Deluxe Corp. ( (DLX) ) has released its Q3 earnings. Here is a breakdown of the information Deluxe Corp. presented to its investors.
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Deluxe Corporation, a Trusted Payments and Data company, provides solutions to help businesses manage payments and data, supporting millions of small businesses and financial institutions. The company reported its third-quarter earnings for 2024, highlighting a slight decrease in revenue but a significant turnaround in net income. Revenue for the quarter decreased by 1.7% compared to the previous year, with comparable adjusted revenue down by 0.7%. However, Deluxe achieved a net income of $8.9 million, a notable improvement from a net loss of $8.0 million in the same quarter of 2023, driven by effective cost management and gains from business exits. Key performance metrics included a 6.9% increase in comparable adjusted EBITDA to $104.5 million and a 12.0% rise in comparable adjusted diluted EPS to $0.84. Year-to-date operating cash flows increased by 16.7% to $134.1 million, and free cash flow reached $64.3 million over the nine-month period. Looking ahead, Deluxe has narrowed its full-year 2024 guidance, setting revenue expectations between $2.12 and $2.14 billion, adjusted EBITDA between $405 and $415 million, and adjusted diluted EPS between $3.20 and $3.35. The company’s strategic focus on transforming towards Payments and Data, along with its capital allocation priorities, positions it confidently for future growth.
