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Deluxe Corporation (NYSE: DLX) reports developments as a payments and data company serving small businesses, financial institutions and large consumer brands. Its business spans Merchant Services, B2B Payments, Data Solutions and Print, including electronic card authorization and processing, treasury management, integrated accounts payable disbursements, data and analytics services, financial institution reporting, business incorporation services, checks, business essentials and branded print solutions.
Company news commonly covers quarterly results, merchant-services and payment-platform partnerships, product and technology modernization, and board governance. Updates also describe how Deluxe extends payment capabilities through financial institution and software relationships, while recurring financial releases discuss operating results, cash flow, debt and segment performance.
Deluxe (NYSE: DLX) reported a strong 17.7% revenue growth in Q2 2022, totaling $563 million. Net income surged to $22.1 million, up 82.6% year-over-year, largely due to gains from the sale of its Australian web hosting business. However, Adjusted EBITDA margin fell to 18.1%, impacted by inflation and supply chain disruptions. The company declared a quarterly dividend of $0.30 per share, payable on September 6, 2022. Full year 2022 revenue growth is now forecasted at 10-12%, but Adjusted EBITDA rate expectations have been lowered to 18.5%-19.0%.
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Deluxe (NYSE: DLX) will announce its second quarter 2022 financial results on August 4, 2022, before market open. An open-access conference call will take place at 8:30 a.m. ET the same day, accessible by calling 1-888-210-4748 (access code: 7092711). A webcast will also be available on the investor relations website. For those unable to listen live, a replay can be accessed after 11:30 a.m. ET until midnight on August 11, 2022. Deluxe is a Trusted Payments and Business Technology company, serving millions of businesses with approximately $3 trillion in annual payment volume.
Deluxe (NYSE: DLX) announces the promotions of Jean Herrick to Senior Vice President and Chief Human Resources Officer, and Cameron Potts to Senior Vice President and Chief Communications Officer. Herrick, with nearly 30 years in HR, is expected to enhance growth as a payments and data leader. Potts, part of the team since 2014, has been pivotal in communication strategies during the company's transformation. These promotions reflect Deluxe's commitment to strengthening its leadership as it aims to accelerate its transformation in the business technology sector.
Deluxe (NYSE: DLX) has expanded its partnership with Dupaco Community Credit Union by transitioning over 120 business members to its merchant services. This agreement builds on an existing collaboration, enhancing Deluxe's offerings that already include Checks and Remote Deposit Capture. The move follows Deluxe's acquisition of First American Payment Systems in 2021, enabling a stronger position in the merchant services sector. Terms of the new agreement were not disclosed.
Deluxe's First American Payment Systems has been awarded the ATSI Call Center Award of Distinction for the 10th consecutive year and achieved the top score in the financial services category. This recognition highlights their commitment to quality customer service, with key metrics showing that most calls were answered in under 30 seconds in 2021. The company, acquired by Deluxe in 2021, serves over 155,000 merchants across the Americas and Europe, offering robust payment solutions and support.
Deluxe Corporation (NYSE: DLX) announced that Tracey Engelhardt, President of Checks, has become Chief of Operations, in addition to her current role. Engelhardt brings nearly 30 years of industry experience and is the first woman to hold this position in the company's 107-year history. CEO Barry McCarthy emphasized that her leadership will enhance operational efficiencies and support growth in payments and data services. Deluxe has been recognized for its commitment to gender diversity in leadership, marking 14 years of recognition in Minnesota.
Deluxe (NYSE: DLX) recently announced the issuance of restricted stock unit (RSU) awards to Yogaraj Jayaprakasam, its new Chief Technology and Digital Officer, to incentivize his joining. He received two awards on May 13, totaling 61,062 RSUs, with vesting contingent on continued employment. The RSUs vest over different timelines: half after two years and the remainder quarterly over four years. Deluxe supports a vast range of businesses, processing around $3 trillion in annual payment volume.
Deluxe (NYSE:DLX) has partnered with Codat to enhance its Payroll + HR Solutions, allowing automatic reconciliation of payroll data into accounting software like QuickBooks Online. This integration eliminates the need for manual data entry, saving time and reducing errors for small business owners. The feature will be provided at no additional cost. The collaboration aims to improve payroll processing efficiency, with plans for further integrations with other accounting software in the future, supporting Deluxe's mission to empower small businesses.
Deluxe Corporation has been nominated for an Emmy® for its Small Business Revolution reality show, specifically the sixth season in the Outstanding Lifestyle Program category. This season highlighted six Black-owned businesses in Minneapolis and St. Paul, showcasing how Deluxe's support helped them thrive amidst challenges, including COVID-19. The Creative Arts & Lifestyle Daytime Emmy Awards will take place on June 18, and this nomination marks the second for the series, further validating Deluxe's commitment to assisting small business owners.