Group 1 - The ideal investment is characterized by core business operations in sectors expected to grow structurally at rates exceeding GDP growth over the next 5-10 years [1] - Profits should stem from sustainable competitive advantages that lead to attractive unit economics [1] - The investment should be managed by competent, ethical, and long-term thinkers, and should be fairly valued [1]

Revenue and Operations - The company generated approximately 31% of its total revenue from international operations for the years ended December 31, 2024, 2023, and 2022[368]. - The company generated $2,381.7 million in revenue for the year ended December 31, 2024, an increase of 2.9% from $2,314.0 million in 2023[391]. - Dun & Bradstreet's revenue is primarily generated from licensing data and providing related services, with a focus on Finance & Risk and Sales & Marketing solutions[411]. - The company operates through two segments: North America and International, providing analytics and business insights across various regions[413]. - Revenue recognition follows a five-step process, ensuring that revenue reflects the consideration expected in exchange for goods or services[417]. - The company recognizes revenue ratably for performance obligations satisfied over time, particularly for continuous access to data products[425]. - Revenue from licensing data to alliance partners is recognized upon delivery, with contract consideration often based on sales or usage-based royalties[432]. - Contracts often include multiple performance obligations, with transaction prices allocated based on relative standalone selling prices[433]. - Variable consideration is allocated to performance obligations if terms relate specifically to efforts in satisfying those obligations[434]. - Total future revenue allocated to unsatisfied performance obligations as of December 31, 2024, is $3,238.4 million, with $1,367.2 million expected in 2025[501]. - Total revenue recognized for the year ended December 31, 2024, was $2,381.7 million, representing an increase of 2.9% from $2,314.0 million in 2023[503]. - Revenue recognized at a point in time decreased to $957.6 million in 2024 from $972.4 million in 2023, while revenue recognized over time increased to $1,424.1 million from $1,341.6 million[503]. Financial Performance - Operating income for 2024 was $194.8 million, up from $140.3 million in 2023, reflecting a growth of 38.7%[391]. - The net loss attributable to Dun & Bradstreet Holdings, Inc. was $28.6 million for 2024, an improvement from a net loss of $47.0 million in 2023[391]. - Net income for 2024 was a loss of $24.5 million, an improvement from a loss of $43.7 million in 2023, but down from a profit of $4.1 million in 2022[398]. - The company incurred restructuring charges of $16.9 million in 2024, compared to $13.2 million in 2023, indicating an increase of 27.9%[391]. - The company reported total assets of $8,755.7 million as of December 31, 2024, down from $9,135.9 million in 2023, indicating a decrease of 4.2%[396]. - Total liabilities decreased to $5,441.3 million in 2024 from $5,704.3 million in 2023, a reduction of 4.6%[396]. - Cash and cash equivalents increased to $205.9 million in 2024 from $188.1 million in 2023, representing a growth of 9.3%[396]. - The company’s accumulated deficit increased to $(839.7) million in 2024 from $(811.1) million in 2023[396]. - The company’s total stockholders' equity decreased to $3,298.5 million in 2024 from $3,419.1 million in 2023, a decline of 3.5%[396]. - The company reported a net loss of $47.0 million for the year ended December 31, 2023, compared to a net loss of $2.3 million in 2022[401]. - Total stockholders' equity decreased to $3,431.6 million as of December 31, 2023, down from $3,508.4 million at the end of 2022, reflecting a decline of approximately 2.2%[401]. - The company declared dividends totaling $87.5 million in 2023, an increase from $43.6 million in 2022[401]. - Payments of dividends increased to $87.5 million in 2024 from $86.1 million in 2023[398]. - The company reported deferred cloud computing arrangement implementation costs of $40.1 million and $36.9 million as of December 31, 2024 and 2023, respectively[461]. Debt and Interest - Total interest payments for the year ended December 31, 2024, were $214.5 million, with a weighted average interest rate of 5.920%[367]. - A 100 basis point increase or decrease in the weighted average