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Dec 31, 2021
Deluxe Q4 2021 Earnings Report
Reported strong fourth quarter and full year results.
Key Takeaways
Deluxe reported its Q4 2021 results, showing revenue growth of 25.5% and net income attributable to Deluxe of $13.8 million. All four segments delivered year-over-year sales-driven revenue growth. The First American acquisition accelerated transformation and exceeded expectations.
Consolidated fourth quarter revenue increased 25.5%, up 6.8%, excluding contribution from First American.
All four segments delivered year-over-year sales-driven revenue growth in the fourth quarter.
Fourth quarter net income was up 10.4% from the third quarter of 2021 and adjusted EBITDA margin was 20.5%, up 120 basis points sequentially from the third quarter of 2021.
Declared regular quarterly dividend.
Forward Guidance
The company expects revenue growth of 8% to 10%, adjusted EBITDA margin of approximately 20%, and capital expenditures of approximately $105 million for full year 2022.
Positive Outlook
- Revenue growth of 8% to 10%, which includes a full year impact from First American
- Adjusted EBITDA margin of approximately 20%
- Capital expenditures of approximately $105 million
- Full year impact from First American
- Revenue growth
Challenges Ahead
- Macroeconomic unknowns associated with the COVID-19 pandemic, including the Omicron variant
- Anticipated continued supply chain constraints
- Labor supply issues
- Inflation
- COVID-19 pandemic
Historical Earnings Impact
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Avg. Return Before/After Earnings
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