<p>ACCO Brands Corp 最近的财报电话会议呈现出复杂的情绪，反映了成就与挑战并存。公司成功执行了战略举措，在成本降低方面取得了进展，并在某些细分市场上实现了市场份额增长。然而，这些积极因素受到销售挑战、需求限制和地区困难的影响。尽管面临这些障碍，ACCO Brands 对未来增长仍持乐观态度，主要得益于新产品的推出和定价策略。</p>
<h2>改进的运营结构实现每股收益预期</h2>
<p>尽管销售略低于预期，ACCO Brands 改进的运营结构使公司能够满足调整后的每股收益预期。公司还报告称毛利率提高了 50 个基点，展示了其运营策略的有效性。</p>
<h2>1 亿美元成本降低计划进展</h2>
<p>ACCO Brands 在成本降低方面取得了显著进展，在第三季度实现了额外的 1000 万美元节省。这使得累计总额达到约 5000 万美元，展示了公司提升运营效率的承诺。</p>
<h2>开学季品牌市场份额增长</h2>
<p>公司旗下的 Five Star 和 Mead 品牌在美国开学季期间实现了市场份额增长。这一增长突显了这些品牌在竞争激烈的市场中的实力和吸引力。</p>
<h2>技术配件领域的积极发展</h2>
<p>ACCO Brands 对其技术配件领域的增长回归持乐观态度。这种乐观情绪源于新产品的推出和更强劲的终端用户管道，预计将提升未来的业绩。</p>
<h2>Buro Seating 收购的成功整合</h2>
<p>Buro Seating 的整合非常成功，ACCO Brands 现在正在评估超越澳大利亚和新西兰的地理扩展机会。这一战略举措可能会打开新市场并推动进一步增长。</p>
<h2>强劲的现金流管理</h2>
<p>公司报告称截至目前的调整后自由现金流为 4200 万美元，专注于减少债务。季度末的杠杆比率为 4.1 倍，ACCO Brands 正在谨慎管理其财务资源。</p>
<h2>销售低于预期</h2>
<p>第三季度的销售略低于预期，归因于全球需求疲软和与关税相关的价格上涨时机问题。这一短缺突显了外部经济因素带来的挑战。</p>
<h2>美洲和国际市场的销售下降</h2>
<p>美洲和国际市场的销售分别下降了 12% 和 7%。这些下降是由于需求降低和时机问题，反映了更广泛的市场挑战。</p>
<h2>巴西和欧洲的挑战</h2>
<p>巴西的销售低于预期，主要由于采购决策延迟。在欧洲，需求下降，尤其是在德国、英国和法国，突显了地区经济困难。</p>
<h2>整体需求趋势受限</h2>
<p>全球宏观经济因素继续制约需求，消费者和商业支出的不确定性以及波动的关税政策影响了业绩。</p>
<h2>游戏配件销售下降</h2>
<p>由于对传统游戏机的需求减少以及任天堂 Switch 2 配件的时机问题，PowerA 的销售下降，突显了游戏领域的挑战。</p>
<h2>前瞻性指导</h2>
<p>尽管第三季度面临挑战，ACCO Brands 仍维持全年指导。公司预计报告销售将下降 7% 至 8.5%，调整后的每股收益将在 0.83 美元至 0.90 美元之间。此外，ACCO Brands 预计调整后的自由现金流将在 9000 万美元至 1 亿美元之间，年末净杠杆比率约为 3.9 倍。公司对其长期战略以实现增长和可持续性保持信心。</p>
<p>总之，ACCO Brands Corp 的财报电话会议描绘了在挑战中展现出的韧性。尽管公司面临销售和需求的障碍，但其战略举措和成本降低努力正在产生积极成果。前瞻性指导反映出谨慎而乐观的前景，ACCO Brands 准备应对当前的经济不确定性并追求增长机会。</p>

ACCO

<p>ACCO Brands Corp 最近的财报电话会议透露了混合的情绪，强调了在战略举措和成本削减方面的成就，同时也面临销售和需求的挑战。尽管销售略有下降，公司仍达到了调整后的每股收益预期，毛利率有所改善，并实现了显著的成本节约。市场份额在返校品牌中有所增长，而对科技配件的前景依然乐观。然而，销售在美洲和国际市场上有所下降，归因于全球需求的限制。ACCO Brands 维持全年指导，预计销售将下降 7% 至 8.5%，调整后的每股收益在 0.83 美元至 0.90 美元之间，反映出谨慎但乐观的前景</p>

<p>The recent earnings call for ACCO Brands Corp presented a mixed sentiment, reflecting both achievements and challenges. The company successfully executed strategic initiatives, made progress in cost reduction, and saw market share growth in certain segments. However, these positives were tempered by sales challenges, demand constraints, and regional difficulties. Despite these hurdles, ACCO Brands remains optimistic about future growth, driven by new product launches and pricing strategies.</p>
<div class="lb-trans"><p>ACCO Brands Corp 最近的财报电话会议呈现出复杂的情绪，反映了成就与挑战并存。公司成功执行了战略举措，在成本降低方面取得了进展，并在某些细分市场上实现了市场份额增长。然而，这些积极因素受到销售挑战、需求限制和地区困难的影响。尽管面临这些障碍，ACCO Brands 对未来增长仍持乐观态度，主要得益于新产品的推出和定价策略。</p>
</div><h2>Improved Operating Structure Achieves EPS Outlook</h2>
<div class="lb-trans"><h2>改进的运营结构实现每股收益预期</h2>
</div><p>Despite sales being slightly below expectations, ACCO Brands’ improved operating structure enabled the company to meet its adjusted EPS outlook. The company also reported an improvement in gross margins by 50 basis points, showcasing the effectiveness of its operational strategies.</p>
