|Bid||46.11 x 800|
|Ask||46.20 x 1100|
|Day's Range||45.04 - 48.50|
|52 Week Range||17.86 - 48.50|
|Beta (5Y Monthly)||2.22|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 03, 2021 - Aug 09, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Feb 28, 2020|
|1y Target Est||55.50|
Good morning, and thank you for joining us for The ODP Corporation's first quarter 2021 earnings conference call. This is Tim Perrott and I'm here with Gerry Smith, our CEO; and Anthony Scaglione, our Executive Vice President and CFO. Also joining us today is David Bleisch, our Executive Vice President and Chief Legal and Administrative Officer.
Shares of ODP (NASDAQ: ODP) jumped by as much as 14% in Wednesday morning trading after the company reported first-quarter earnings and announced plans to split itself into two publicly traded companies. The parent company of retailers Office Depot and OfficeMax said it has made significant progress in its digital transformation and in its pivot toward a business-to-business (B2B) strategy. In order to unlock shareholder value, ODP announced a tax-free spinoff of its B2B segment into an independent company.
Office Depot traded higher after the chain posted first-quarter earnings that exceeded expectations and said it would spin off its distribution business.