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Sep 30, 2023
Deluxe Q3 2023 Earnings Report
Reported third quarter results and increased full-year 2023 earnings outlook.
Key Takeaways
Deluxe reported a decrease in revenue by 3.1%, but comparable adjusted revenue was flat year-over-year. The company experienced a net loss of $8.0 million, down from a net income of $14.7 million in the prior year. However, the company increased its full-year 2023 guidance for adjusted EBITDA and adjusted EPS.
Revenue decreased 3.1%, but comparable adjusted revenue was flat year-over-year.
GAAP diluted EPS was ($0.18), while adjusted diluted EPS was $0.79.
Net loss of $8.0 million, down from net income of $14.7 million in the prior year.
Adjusted EBITDA decreased 2.6%, while comparable adjusted EBITDA increased 3.0%.
Revenue by Segment
Forward Guidance
The Company updated the following guidance for full-year 2023, inclusive of divestitures, and all figures are approximate:
Positive Outlook
- Revenue of $2.180 to $2.220 billion, unchanged from our prior guidance
- Adjusted EBITDA of $405 to $420 million, up from $400 to $415 million
- Adjusted EPS of $3.20 to $3.45, up from $3.10 to $3.40
Challenges Ahead
- Free cash flow of $60 to $80 million, lowered from $80 to $100 million to reflect in-year cash charges
Historical Earnings Impact
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Avg. Return Before/After Earnings
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