<div class="lb-trans"><p>尽管销售略低于预期，ACCO Brands 改进的运营结构使公司能够满足调整后的每股收益预期。公司还报告称毛利率提高了 50 个基点，展示了其运营策略的有效性。</p>
</div><h2>$100 Million Cost Reduction Program Progress</h2>
<div class="lb-trans"><h2>1 亿美元成本降低计划进展</h2>
</div><p>ACCO Brands made significant strides in its cost reduction efforts, realizing an additional $10 million in savings during the third quarter. This brings the cumulative total to approximately $50 million, demonstrating the company’s commitment to enhancing operational efficiency.</p>
<div class="lb-trans"><p>ACCO Brands 在成本降低方面取得了显著进展，在第三季度实现了额外的 1000 万美元节省。这使得累计总额达到约 5000 万美元，展示了公司提升运营效率的承诺。</p>
</div><h2>Market Share Growth in Back-to-School Brands</h2>
<div class="lb-trans"><h2>开学季品牌市场份额增长</h2>
</div><p>The company’s Five Star and Mead brands experienced market share growth during the U.S. back-to-school season. This growth highlights the strength and appeal of these brands in a competitive market.</p>
<div class="lb-trans"><p>公司旗下的 Five Star 和 Mead 品牌在美国开学季期间实现了市场份额增长。这一增长突显了这些品牌在竞争激烈的市场中的实力和吸引力。</p>
</div><h2>Positive Developments in Technology Accessories</h2>
<div class="lb-trans"><h2>技术配件领域的积极发展</h2>
</div><p>ACCO Brands is optimistic about a return to growth in its technology accessories segment. This optimism is driven by new product launches and a more robust end-user pipeline, which are expected to boost future performance.</p>
<div class="lb-trans"><p>ACCO Brands 对其技术配件领域的增长回归持乐观态度。这种乐观情绪源于新产品的推出和更强劲的终端用户管道，预计将提升未来的业绩。</p>
</div><h2>Successful Integration of Buro Seating Acquisition</h2>
<div class="lb-trans"><h2>Buro Seating 收购的成功整合</h2>
</div><p>The integration of Buro Seating has been successful, and ACCO Brands is now evaluating opportunities for geographic expansion beyond Australia and New Zealand. This strategic move could open new markets and drive further growth.</p>
<div class="lb-trans"><p>Buro Seating 的整合非常成功，ACCO Brands 现在正在评估超越澳大利亚和新西兰的地理扩展机会。这一战略举措可能会打开新市场并推动进一步增长。</p>
</div><h2>Strong Cash Flow Management</h2>
<div class="lb-trans"><h2>强劲的现金流管理</h2>
</div><p>The company reported year-to-date adjusted free cash flow of $42 million, focusing on debt reduction. With a leverage ratio of 4.1x at the quarter’s end, ACCO Brands is managing its financial resources prudently.</p>
<div class="lb-trans"><p>公司报告称截至目前的调整后自由现金流为 4200 万美元，专注于减少债务。季度末的杠杆比率为 4.1 倍，ACCO Brands 正在谨慎管理其财务资源。</p>
</div><h2>Sales Below Expectations</h2>
<div class="lb-trans"><h2>销售低于预期</h2>
</div><p>Third-quarter sales were slightly below expectations, attributed to softer global demand and timing issues with tariff-related price increases. This shortfall highlights the challenges posed by external economic factors.</p>
<div class="lb-trans"><p>第三季度的销售略低于预期，归因于全球需求疲软和与关税相关的价格上涨时机问题。这一短缺突显了外部经济因素带来的挑战。</p>
