Deluxe Reports Third Quarter 2023 Results

*Reported revenue decreased 3.1% including impact from divestitures, while comparable adjusted revenue was flat year-over-year
*Third quarter GAAP diluted EPS was ($0.18) while adjusted diluted EPS was $0.79
*Net loss of $8.0 million including restructuring and other charges in the quarter, down from net income of $14.7 million in the prior year
*Adjusted EBITDA decreased 2.6%, while comparable adjusted EBITDA increased 3.0%
*Increases full-year 2023 guidance for adjusted EBITDA and adjusted EPS

Deluxe (NYSE: DLX), a Trusted Payments and Data company, today reported operating results for its third quarter ended September 30, 2023.

“We are pleased with our third quarter and year-to-date results, as comparable adjusted EBITDA expanded faster than revenue for the third consecutive quarter, putting us on-track for meaningful full- year operating leverage across the business, and demonstrating the true scalability of our portfolio,” said Barry McCarthy, President and CEO of Deluxe. “In addition, our execution against the new holistic enterprise-wide North Star initiative will extend this momentum, enabling our ability to drive more than $100 million of run-rate free cash flow and $80 million of incremental run-rate EBITDA over our multi-year planning horizon.”

“We continued our strong momentum during the third quarter, including significant sequential improvement in free cash flow, and continued reduction of our net debt levels,” said Chip Zint, Senior Vice President and Chief Financial Officer of Deluxe. “Given our year-to-date results and our outlook for the year, including expected fourth-quarter benefits from the North Star initiative, we are once again raising our full-year 2023 earnings guidance.”
details at: https://www.investors.deluxe.com/News/news/news-details/2023/Deluxe-Reports-Third-Quarter-2023-Results-Increases-Full-Year-2023-Earnings-Outlook-Introduces-North-Star-Initiative-to-Drive-Incremental-100-Million-of-Run-Rate-Free-Cash-Flow-by-2026/default.aspx

Related Posts

RRD Announces Vaccination Distribution Toolkit to Support Marketing and Operations for Pending COVID-19 Vaccine

R.R. Donnelley & Sons Company introduces a comprehensive vaccination distribution toolkit — for healthcare providers, government agencies, retail pharmacies, and large enterprise organizations — aimed at delivering quick-turn marketing, communication, and operational support upon the release of an FDA-authorized COVID-19 vaccine. Immediate production of a vaccine program involves many components, e.g., regulatory compliance, multiple vendor coordination, and speed-to-market challenges. RRD’s vaccination distribution toolkit is designed to provide turnkey support in three key areas: 1) Vaccine awareness – direct mail campaigns, digital communications, employee training materials, content and creative translations 2) Clinician and retailer operational needs – signage and wayfinding, prep kits, temperature labels, POP displays, branded promotions and labels 3) Post-vaccination support – care kits, proof of vaccination, second-dose reminders, tip sheets

Sun Chemical Performance Pigments Completes Phase 3 of REACH Registrations Ahead of Deadline

In completing Phase 3, Sun Chemical registered approximately 200 chemical substances with the European Chemicals Agency (ECHA). These registrations emcompass all chemical substances manufactured or imported by the Performance Pigments division in excess of 1000kg per year. “After more than 10 years of extensive testing and risk evaluations, our broad portfolio of colorants and preparations have proven themselves safe for consumers and the environment,” said Gary Andrzejewski, Corporate Vice President Environmental Affairs. “Sun Chemical will continue to lead in product stewardship for the global pigments industry and institute processes to ensure compliance with future REACH requirements.” Click Read More below for additional information.

HP Completes Acquisition of Samsung Electronics Co., Ltd. Printer Business

HP Inc. announced the completion of its acquisition of Samsung Electronics Co., Ltd.’s printer business in a deal valued at $1.05 billion. A3 represents HP’s largest growth opportunity in business printing. The combination with Samsung expands HP’s portfolio, accelerates its ability to disrupt the $55B A3 copier segment with superior multifunction printing technology, and strengthens its leading A4 laser printing business. Samsung also brings compelling intellectual property of more than 6,500 print patents and a world-class workforce of nearly 1,300 researchers and engineers with expertise in laser technology, imaging electronics and supplies and accessories. “As we ignite a renaissance in printing, we’re thrilled to bring together the industry’s best and brightest talent,” said Dion Weisler, President and CEO, HP Inc. “Together, we will build on more than 30 years of print leadership to accelerate our strategy, disrupt new market opportunities, and provide our customers and partners with unique and highly innovative print solutions. Click Read More below for additional information.
Back To Top
×Close search
Search