The ODP Corporation reported second quarter 2025 consolidated sales of $1.586 billion, an 8% decrease year-over-year. GAAP diluted earnings per share (EPS) from continuing operations was $0.00, while adjusted diluted EPS was $0.51.
Adjusted EBITDA for the quarter was $47 million. Cash provided by operating activities of continuing operations increased to $16 million, and adjusted free cash flow significantly rose to $13 million, a 160% increase compared to the prior year period.
The company raised its full-year 2025 adjusted free cash flow outlook to over $115 million, a significant increase from previous expectations. This positive guidance is based on anticipated continued top-line improvement in the ODP Business Solutions Division and strong performance in the Office Depot Division.
Progress on the 'Optimize for Growth' plan included $12 million in restructuring expenses, leading to the closure of 23 retail stores and 3 distribution facilities. ODP Business Solutions onboarded approximately 1,000 new hotel properties, showing robust month-over-month growth in hospitality categories and driving increased sales of traditional office products to these new customers.
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