Staples beats by $0.01, reports revs in-line; guides Q4 EPS in-line, revs in-line
Reports Q3 (Oct) earnings of $0.37 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.36; revenues fell 2.5% year/year to $5.96 bln vs the $5.95 bln consensus.
- Co issues in-line guidance for Q4, sees EPS of $0.27-0.32, excluding non-recurring items, vs. $0.31 Capital IQ Consensus Estimate; sees Q4 revs of lower sales YoY (Q4 2013 $5.873 bln) vs. $5.77 bln Capital IQ Consensus Estimate.
- The company expects to record pre-tax charges in the range of $45 million to $80 million associated with restructuring and other related activities during the fourth quarter of 2014. For the full year, the company expects to generate more than $800 million of free cash flow, an increase from the company's previous guidance of more than $600 million.