OfficeMax Inc. Third Quarter Earnings Sneak Peek

OfficeMax, Inc. (NYSE:OMX) will unveil its latest earnings on Thursday, October 27, 2011. OfficeMax provides office supplies and paper, print, and document services, technology products, and furniture to businesses, government offices, and consumers.

OfficeMax, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 24 cents per share, a rise of 4.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 26 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 24 cents during the last month. Analysts are projecting profit to rise by 24.7% versus last year to 67 cents.

Last quarter, the company came in at profit of 7 cents per share against a mean estimate of 0 cents per share, beating estimates after missing them in the previous quarter. In the first quarter, it missed forecasts by 14 cents.

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Wall St. Revenue Expectations: Analysts are projecting a decline of 0.6% in revenue from the year-earlier quarter to $1.8 billion.

Analyst Ratings: Analysts are bullish on OfficeMax as four analysts rate it as a buy, one rates it as a sell and four rate it as a hold.

A Look Back: In the second quarter, the company swung to a loss of $2.5 million (4 cents a share) from a profit of $12.4 million (14 cents) a year earlier, but beat analyst expectations. Revenue fell 0.3% to $1.65 billion from $1.65 billion.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 2.8% in the first quarter from the year earlier, dropped 2.4% in fourth quarter of the last fiscal year from the year-ago quarter and 1% in the third quarter of the last fiscal year.

OfficeMax’s loss in the latest quarter followed profits in the previous three quarters. The company reported a profit of $11.9 million in the first quarter, a profit of $12.7 million in the fourth of the last fiscal year and a profit of $20.5 million in the third quarter of the last fiscal year.

Competitors to Watch: Staples, Inc. (NASDAQ:SPLS), Office Depot, Inc. (NYSE:ODP), Walgreens (NYSE:WAG), CVS (NYSE:CVS), United Stationers Inc. (NASDAQ:USTR), Inc. (NASDAQ:STMP), Wal-Mart (NYSE:WMT) and Target (NYSE:TGT).

Stock Price Performance: During July 28, 2011 to October 21, 2011, the stock price had fallen $1.99 (-27.3%) from $7.30 to $5.31. The stock price saw one of its best stretches over the last year between June 10, 2011 and June 21, 2011 when shares rose for eight-straight days, rising 23.1% (+$1.45) over that span. It saw one of its worst periods between April 7, 2011 and April 18, 2011 when shares fell for eight-straight days, falling 15% (-$2.10) over that span. Shares are down $12.39 (-70%) year to date.

(Source: Xignite Financials)

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