Deluxe Slips To Q3 Loss, Adj. EPS Tops View; Lifts FY23 Earnings Forecast

(RTTNews) - Deluxe (DLX), a payments and business technology company, reported Thursday that its third-quarter net loss was $8.0 million or $0.18 per share, compared to prior year's profit of $14.7 million or $0.34 per share.

Adjusted earnings per share were $0.79, compared to last year's $0.99.

Analysts on average had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenue for the quarter declined 3.1 percent to $537.8 million from last year's $555.0 million.

Looking ahead, the company once again raised its fiscal 2023 earnings guidance citing the year-to-date results and its outlook for the year, including expected fourth-quarter benefits from the North Star initiative.

For the year, adjusted earnings per share is now expected to be of $3.20 to $3.45, up from previously expected $3.10 to $3.40. The Street is looking for full-year earnings of $3.28 per share.

Adjusted EBITDA is now expected to be $405 million to $420 million, higher than the $400 million to $415 million expected earlier.

Further, the company continues to expect revenue of $2.180 billion to $2.220 billion.

The Board of Directors recently approved a regular quarterly dividend of $0.30 per share. The dividend will be payable on December 4 to shareholders of record as of market closing on November 20.

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