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Dec 31, 2023
Deluxe Q4 2023 Earnings Report
Reported fourth quarter and full year 2023 results and affirmed full year 2024 outlook.
Key Takeaways
Deluxe reported a decrease in revenue by 4.7% for the fourth quarter, with a net income of $15.0 million. However, the company improved its net debt position and leverage ratio during 2023, and the enterprise has strong momentum aligned with its core capital allocation priorities as 2024 begins.
Revenue for the fourth quarter decreased 4.7% from the previous year.
Comparable adjusted revenue decreased 2.0% compared to the previous year.
Net income of $15.0 million was down from $19.0 million in the fourth quarter of 2022.
Adjusted diluted EPS was $0.80 versus $1.04 in the prior year.
Revenue by Segment
Forward Guidance
The Company expects the following for full-year 2024, inclusive of expected business exits, and all figures are approximate:
Positive Outlook
- Revenue of $2.14 to $2.18 billion
- Adjusted EBITDA of $400 to $420 million
- Adjusted EPS of $3.10 to $3.40
- Free cash flow of $60 to $80 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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