ACCO Brands Corp Q1 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Karru Martinson - Jefferies LLC, Research Division - Analyst : When you look at the range of sales down 25% to 40% in line kind of with what we've been hearing from others, what are the parameters of what guides that wide range? What has to happen that we come in at the short end? And where do we come in at the long end? In terms of the pace of openings, the return back to work, school? Obviously, is not coming back this spring here.

Question: Karru Martinson - Jefferies LLC, Research Division - Analyst : Okay. And then when we look at the positive cash flow for the year, certainly, cushion for you guys to continue to pay the dividend. Any thought given to bolstering that cushion that you guys have? Your leverage is materially low. We've seen others raising capital just to put cash on the balance sheet as a safety cushion and your thoughts on the capital structure with that?

Question: Karru Martinson - Jefferies LLC, Research Division - Analyst : And you alluded to my next question. In terms of M&A, are you seeing some of the smaller competitors there is out there having financial difficulties? Is there stuff coming to market in terms of the pipeline?