The ODP Corporation Announces Fourth Quarter and Full Year 2022 Results

The ODP Corporation (“ODP,” or the “Company”) (NASDAQ:ODP), a leading provider of business services, products and digital workplace technology solutions to businesses and consumers today announced results for the fourth quarter and full year ended December 31, 2022.

Fourth Quarter 2022 Summary(1)(3)
Total reported sales of $2.1 billion, up 3% versus the prior year, primarily as a result of higher sales in our B2B distribution division, ODP Business Solutions, offsetting lower sales in our consumer division, Office Depot. Office Depot sales were lower partially driven by 58 fewer retail locations in service compared to the prior year as a result of planned store closures and lower traffic. Consolidated sales results include the favorable impact related to the 53rd week in fourth quarter of 2022 of $128 million
GAAP operating income of $55 million and net income from continuing operations of $36 million, or $0.76 per diluted share, versus $31 million and $32 million, or $0.61 per diluted share, respectively in the prior year. Operating income results include the favorable impact related to the 53rd week in fourth quarter of 2022 of $20 million

Full Year 2022 Summary
Total reported sales of $8.5 billion, flat versus the prior year. Consolidated sales results include the favorable impact related to the 53rd week in 2022 of $128 million
GAAP operating income of $243 million and net income from continuing operations of $178 million, or $3.61 per diluted share, versus $234 million and net income from continuing operations of $187 million, or $3.42 per diluted share, respectively in the prior year. Operating income results include the favorable impact related to the 53rd week in 2022 of $20 million
details at: https://investor.theodpcorp.com/news-releases/news-release-details/odp-corporation-announces-fourth-quarter-and-full-year-2022

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