Cimpress N.V. (CMPR) Tops Q3 EPS by 37c; offers outlook

Cimpress N.V. (NASDAQ: CMPR) reported Q3 EPS of $0.55, $0.37 better than the analyst estimate of $0.18. Revenue for the quarter came in at $886.21 million versus the consensus estimate of $858.79 million.

Outlook
With strong year-to-date results and one quarter remaining in the fiscal year, we are again raising the revenue and profit components of our FY2026 annual outlook, which is now as follows:
• Revenue growth of 9% - 10% assuming recent currency rates and incorporating the April acquisitions; organic constant-currency revenue growtha of 4% - 5%.
• Net income of at least $87 million and adjusted EBITDAa of at least $465 million.
• Operating cash flow of approximately $298 million - 303 million, and adjusted free cash flowa of approximately $130 million - 135 million. While our adjusted EBITDAa guidance has increased, unfavorable working capital and cash tax timing, and restructuring payments from the aforementioned cost-reduction actions in March have more than offset this.
We expect to experience cost increases associated with recent increases in energy and oil prices, which is factored into our guidance.
We remain confident in our ability to deliver our FY2028 targets of at least $200 million in net income and $600 million in adjusted EBITDA, with approximately 45% conversion to adjusted free cash flow. Beyond organic growth, we plan to generate $70 million to $80 million in annualized efficiency benefits exiting FY2027.
Achieving our FY2028 outlook will generate strong per-share free cash flow growth and significantly reduce our net leverage ratio. We expect our net leveragea at the end of FY2026 to be 3.0x or below, an improvement from our prior guidance. We continue to expect that we will reduce net leverage to approximately 2.5x trailing-twelve-month EBITDA as calculated under our credit agreement exiting FY2027 on the way to meaningfully below 2.0x net
leverage ending FY2028, subject to capital allocation choices.

For earnings history and earnings-related data on Cimpress N.V. (CMPR) click here.

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