Thread regarding Office Depot layoffs

Aug 7 earnings release thread: Stock takes nose dive before Q2 earnings announcement

Executives sell off?

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Post ID: @OP+10puJouU

8 replies (most recent on top)

It's now at the same price as it was in 1988.

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Post ID: @9gxh+10puJouU

$1.33 today 8/15/19. It has to bounce back, right?

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Post ID: @9rli+10puJouU

still on a nose dive , 1.58 very soon it will be less than a buck

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Post ID: @3eug+10puJouU

How can they report a positive earnings per share and a loss per share?

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Post ID: @1cki+10puJouU

The real issue is smoke and mirrors:

Office Depot Inc. (ODP) on Wednesday reported a second-quarter loss of $24 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Boca Raton, Florida-based company said it had a loss of 4 cents.

The company's shares closed at $1.75. A year ago, they were trading at $2.52.

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Post ID: @1mjx+10puJouU

Report looks good, but stock went lower. Concerns about actual sales and sustainability appear to be the issue. Stock will react accordingly to executive comments during the call.

"Office Depot (ODP) came out with quarterly earnings of $0.07 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 40%. A quarter ago, it was expected that this office supply retailer would pos t earnings of $0.06 per share when it actually produced earnings of $0.07, delivering a surprise of 16.67%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Office Depot, which belongs to the Zacks Retail - Miscellaneous industry, posted revenues of $2.59 billion for the quarter ended June 2019, surpassing the Zacks Consensus Estimate by 0.03%. This compares to year-ago revenues of $2.63 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call .

Office Depot shares have lost about 32.2% since the beginning of the year versus the S&P 500's gain of 15%."

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Post ID: @1qcf+10puJouU

Looks to me like they are selling shares to offset tax liability on their stock options

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Post ID: @1ylu+10puJouU

https://www.reuters.com/finance/stocks/insider-trading/ODP.OQ?symbol=&name=&sortBy=d&sortDir=DESC

Interesting

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Post ID: @bmi+10puJouU

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