- The ODP Corporation ( NASDAQ: ODP ) climbs 4.73% premarket on announcing Q2 prelim sales of $2B vs consensus of $2.04B .
- Q2 prelim GAAP EPS is in the range of $0.38 to 0.40 per diluted share; prelim Adj. EPS is in the range of $0.78 to $0.80 vs consensus of $0.46 .
- Prelim Adjusted operating income for Q2 is in the range of $53M to $55M ; adjusted EBITDA in the range of $89M to $91M
- The company expects FY22 sales in the range of $8.45B to $8.60B vs consensus of $8.41B .
- FY22 Adj EPS is expected between $4.10 to $4.50 vs consensus of $4.25 .
- Adj operating income for FY22 is expected between $285M to $315M; Adj EBITDA expected in the range of $430M to $460M .
- The company also approves $600M share repurchase authorization, including cash tender offer for up to $300M of shares.
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The ODP Corporation gains on guiding Q2 and FY22 earnings above the consensus; to buyback shares of $600M