ACCO Brands Updates 2026 Outlook After Trust Close

The Tip Desk · November 10, 2026 · 3 min read

The company now expects full-year adjusted EPS of $0.98 to $1.02, including $0.12 from tariff refunds, after third-quarter sales of $380.3 million.

ACCO Brands Corporation (ACCO) issued a full-year 2026 outlook that incorporates the Trust acquisition and tariff refunds after closing the deal on October 1, 2026, even as comparable sales fell 6.2% in the third quarter.

The global maker of technology peripherals, workspace solutions, education and creative products reported net sales of $380.3 million for the quarter ended September 30, 2026, down 0.9% from $383.7 million a year earlier. The company said the decline reflected 4.9% growth from the EPOS acquisition and 0.4% from favorable foreign exchange, more than offset by the comparable-sales drop. Technology peripherals experienced softness due to global industry-wide challenges.

The comparable-sales decline widened from a 2.3% drop in the second quarter. President and Chief Executive Officer Tom Tedford said third-quarter sales were consistent with the outlook, driven by a solid back-to-school season in North America and Mexico and stabilizing trends in Workspace Solutions.

Net tariff refunds benefited consolidated operating income by $15.1 million in the quarter, a $0.11 per share benefit and 400 basis points of improvement in the consolidated adjusted operating margin. Diluted earnings were $0.12 a share, compared with $0.04 a year earlier. Adjusted diluted EPS was $0.28, including the $0.11 tariff-refund benefit, versus $0.21 in 2025.

Operating income was $30.3 million, compared with $26.0 million in 2025. Current-year operating income included one-time charges of $5.9 million, versus $1.5 million a year earlier. Adjusted operating income increased to $47.8 million from $39.2 million, reflecting cost savings partly offset by lower mix. Both current-year operating income and adjusted operating income include the $15.1 million in net tariff refunds.

ACCO Brands Americas net sales were $219.8 million, down 3.4% from $227.6 million. Growth from EPOS of 2.0% and favorable foreign currency of 1.0% were more than offset by a 6.4% comparable-sales decline. The Americas comparable-sales decline widened from a 1.8% increase in the second quarter. The company said lower demand for technology peripherals was offset by growth in Latin America. Third-quarter Americas operating income was $25.4 million; adjusted operating income was $38.1 million.

ACCO Brands International net sales were $160.5 million, up 2.8% from $156.1 million. EPOS added 9.2% and unfavorable foreign exchange reduced sales 0.4%. Comparable sales were down 6.0% year-over-year, reflecting lower demand for technology peripherals and softness in Australia. The International comparable-sales decline narrowed from a 9.3% drop in the second quarter. International operating income was $12.4 million, compared with $10.5 million a year earlier. Adjusted operating income was $17.0 million, versus $15.9 million.

Tedford said technology peripherals remain the company’s strongest long-term growth opportunity. With Kensington, PowerA, EPOS and Trust, the company said it now has a scaled platform across consumer and enterprise channels in large growth categories, and that the Trust close will expand the tech peripheral portfolio to approach $500 million of pro forma annual sales.

Cash and cash equivalents were $174.7 million at quarter-end, including cash held for the Trust acquisition. The consolidated leverage ratio was 3.6x as of September 30, 2026. Year to date, free cash flow was $89.0 million, including $21.3 million of tariff refunds, compared with $25.8 million in the prior year.

For the full year, the company expects reported sales to increase 4.0% to 6.0%, updated to include one quarter of expected sales from Trust. Full-year adjusted EPS is expected to be $0.98 to $1.02, inclusive of $0.12 from the tariff refund. The company expects 2026 free cash flow of approximately $100 million and a consolidated leverage ratio of approximately 3.5x at year-end. On October 23, the board declared a regular quarterly cash dividend of $0.075 a share, payable December 9, 2026.