ACCO Brands Corporation (ACCO) CEO Boris Elisman on Q1 2022 Results – Earnings Call Transcript – Seeking Alpha

ACCO Brands Corporation (NYSE:ACCO) Q1 2022 Earnings Conference Call April 27, 2022 8:30 AM ET

Company Participants

Christine Hanneman – Senior Director of Investor Relations

Boris Elisman – Chief Executive Officer

Deb O’Connor – Executive Vice President and Chief Financial Officer

Conference Call Participants

Joe Gomes – NOBLE Capital

Chris McGinnis – Sidoti & Company

Kevin Steinke – Barrington Research

Harold Holden – Barclays

Hamed Khorsand – BWS Financial


Hello, everyone, and a warm welcome to the First Quarter 2022 ACCO Brands Earnings Call. My name is Bethany, and I will be your operator today [Operator Instructions]. I will now hand the call over to Christine Hanneman to begin. Christine, over to you.

Christine Hanneman

Good morning. This is Christine Hanneman, Senior Director of Investor Relations. Welcome to ACCO Brands First Quarter 2022 Conference Call. Speaking on the call today are Boris Elisman, Chairman and Chief Executive Officer of ACCO Brands; and Deb O’Connor, Executive Vice President and Chief Financial Officer.

Slides that accompany this call have been posted to the Investor Relations section of When speaking about our results, we may refer to adjusted results. Adjusted results exclude transaction, integration, amortization and restructuring costs and other nonrecurring items, including the change in fair value of the contingent consideration related to the PowerA earn-out and reflect an adjusted tax rate. Schedules of adjusted results and other non-GAAP financial measures and a reconciliation of these measures to the most directly comparable GAAP measures are in the earnings release and slides that accompany this call.

Due to the inherent difficulty in forecasting and quantifying certain amounts, we do not reconcile our forward-looking non-GAAP measures. Forward-looking statements made during the call, including statements concerning the impacts of the COVID-19 pandemic on the company, are based on the beliefs and assumptions of management based on information available to us at the time the statements are made. Our forward-looking statements are subject to risks and uncertainties and our actual results could differ materially. Please refer to our earnings release and SEC filings for an explanation of certain of these risk factors and assumptions. Our forward-looking statements are made as of today and we assume no obligation to update them going forward. Following our prepared remarks, we will hold a Q&A session.

Now I will turn the call over to Boris Elisman.

Boris Elisman

Good morning, everyone. Thank you for joining us. Before I begin my comments for the quarter, I would like to formally welcome Deb O’Connor, our new CFO. Deb joined ACCO Brands on April 4th, and we’re very pleased to have her on board. Deb will follow me with a financial review of the quarter, and then we will both take your questions. Moving now to our first quarter. Following a record sales year in 2021, we have started 2022 with an excellent first quarter, posting strong sales and higher EPS. This performance is a result of the strategic transformation of our company towards sustainable comparable sales growth.

I am particularly pleased with this quarter’s performance as we continue to execute well in an environment of high inflation and supply chain constraints. The 11% comparable sales growth for our total business was higher than our expectations and included both …….



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