The ODP Corporation Q1 Profit Decreases, but beats estimates

The ODP Corporation (ODP) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $55 million, or $1.09 per share. This compares with $63 million, or $1.12 per share, in last year's first quarter.

Excluding items, The ODP Corporation reported adjusted earnings of $64 million or $1.27 per share for the period.

Analysts on average had expected the company to earn $0.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.5% to $2.18 billion from $2.17 billion last year.

The ODP Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $55 Mln. vs. $63 Mln. last year.
-EPS (Q1): $1.09 vs. $1.12 last year.
-Analyst Estimates: $0.79
-Revenue (Q1): $2.18 Bln vs. $2.17 Bln last year.

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