interest rate on outstanding debt would result in an incremental increase or decrease in annual interest expense of approximately $31 million for the year ended December 31, 2024[367]. - Interest payments for 2024 were $214.5 million, slightly up from $213.3 million in 2023[398]. Foreign Exchange and Risk Management - The notional amounts of foreign exchange contracts were $583.5 million and $653.1 million as of December 31, 2024, and December 31, 2023, respectively[370]. - Realized gains and losses associated with foreign exchange contracts for the year ended December 31, 2024, were $32.7 million and $33.5 million, respectively[370]. - If exchange rates were to increase or decrease by 10% from year-end 2024 levels, unrealized losses or gains on foreign exchange forward contracts would be approximately $51 million[371]. - The company uses interest rate swaps to manage the impact of interest rate changes on earnings, aiming to mitigate future cash flow variations[366]. - The company’s foreign exchange forward contracts are primarily denominated in British pound sterling, Euro, Swedish Krona, and Norwegian Krone[369]. Pension and Employee Benefits - The benefit obligation at the beginning of 2024 was $1,417.5 million, decreasing to $1,309.3 million by the end of the year, reflecting a change of $108.2 million[536]. - The fair value of plan assets at the beginning of 2024 was $1,282.7 million, which decreased to $1,204.2 million by year-end, resulting in a net funded status of $(105.1) million[536]. - The accumulated benefit obligation decreased from $1,410.9 million in 2023 to $1,303.8 million in 2024[542]. - The company reported an actuarial gain of $63.8 million for the year ended December 31, 2024, primarily due to changes in discount rates and mortality assumptions[540]. - The net periodic pension cost for 2024 was $(17.5) million, compared to $(16.3) million in 2023[546]. - The underfunded accumulated benefit obligation decreased from $133.8 million in 2023 to $105.1 million in 2024[543]. - The company’s pension plans had a service cost of $1.7 million for the year ended December 31, 2024[546]. - The company recorded a settlement gain of $0.4 million for the year ended December 31, 2024[546]. - The total amount recognized in accumulated other comprehensive loss was $79.9 million for the year ended December 31, 2024[542]. - The projected benefit obligation discount rate increased to 5.23% for 2024 from 4.57% in 2023[551]. - The expected long-term return on plan assets is projected at 5.70% for 2024, up from 5.60% in 2023[551]. - The rate of compensation increase for determining projected benefit obligation is 2.88% for 2024, slightly up from 2.87% in 2023[551]. - The actuarial loss for 2024 is projected at $(4.8) million, compared to a gain of $1.1 million in 2023[547]. - The amortization of actuarial loss for 2024 is $(2.2) million, compared to $(0.7) million in 2023[547]. - The company applies a yield curve approach to measure the present value of pension plan obligations[553]. - The investment objective for the U.S. Qualified Plan is to achieve a long-term total return that matches the expected long-term rate of return assumption[556]. - The mortality assumption used is based on the PRI 2012 mortality table with adjustments for COVID-19 factors[554]. - The weighted average expected long-term return on plan assets was 5.60% for 2023, reflecting long-term capital market return forecasts[552]. - The company emphasizes long-term growth of principal while avoiding excessive risk to finance pension obligations[556]. Stockholder Equity and Compensation - The company’s weighted average number of shares outstanding-basic was 432.4 million in 2024, slightly up from 430.5 million in 2023[391]. - Stock-based compensation expense for 2024 was $67.6 million, a decrease from $83.4 million in 2023[516]. - The fair value of shares vested for restricted stock and restricted stock units in 2024 was $42.1 million, up from $30.9 million in 2023[527]. - Total unrecognized compensation cost related to non-vested restricted stock and restricted stock units was $42.2 million as of December 31, 2024[526]. - The increase in long-term contract assets from $18.0 million in 2023 to $32.8 million in 2024 was primarily due to new contract assets recognized[504]. - The weighted average grant date fair value per share of restricted stock and restricted stock units granted for 2023 was $11.27[526].

