Deluxe Corp. (DLX) Tops Q2 EPS by 55c

Deluxe Corp. (NYSE: DLX) reported Q2 EPS of $1.15, $0.55 better than the analyst estimate of $0.60. Revenue for the quarter came in at $410.4 million versus the consensus estimate of $392.15 million.

“Deluxe delivered stronger than expected second quarter performance. Our cash flow from operations exceeded last year’s quarterly performance, enabling us to pay down $100 million on the revolving credit facility in July, and declare our regular dividend. Our reported revenue partially recovered from the April low, declining $84 million for the second quarter as compared to last year. We believe the company continued its historic sales-driven revenue growth from the first quarter, excluding our estimate of COVID-19 impact. GAAP margins stabilized and Adjusted EBITDA margins rebounded to our pre-COVID-19 range,” said Barry McCarthy, President & CEO of Deluxe. “Our sales-driven ‘One Deluxe’ transformation is working too. We signed 4 of our top 25 prospects and further built our already strong sales pipeline. Our robust financial health has proven to be a significant competitive advantage in these wins,” added McCarthy.

McCarthy continued, “We are grateful to our fellow Deluxers who have unfailingly provided selfless service to our customers as COVID-19 unfolded. We have proven we are agile and innovative at all levels, further evidence our ‘One Deluxe’ strategy is working. We are a trusted business technology company with the ability to generate strong revenue with healthy margins and are confident we will deliver strong shareholder value over the long-term.”

For earnings history and earnings-related data on Deluxe Corp. (DLX) click here.

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