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Sep 30, 2022
Deluxe Q3 2022 Earnings Report
Delivered consolidated revenue growth and reaffirmed full-year guidance
Key Takeaways
Deluxe reported a 4.3% increase in consolidated revenue, driven by Payments, Promotional Solutions, and Checks. Net income rose by 17.6% to $14.7 million, and Adjusted EBITDA improved by 1.9% to $104.6 million. The company reaffirmed its full-year 2022 guidance.
Consolidated revenue grew by 4.3% in Q3, led by Payments, Promotional Solutions, and Checks.
Excluding business exits, revenue growth was 6.6%, with all four segments showing year-over-year sales growth.
Net income increased by 17.6% year-over-year to $14.7 million.
Adjusted EBITDA improved by 1.9% year-over-year to $104.6 million.
Forward Guidance
The Company continues to expect revenue growth of 8% to 10% as reported; or 10% to 12% excluding the impact of business exits. Adjusted EBITDA margin rate of 18.5% to 19.0%. Capital expenditures of approximately $105 million.
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