Fourth Quarter & Full Year 2024 Financial Results February 20, 2025 Restricted Confidential Disclaimer This presentation contains statements that are not purely historical but are forward-looking statements, including statements regarding expectations, hopes, intentions or strategies regarding the future. Forward-looking statements are based on Dun & Bradstreet's management's beliefs, as well as assumptions made by, and information currently available to, them. Forward-looking statements can be identified b ...

Financial Data and Key Metrics Changes - For Q4 2024, revenues were $632 million, showing less than 1% growth compared to the prior year quarter, both after and before the effect of foreign exchange [35] - Full year 2024 revenues reached $2,382 million, an increase of 3%, both after and before the effect of foreign exchange [36] - Net income for Q4 was $8 million, compared to $2 million in the prior year quarter, driven by lower net personnel costs [35] - Full year net loss was $29 million, an improvement from a net loss of $47 million in the prior year [36] - Adjusted EBITDA for Q4 was $260 million, a decrease of less than 1% compared to the prior year quarter [38] - Full year adjusted EBITDA was $927 million, an increase of 4% [40] Business Line Data and Key Metrics Changes - In North America, Q4 revenues were $449 million, a decrease of 1.8% from the prior year quarter [42] - Finance and Risk revenues in North America for Q4 were $229 million, a decrease of 5% [42] - Sales and Marketing revenues in North America for Q4 were $219 million, an increase of 2% [42] - International segment Q4 revenues were $183 million, an increase of 6% [48] - Full year International revenues increased 6% to $709 million [52] Market Data and Key Metrics Changes - North America Finance and Risk full year revenues were $891 million, an increase of less than 1% [45] - International Finance and Risk full year revenues of $484 million increased 8% [52] - Organic revenues on a constant currency basis for International were 6% for the full year [52] Company Strategy and Development Direction - The company is focused on a vertical approach to deepen client relationships and launch vertical-specific solutions in 2025 [22] - Significant progress was made in technology transformation, including the migration of clients to modern solutions [15][21] - The company aims to enhance its go-to-market strategy by leveraging its modernized technology and platforms [31] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for future growth, citing the completion of significant transformations and a strong foundation for sustainable growth [21][33] - The ongoing strategic review process is expected to conclude in the first quarter of 2025, which may impact client behavior and revenue timing [70][120] - Management noted strong demand for risk analytics and compliance solutions, despite some revenue shifts due to client migrations [76][80] Other Important Information - The company reduced net leverage to 3.6% at year-end 2024 and aims to reach around 3.25% by the end of 2025 [57][65] - The company did not execute any share repurchases in Q4 2024, with a total of 961,360 shares repurchased year-to-date [59] Q&A Session Summary Question: Impact of distractions on revenue and guidance - Management acknowledged that distractions from the ongoing strategic review affected deal closures, but expects most delayed revenues to materialize in early 2025 [70][72] Question: Demand for products amid geopolitical shifts - Management confirmed strong demand for solutions addressing supply chain issues and tariffs, attributing Q4 revenue declines to factors other than demand [75][76] Question: Timing of revenue growth and assumptions - Management indicated that Q1 growth is expected to be at the low end of guidance due to ongoing processes, while Q4 should be closer to the high end [86][88] Question: Exit of non-strategic partnerships - Management confirmed that the exits are largely complete, with a revenue impact of $6 million in Q4 and $14 million in 2025, but with a positive EBITDA outcome [92] Question: Strategic review process and options - Management stated that various options are being considered in the strategic review process, including potential divestitures [112][116] Question: Sales pipeline and demand environment - Management reported a consistent pipeline but noted some client hesitation due to the ongoing strategic review [118][120] Question: Revenue structure and delivery models - Management indicated that approximately 75% of revenue comes from ratable contracts, with a goal to shift more towards this model [128][130] Question: North America adjusted EBITDA margins - Management expects margin expansion in North America as the company scales up following the completion of migrations [135]

Dun & Bradstreet (DNB) came out with quarterly earnings of $0.30 per share, missing the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.32 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -6.25%. A quarter ago, it was expected that this company would post earnings of $0.27 per share when it actually produced earnings of $0.27, delivering no surprise.Over the last four quarters, the company has not b ...

DUN & BRADSTREET REPORTS FOURTH QUARTER AND FULL YEAR 2024 FINANCIAL RESULTS JACKSONVILLE, Fla. - February 20, 2025: Dun & Bradstreet Holdings, Inc. (NYSE: DNB), a leading global provider of business decisioning data and analytics, today announced unaudited financial results for the fourth quarter and year ended December 31, 2024. A reconciliation of U.S. generally accepted accounting principles ("GAAP") to non-GAAP financial measures has been provided in this press release, including the accompanying table ...

News that Veritas Capital Management is considering an offer for Dun & Bradstreet Holdings, Inc. (NYSE: DNB ) sent the normally steady stock spiraling -7.4% on Friday, February 7, 2025. While takeover rumours are almost always positive for a target company's shares, in this particular case25 years+ in the financial/investment industry. Former Senior Managing Editor here at Seeking Alpha; the tail end of an ~11 year stint working for SA. Prior to this, I worked as a Treasury Manager for a large commodities f ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are ...

San Diego, CA, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Truepic, the enterprise solution for digital content authenticity, is proud to announce its strategic relationship with Dun & Bradstreet (NYSE: DNB), a leading global provider of business decisioning data and analytics, to apply its state of the art image authentication for real-time business verification and authentication. Truepic’s flagship platform, Vision, is now associated with applications of the Dun & Bradstreet D-U-N-S® Number, a unique nine-digit id ...

Dun & Bradstreet Holdings, Inc. (NYSE:DNB) Q3 2024 Earnings Conference Call October 31, 2024 8:30 AM ET Company Participants Sean Anthony - Vice President, FP&A and IR Anthony Jabbour - Chief Executive Officer Bryan Hipsher - Chief Financial Officer Conference Call Participants Kyle Peterson - Needham Faiza Alwy - Deutsche Bank Alex Hess - JPMorgan Craig Huber - Huber Research Partners Bill Qi - RBC Capital Markets George Tong - Goldman Sachs Operator Good day, and welcome to the Dun & Bradstreet Third Quar ...