Why ACCO Brands Stock Jumped 20% Today
Shares of ACCO Brands (NYSE: ACCO) popped more than 20% on Wednesday, following the release of the company's second-quarter financial results.
The owner of brands such as Five Star and Mead delivered record sales of $518.7 million, representing year-over-year growth of 4% and 6.8% when excluding the impact of foreign currency movements.
Better still, ACCO Brands' operating income jumped 18.5% to $61.4 million, while net income surged 39.7% to $35.9 million. All told, the company's earnings per share came in at $0.35, which was above analysts' estimates for EPS of $0.32.
Quelle Fool.com
