Deluxe Corp's 2024 Net Income Surges

By Bobby Samwell • Thursday, February 06 06:07 • Permanent Link

Deluxe Corporation has reported its fourth quarter and full-year 2024 results, indicating various changes in key financial metrics compared to the previous year.

For the full year 2024: Reported revenue decreased by 3.2%, while comparable adjusted revenue decreased by 1.2%. Net income improved significantly to $52.9 million from $26.2 million in 2023. Comparable adjusted EBITDA increased by 3.9% to $406.5 million. GAAP diluted EPS was $1.18 versus $0.59 in 2023, and comparable adjusted diluted EPS improved by 7.9% to $3.26. Cash from operating activities was $194.3 million, and free cash flow increased by 2.4% to $100.0 million. Total debt reduced by $89.8 million, while net debt reduced by $52.2 million.

For the fourth quarter of 2024: Revenue decreased by 3.1% from the previous year, and comparable adjusted revenue decreased by 2.1%. Net income decreased to $12.6 million from $15.0 million in the fourth quarter of 2023. * Comparable adjusted EBITDA margin increased by 60 basis points to 19.9%, and comparable adjusted diluted EPS was up by 9.1% year over year to $0.84.

Looking ahead to full-year 2025, the company expects: Revenue in the range of $2.090 to $2.155 billion Adjusted EBITDA of $415 to $435 million Adjusted diluted EPS of $3.25 to $3.55 Free cash flow of $120 to $140 million

Additionally, the board of directors approved a regular quarterly dividend of $0.30 per share, payable on March 3, 2025.

Deluxe Corporation's management will host a conference call to review the financial results and provide further insights.

The market has reacted to these announcements by moving the company's shares -1.2% to a price of $22.58. For more information, read the company's full 8-K submission here.

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