The ODP Corporation (NASDAQ: ODP), Boca Raton, Fla., a provider of business services, products and digital workplace technology solutions, announced its sales fourth-quarter and full-year sales ended December 31, 2022.
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Sales for the fourth quarter were $2.1 billion, up 3% from the prior-year period. Full-year sales were $8.5 billion with no change from the prior-year period.
The adjusted net profit for the quarter was $40 million, up 8.1% from the prior-year period. Adjusted net profit for the year was $216 million, down 7.7%.
ODP Business Solutions Division’s fourth-quarter sales were $1 billion, up 10% from the prior-year period. Adjacency category sales including cleaning and breakroom, furniture, technology, and copy and print were 44% of total ODP Business Solutions’ sales, flat year-over-year.
Varis, a tech-enabled B2B indirect procurement marketplace, generated revenues in the quarter of $2 million and an operating loss of $18 million as the business continues to add new capabilities, customers and relationships, and incurred costs related to launching the platform during the fourth quarter.
