Financial Data and Key Metrics Changes - The company reported total revenue of $528.4 million for Q3 2024, down 1.7% year-over-year, and a comparable adjusted revenue decline of 0.7% [31] - Comparable adjusted EBITDA reached $104.5 million, increasing approximately 6.9% from Q3 2023, with adjusted EBITDA margins improving by 140 basis points to 19.8% [34][18] - Free cash flow for Q3 was $46.7 million, reflecting a year-to-date improvement of $30.2 million compared to the same period in 2023 [51] Business Line Data and Key Metrics Changes - **Merchant Services**: Revenue grew by 6.3% year-over-year to $93.5 million, with year-to-date growth at 7.4% [35] - **B2B Payments**: Revenue finished at $75.1 million, showing a sequential improvement and a year-over-year growth of 0.7% [39] - **Data Solutions**: Revenue was $61.1 million, reflecting a year-over-year decline of 4.5% but a sequential increase of 6.4% [43] - **Print Segment**: Revenue was $297.3 million, declining 2.3% year-over-year, with legacy check revenues declining 1.8% [46] Market Data and Key Metrics Changes - The company noted that overall economic uncertainty remains, but trends appear to have stabilized during Q3, with solid processing volumes in the Merchant Services segment [22][21] - The B2B segment is expected to improve sequentially in Q4, supported by a strong pipeline of SaaS opportunities [24] Company Strategy and Development Direction - The North Star program aims to identify $130 million in improvements to baseline comparable adjusted EBITDA results over a multi-year horizon, with $100 million of targeted annualized EBITDA improvements expected by 2026 [13][14] - The company is focused on executing its deleveraging path, having reduced net debt by $45 million sequentially [12] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the trajectory of the B2B and Merchant businesses, anticipating sequential growth in Q4 [63][64] - The company expects to maintain a low to mid-single-digit revenue decline in the Print segment while achieving growth in other segments [68] Other Important Information - The company declared a quarterly dividend of $0.30 per share, payable on December 2, 2024 [55] - Full year guidance was narrowed to revenue of $2.12 billion to $2.14 billion, reflecting a decline of 1% to flat comparable adjusted growth versus 2023 [56] Q&A Session Summary Question: Can you provide insight into consolidated revenue growth for 2025? - Management indicated that while they are pleased with progress, they have not provided specific guidance for 2025, but expect mid to high-single-digit growth in certain segments [61][68] Question: What are the drivers behind the strong EBITDA margin despite revenue being nearly flat? - Management attributed margin improvement to operational efficiency and significant reductions in corporate spending, alongside strong performance in the Data segment [72][75] Question: Are there any changes in the competitive environment or pricing pressure in the Merchant business? - Management acknowledged ongoing competitive pressure but emphasized their strong service levels and successful client wins, which help mitigate pricing pressures [81][82]

deluxe. Third Quarter 2024 Earnings November 6, 2024 © 2024 Deluxe Corporation Brian Anderson Vice President, Strategy & Investor Relations 2 Today's Presenters | --- | --- | --- | --- | --- | |----------------------------------------|----------------------------------------------------|-------|-------|-----------------------------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Barry McCarthy | Chip Zint | | | Brian Anderson | | President and Chief E ...

Group 1 - Deluxe reported quarterly earnings of $0.84 per share, exceeding the Zacks Consensus Estimate of $0.72 per share, and showing an increase from $0.79 per share a year ago, representing an earnings surprise of 16.67% [1] - The company posted revenues of $528.4 million for the quarter ended September 2024, slightly missing the Zacks Consensus Estimate by 0.06%, and down from $537.8 million year-over-year [2] - Over the last four quarters, Deluxe has surpassed consensus EPS estimates four times but has topped consensus revenue estimates only once [2] Group 2 - The stock has underperformed the market, losing about 10.9% since the beginning of the year, while the S&P 500 has gained 21.2% [3] - The current consensus EPS estimate for the upcoming quarter is $0.77 on revenues of $528.3 million, and for the current fiscal year, it is $3.11 on revenues of $2.14 billion [7] - The Zacks Industry Rank indicates that the Business - Office Products sector is currently in the bottom 25% of over 250 Zacks industries, which may negatively impact stock performance [8]

Exhibit 99.1 Contact: Brian Anderson, VP, Strategy & Investor Relations Keith Negrin, VP, Communications 651-447-4197 612-669-1459 brian.anderson@deluxe.com keith.negrin@deluxe.com DELUXE REPORTS THIRD QUARTER 2024 RESULTS • Reported revenue decreased 1.7%, while comparable adjusted revenue decreased 0.7%. • Net income was $8.9 million, improving from a net loss of $8.0 million in 2023, on cost management, lower restructuring spend and gain on business exits. • Third quarter GAAP diluted EPS was $0.20 versu ...

Goldman Sachs analyst Eric Sheridan maintained a Buy rating on Spotify Technology SA SPOT and a price target of $430 (up from $425). Ahead of its third-quarter 2024 earnings report, Sheridan previewed current industry data, addressed key investor debates, and highlighted the potential revenue contribution from a deluxe tier for Spotify over the long term. Since its last earnings report, Spotify stock has outperformed (+13% versus the SPX +2% over the same period), which continues a pattern of the past 12 mo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ Commission file number: 1-7945 DELUXE CORPORATION (Exact name of registrant as specified in its charter) MN 41-0216800 (State or other j ...

deluxe. Second Quarter 2024 Earnings July 31, 2024 © 2024 Deluxe Corporation Brian Anderson Vice President, Strategy & Investor Relations 2 dl× Today's Presenters | --- | --- | --- | --- | --- | |----------------------------------------|----------------------------------------------------|-------|-------|-----------------------------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Barry McCarthy | Chip Zint | | | Brian Anderson | | President and Chief Executive Officer | Sen ...