</div><h2>Decline in Americas and International Segments</h2>
<div class="lb-trans"><h2>美洲和国际市场的销售下降</h2>
</div><p>Sales in the Americas and international segments declined by 12% and 7%, respectively. These declines were driven by lower demand and timing issues, reflecting broader market challenges.</p>
<div class="lb-trans"><p>美洲和国际市场的销售分别下降了 12% 和 7%。这些下降是由于需求降低和时机问题，反映了更广泛的市场挑战。</p>
</div><h2>Challenges in Brazil and Europe</h2>
<div class="lb-trans"><h2>巴西和欧洲的挑战</h2>
</div><p>Sales in Brazil were weaker than expected due to delayed purchasing decisions. In Europe, demand was down, particularly in Germany, the U.K., and France, underscoring regional economic difficulties.</p>
<div class="lb-trans"><p>巴西的销售低于预期，主要由于采购决策延迟。在欧洲，需求下降，尤其是在德国、英国和法国，突显了地区经济困难。</p>
</div><h2>Overall Demand Trends Constrained</h2>
<div class="lb-trans"><h2>整体需求趋势受限</h2>
</div><p>Global macroeconomic factors continue to constrain demand, with uncertainties in consumer and business spending and fluctuating tariff policies impacting performance.</p>
<div class="lb-trans"><p>全球宏观经济因素继续制约需求，消费者和商业支出的不确定性以及波动的关税政策影响了业绩。</p>
</div><h2>Gaming Accessories Sales Decline</h2>
<div class="lb-trans"><h2>游戏配件销售下降</h2>
</div><p>PowerA sales declined due to reduced demand for legacy consoles and timing for Nintendo Switch 2 accessories, highlighting challenges in the gaming segment.</p>
<div class="lb-trans"><p>由于对传统游戏机的需求减少以及任天堂 Switch 2 配件的时机问题，PowerA 的销售下降，突显了游戏领域的挑战。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>Despite the challenges faced in the third quarter, ACCO Brands maintained its full-year guidance. The company expects reported sales to decrease by 7% to 8.5% and adjusted EPS to range between $0.83 and $0.90. Additionally, ACCO Brands anticipates adjusted free cash flow of $90 million to $100 million and a net leverage ratio of approximately 3.9x by year-end. The company remains confident in its long-term strategy to reposition for growth and sustainability.</p>
<div class="lb-trans"><p>尽管第三季度面临挑战，ACCO Brands 仍维持全年指导。公司预计报告销售将下降 7% 至 8.5%，调整后的每股收益将在 0.83 美元至 0.90 美元之间。此外，ACCO Brands 预计调整后的自由现金流将在 9000 万美元至 1 亿美元之间，年末净杠杆比率约为 3.9 倍。公司对其长期战略以实现增长和可持续性保持信心。</p>
</div><p>In summary, ACCO Brands Corp’s earnings call painted a picture of resilience amid challenges. While the company faces sales and demand hurdles, its strategic initiatives and cost reduction efforts are yielding positive results. The forward-looking guidance reflects a cautious yet optimistic outlook, with ACCO Brands poised to navigate current economic uncertainties and pursue growth opportunities.</p>
<div class="lb-trans"><p>总之，ACCO Brands Corp 的财报电话会议描绘了在挑战中展现出的韧性。尽管公司面临销售和需求的障碍，但其战略举措和成本降低努力正在产生积极成果。前瞻性指导反映出谨慎而乐观的前景，ACCO Brands 准备应对当前的经济不确定性并追求增长机会。</p>
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ACCO Brands 财报电话会议：在挑战中情绪复杂