decrease compared to the previous quarter's revenue of $1.9 billion.

In comparison to the same quarter in the previous year, The ODP Corporation's revenue of $1.7 billion for the current quarter reflects an 11% decrease from the revenue reported in the corresponding quarter last year.

Additionally, the net loss of $(4) million in the current quarter represents a decline of $(47) million, or a percentage change of -92%, compared to the net income of $43 million in the same quarter of the previous year.

Odp Corp [ODP]

Dollars in millions
	Dec 30, 2023	Sep 30, 2023	Jul 01, 2023	Apr 01, 2023
Income Statement
Revenue	$7,831.0	$2,009.0	$1,908.0	$2,108.0
Operating Profit	$201.0	$91.0	$46.0	$95.0
Net Income	$139.0	$70.0	$34.0	$72.0
Net Cash	-$9.0	-$17.0	-$67.0	-$59.0
Gross Margin	$1,766.0	$474.0	$415.0	$481.0
Operating Margin	$0.0	$0.0	$0.0	$0.0
Profit as % of Revenues	22.55	23.59	21.75	22.82
Profit as % of Assets	7.15	1.72	0.84	1.76
Profit as % of Stockholder Equity	12.62	6.06	2.93	6.27
Return on Equity	12.62	6.06	2.93	6.27
Return on Assets	3.58	1.76	0.86	1.78
Turnover Ratio	4.03	0.49	0.47	0.51
Balance Sheet
Total Assets	$3,886.0	$3,980.0	$3,961.0	$4,041.0
Total Liabilities	$2,785.0	$2,825.0	$2,800.0	$2,893.0
Cash Flow Statement
Operating Cash Flow	$331.0	$261.0	$149.0	$157.0
Investing Cash Flow	-$2.0	$28.0	$46.0	-$31.0
Financing Cash Flow	-$340.0	-$306.0	-$263.0	-$185.0

Read the full filing

Related News:

ODP Corporation's Q2 Revenue Declines by 10%, Operating Income Drops to $0.4 Million

The ODP Corporation, a key player in the Consumer Services sector, reported revenue of $1.7 billion, reflecting a 10% decrease compared to the previous quarter's revenue of $1.9 billion.

Odp Corp [ODP]

Dollars in millions
	Dec 30, 2023	Sep 30, 2023	Jul 01, 2023	Apr 01, 2023
Income Statement
Revenue	$7,831.0	$2,009.0	$1,908.0	$2,108.0
Operating Profit	$201.0	$91.0	$46.0	$95.0
Net Income	$139.0	$70.0	$34.0	$72.0
Net Cash	-$9.0	-$17.0	-$67.0	-$59.0
Gross Margin	$1,766.0	$474.0	$415.0	$481.0
Operating Margin	$0.0	$0.0	$0.0	$0.0
Profit as % of Revenues	22.55	23.59	21.75	22.82
Profit as % of Assets	7.15	1.72	0.84	1.76
Profit as % of Stockholder Equity	12.62	6.06	2.93	6.27
Return on Equity	12.62	6.06	2.93	6.27
Return on Assets	3.58	1.76	0.86	1.78
Turnover Ratio	4.03	0.49	0.47	0.51
Balance Sheet
Total Assets	$3,886.0	$3,980.0	$3,961.0	$4,041.0
Total Liabilities	$2,785.0	$2,825.0	$2,800.0	$2,893.0
Cash Flow Statement
Operating Cash Flow	$331.0	$261.0	$149.0	$157.0
Investing Cash Flow	-$2.0	$28.0	$46.0	-$31.0
Financing Cash Flow	-$340.0	-$306.0	-$263.0	-$185.0

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Income Statement

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The ODP Corporation Reports Quarterly Loss of $(4) Million

ODP Corporation's Q2 Revenue Declines by 10%, Operating Income Drops to $0.4 Million

Income Statement

Balance Sheet

Cash Flow Statement

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