Deluxe Corporation (NYSE:DLX) Q2 2024 Earnings Conference Call July 31, 2024 5:00 PM ET Company Participants Brian Anderson - VP, Strategy & IR Barry McCarthy - President & CEO Chip Zint - CFO Conference Call Participants Lance Vitanza - TD Cowen Kartik Mehta - Northcoast Research Charlie Strauzer - CJS Securities Marc Riddick - Sidoti Operator Ladies and gentlemen, thank you for standing by, and welcome to the Deluxe Quarterly Earnings Conference Call. All participants are currently in a listen-only mode a ...

Deluxe (DLX) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.65 per share. This compares to earnings of $0.93 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 32.31%. A quarter ago, it was expected that this payments and data company would post earnings of $0.70 per share when it actually produced earnings of $0.76, delivering a surprise of 8.57%. Over the last four quarters, the ...

Revenue Performance - Reported revenue for Q2 2024 decreased by 5.9% to $537.8 million compared to $571.7 million in Q2 2023[3] - Total revenue for the six months ended June 30, 2024, was $1,072.8 million, a decrease of 4.0% compared to $1,117.1 million for the same period in 2023[13] - Total revenue for the quarter ended June 30, 2024, was $537.8 million, a decrease of 2.9% compared to $571.7 million for the same quarter in 2023[21] - Comparable adjusted revenue for the quarter was $534.9 million, down from $551.6 million in the prior year, reflecting a year-over-year decline[21] Net Income and Earnings Per Share - Net income increased by 25.0% to $20.5 million, up from $16.4 million in the same quarter last year[3] - Net income for the six months ended June 30, 2024, increased to $31.3 million from $19.2 million in the same period of 2023, representing a growth of 63.5%[12] - GAAP diluted EPS expanded by 24.3% to $0.46, while comparable adjusted diluted EPS improved by 4.9% to $0.85[3] Cash Flow and Operating Performance - First half operating cash flows increased by 40% to $66.2 million, with free cash flow at $17.6 million[1] - Cash provided by operating activities for the six months ended June 30, 2024, was $66.2 million, an increase from $47.3 million in the same period of 2023[12] - Free cash flow for the six months ended June 30, 2024, was $17.6 million, a significant improvement from a negative $8.6 million in the same period of 2023[12] - Net cash provided by operating activities for the quarter was $39.6 million, a decrease of 28.2% compared to $54.1 million in the prior year[25] - Free cash flow for the quarter was $11.4 million, down from $23.7 million in the same quarter last year[25] EBITDA and Margins - Comparable adjusted EBITDA increased by 1.6% to $101.8 million, with a margin of 19.0%, up 80 basis points from the prior year[3] - Adjusted EBITDA for the six months ended June 30, 2024, was $203.8 million, slightly down from $208.8 million in the same period of 2023[17] - The adjusted EBITDA margin for the six months ended June 30, 2024, was 19.0%, compared to 18.7% for the same period in 2023, indicating improved operational efficiency[17] - Adjusted EBITDA for the quarter was $103.4 million, a decrease of 1.6% from $108.4 million in the same quarter last year[21] - Comparable adjusted EBITDA margin improved to 19.0% for the quarter, compared to 18.2% in the prior year[21] Debt and Financial Position - Current portion of long-term debt reduced to $43.1 million from $86.2 million at the end of 2023[11] - Net debt as of June 30, 2024, was $1,534.9 million, with shares outstanding at 44.2 million[11] - Total debt as of June 30, 2024, was $1,558.0 million, down from $1,592.9 million at the end of December 2023[23] - Net debt as of June 30, 2024, was $1,534.9 million, slightly up from $1,520.9 million at the end of December 2023[23] Guidance and Future Outlook - The company affirms 2024 guidance for revenue between $2.12 billion and $2.16 billion, adjusted EBITDA of $400 million to $420 million, and adjusted diluted EPS of $3.10 to $3.40[4] - The company has not provided reconciliations for its 2024 outlook guidance due to uncertainties surrounding certain reconciling items, including asset impairment charges and restructuring expenses[15] Dividends and Shareholder Returns - The Board of Directors approved a quarterly dividend of $0.30 per share, payable on September 3, 2024[5] Customer Funds and Withdrawals - The company reported a net change in customer funds obligations of $(328.4) million for the six months ended June 30, 2024, compared to $(149.3) million in the same period of 2023, indicating increased customer withdrawals[12] Business Performance Metrics - Merchant Services revenue for the six months ended June 30, 2024, increased to $195.0 million, up from $180.6 million in 2023, reflecting a growth of 8.5%[13] - B2B Payments revenue decreased to $139.7 million for the six months ended June 30, 2024, down 7.5% from $151.5 million in the same period of 2023[13] Performance Evaluation - The company emphasizes the importance of comparable adjusted measures to evaluate performance excluding the impact of business exits[20] - Management views free cash flow as a key indicator of cash available for debt service and shareholder returns after capital investments[24]