Dun & Bradstreet(DNB) - 2024 Q2 - Quarterly Results

Revenue Performance - Revenue for Q2 2024 was $576.2 million, an increase of 3.9% year-over-year, and 4.2% on a constant currency basis[1] - Organic revenue growth for Q2 2024 was 4.3% on a constant currency basis compared to Q2 2023[1] - North America revenue for Q2 2024 was $404.6 million, an increase of 3.3% compared to Q2 2023[4] - International revenue for Q2 2024 was $171.6 million, an increase of 5.2% year-over-year, with organic revenue growth of 6.4% after excluding divestitures[7] - Revenue for Q2 2024 was $576.2 million, an increase of 3% compared to $554.7 million in Q2 2023[29] - Revenue for North America in the three months ended June 30, 2024, was $404.6 million, while international revenue was $171.6 million, contributing to a total revenue of $576.2 million[35] Income and Earnings - Adjusted net income for Q2 2024 was $99.1 million, or adjusted diluted EPS of $0.23, compared to $95.1 million, or $0.22 per share in the prior year[2] - Adjusted net income attributable to Dun & Bradstreet Holdings, Inc. for Q2 2024 was a loss of $16.4 million, compared to a loss of $19.4 million in Q2 2023[29] - Operating income for Q2 2024 was $37.1 million, significantly up from $16.5 million in Q2 2023[29] - Basic and diluted earnings per share for Q2 2024 were both $(0.04), consistent with $(0.04) in Q2 2023[29] - The company reported a net loss of $15.7 million for Q2 2024, compared to a net loss of $18.8 million in Q2 2023[29] - For the six months ended June 30, 2024, adjusted EBITDA was $419.2 million, up from $396.2 million in the same period of 2023, with an adjusted EBITDA margin of 36.8%[35] - The net income attributable to Dun & Bradstreet for the six months ended June 30, 2024, was a loss of $39.6 million, compared to a loss of $53.1 million in the prior year[39] EBITDA and Margins - Adjusted EBITDA for Q2 2024 was $217.9 million, a 5.7% increase year-over-year, with an adjusted EBITDA margin of 37.8%[2] - Adjusted EBITDA for the three months ended June 30, 2024, was $217.9 million, representing an increase from $206.2 million in the prior year, with an adjusted EBITDA margin of 37.8%[33] Debt and Cash Position - Total principal amount of debt as of June 30, 2024, was $3,675.8 million, with cash and cash equivalents of $263.2 million[10] - Long-term debt increased to $3,620.4 million as of June 30, 2024, from $3,512.5 million, marking an increase of 3.08%[30] - Cash and cash equivalents at the end of the period increased to $263.7 million from $260.6 million, a rise of 1.19%[32] Assets and Liabilities - Total current assets increased to $663.9 million as of June 30, 2024, compared to $656.3 million at December 31, 2023, reflecting a growth of 0.24%[30] - Total liabilities decreased to $5,615.2 million from $5,704.3 million, a reduction of approximately 1.56%[30] - The company’s total assets decreased to $8,956.8 million from $9,135.9 million, a decline of approximately 1.96%[30] - Total stockholders' equity decreased to $3,327.3 million from $3,419.1 million, a decline of approximately 2.69%[30] Cash Flow and Expenditures - Net cash provided by operating activities for the six months ended June 30, 2024, was $195.6 million, compared to $214.6 million for the same period in 2023, indicating a decline of 8.5%[32] - Capital expenditures for the period were $(2.1) million, slightly lower than $(2.6) million in the previous year[32] - Payments of dividends amounted to $43.9 million, compared to $43.0 million in the prior year, reflecting a slight increase of 2.09%[32] Strategic Initiatives - The company is investing in cloud-based infrastructure to transform its technology and back-office systems, incurring incremental costs that are not expected to recur[23] - The company is focused on strategic plans for business transformation and maintaining client relationships amid market uncertainties[26] Forward-Looking Statements - Forward-looking statements indicate expectations for future business and financial performance, with risks including competition and global economic conditions[25][26]