Deluxe Corp Stock Price, News & Analysis

Deluxe (NYSE: DLX) reported a 10.7% increase in full-year revenue, reaching $2,238 million, with a 4.3% rise in net income to $65.5 million. Adjusted EBITDA margin stood at 18.7%. The fourth quarter saw a 1.2% decline in revenue to $564 million, while net income climbed 37.7% to $19 million. The company announced the divestiture of its web hosting businesses and renamed its Cloud Solutions segment to Data Solutions. Looking ahead, Deluxe projects 2023 revenue between $2.145 and $2.210 billion, with adjusted EPS anticipated to decline.

Deluxe (NYSE:DLX) announced the sale of its web hosting and logo design businesses to HostPapa, a global web hosting provider for small and medium businesses. The transaction is set to close in Q1, contingent on customary conditions. Deluxe aims to focus on its core payments and data business, while HostPapa will enhance its offerings with Deluxe's web solutions. This move marks Deluxe's complete exit from the web hosting market, having previously sold its Australian operations. The terms of the sale are undisclosed.

Deluxe (NYSE: DLX) will release its fourth quarter and full year 2022 financial results on February 2, 2023, before market opening. A conference call hosted by management will take place at 8:30 a.m. ET, where stakeholders can participate by calling 1-888-210-4748 with access code 7092711. The event will also be available via a webcast on Deluxe's investor relations website. For those unable to attend live, a replay will be accessible from 11:30 a.m. ET until midnight on February 9, 2023. Deluxe is a leader in payments and business technology, processing approximately $3 trillion in annual payment volume.

Deluxe announced the integration of Ingenico hardware into its enterprise payment gateway, enhancing merchant connectivity and transaction capability. The integration supports recurring payments, tokenization, and EMV payments, aiding software vendors in maximizing revenue and minimizing PCI scope. Deluxe's President noted this development as a significant technological advancement in the payments ecosystem, aligned with their customer-centric mission. This solution is now available with Ingenico devices, enhancing the payment experience for independent software vendors and their clients.

Deluxe reported 4.3% consolidated revenue growth, totaling $555 million in Q3 2022, with all segments experiencing year-over-year increases. Net income rose 17.6% to $14.7 million, while adjusted EBITDA improved by 1.9% to $104.6 million. The adjusted diluted EPS was $0.99, down 10.0% year-over-year. Despite inflation, strong demand and pricing actions contributed to growth. The company reaffirmed its full-year 2022 guidance, expecting 8%-10% revenue growth and an adjusted EBITDA margin of 18.5%-19.0%. A quarterly dividend of $0.30 per share was also approved.

Deluxe (NYSE: DLX) has released findings from its DLX Small- and Mid-Sized Business Accounts Payable Study, revealing insights into the U.S. accounts payable market. Surveying over 400 decision-makers, the study highlights the importance of reliability (82%) and security (79%) in digital payment solutions. Deluxe Payment Exchange was recognized as a top solution for reliability and customer service. The research indicates that businesses are expected to continue purchasing digital payment solutions in the coming year, reflecting a shift in the business-to-business payments landscape.

Deluxe (NYSE: DLX) will announce its third quarter 2022 financial results on Thursday, November 3, 2022, prior to market opening. Management will host a conference call at 8:30 a.m. ET, accessible by dialing 1-888-210-4748 (access code: 7092711). A live webcast will also be available on the investor relations website. For those unable to attend live, a replay will be offered from 11:30 a.m. ET on the same day until midnight on November 10, 2022, via 1-800-770-2030 (access code: 7092711).

Deluxe (NYSE: DLX) announces Chip Zint as the new Senior Vice President and Chief Financial Officer, effective October 17, succeeding Scott Bomar, who is moving to a role at a former employer. Zint, who joined Deluxe in 2020, previously served as Vice President of Corporate Finance and played a key role in the acquisition of First American. Deluxe reaffirms its full-year fiscal 2022 financial guidance, projecting revenue growth between 10% and 12%, with adjusted EBITDA rates of 18.5% to 19.0%. The company emphasizes its strong internal talent pool and succession planning under CEO Barry McCarthy.