Deluxe reports Q3 adjusted EPS 79c, consensus 74c

Reports Q3 revenue $537.8M, consensus $537.43M. “We are pleased with our Q3 and year-to-date results, as comparable adjusted EBITDA expanded faster than revenue for the third consecutive quarter, putting us on-track for meaningful full- year operating leverage across the business, and demonstrating the true scalability of our portfolio,” said Barry McCarthy, CEO. “In addition, our execution against the new holistic enterprise-wide North Star initiative will extend this momentum, enabling our ability to drive more than $100M of run-rate free cash flow and $80 million of incremental run-rate EBITDA over our multi-year planning horizon.” “We continued our strong momentum during the third quarter, including significant sequential improvement in free cash flow, and continued reduction of our net debt levels,” said Chip Zint, CFO. “Given our year-to-date results and our outlook for the year, including expected fourth-quarter benefits from the North Star initiative, we are once again raising our full-year 2023 earnings guidance.”