ODP Issues Financial Outlook Through 2025; To Return $1 Bln In Capital To Shareholders Over 3 Years

(RTTNews) - The ODP Corp. (ODP) said, over the next three years, the company forecasts adjusted earnings per share increasing to approximately $7.00-8.00 in 2025, representing a CAGR of approximately 15-25%. The company also targets adjusted EBITDA margin expansion by 2025 of 100 bps, greater than 6%. Revenue is projected increasing to $8.5-8.7 billion in 2025, representing a CAGR of approximately 1%.

The company also announced that its Board has unanimously approved a new $1 billion share repurchase authorization, available through year end 2025, replacing its prior $600 million authorization. The new authorization is expected to be completed by year-end 2025.

During third quarter, ODP Corp. repurchased about 1.9 million shares for approximately $70 million. The company reconfirmed outlook for the balance of the fiscal year.