| Over a week ago | ||||
Financial Technology… Financial Technology Analyst Nobhan holds a meeting with CEO McCarthy and CFO Cotter in New York on March 14 hosted by Stephens. | ||||
Financial Technology… Financial Technology Analyst Nobhan holds a meeting with CEO McCarthy and CFO Cotter in New York on March 14 hosted by Stephens. | ||||
| Over a month ago | ||||
Cowen analyst Lance… Cowen analyst Lance Vitanza lowered the firm's price target on Deluxe to $29 from $32 and keeps an Outperform rating on the shares. The analyst noted Deluxe closed out its second consecutive year of LFL revenue growth, an achievement not seen in over a decade, with accelerating LFL growth in 4Q22. | ||||
Sees 2023 revenue… Sees 2023 revenue $2.145B-$2.21B vs. $2.24B in 2022. EBITDA is expected to range from -2 to +2% growth on an adjusted comparable basis. | ||||
Reports Q4 revenue… Reports Q4 revenue $564.0M vs. $570.6 a year ago. "Deluxe has now delivered its second consecutive year of sales-driven growth, an achievement not seen in over a decade. This proves our ability to shift into a Payments and Data company, with Payments becoming our largest revenue business in the first half of 2023," said CEO Barry McCarthy. "Full year revenue was driven by increases in all four segments, particularly our growth areas within Payments and Data, which includes Merchant Services, Digital Payments, and Data Driven Marketing". "Our Q4 results demonstrate solid top line growth as we continue to execute on our strategy," said CFO Chip Zint. "Looking ahead into 2023, we expect to see continued revenue growth, operating efficiencies, and improvements in free cash flow." | ||||
Deluxe "announced… Deluxe "announced that it has sold the remainder of its web hosting and logo design businesses to HostPapa. The transaction is expected to close in the first quarter. This transaction follows last year's sale of Deluxe's Australian Hostopia business to Newfold Digital and represents a complete exit from the web hosting and logo design market. Deluxe web hosting and logo design employees will transition to become employees of HostPapa as of the closing. Terms of the sale were not disclosed." | ||||
| Over a quarter ago | ||||
Deluxe (DLX) announced… Deluxe (DLX) announced the appointment of Chip Zint as senior VP and CFO, effective October 17. Zint will succeed Scott Bomar, who is stepping down to assume a senior role at a former employer. Zint joined Deluxe in 2020 and has been serving as VP, corporate finance. In this role, Zint has been responsible for the company's analytical, financial plans and policies, meeting regularly with the board. Zint was instrumental in the company's successful First American acquisition and has helped with sales driven revenue growth through the company's One Deluxe model. Prior to joining Deluxe, Zint held senior finance roles with increasing responsibilities for nearly 14 years at NCR Corporation (NCR), most recently serving as vice president of Finance and CFO for the Hardware Division. | ||||
Cowen analyst Lance… Cowen analyst Lance Vitanza lowered the firm's price target on Deluxe to $36 from $42 and keeps an Outperform rating on the shares. The analyst said ongoing demand remains strong with solid organic volume growth despite successful pricing actions. The transformation toward Payments and Data and the One Deluxe model are paying off and management is working hard to arrest margin pressure. | ||||
Deluxe recently announced… Deluxe recently announced the promotion of two leaders to the executive level. Jean Herrick, previously Vice President of Human Resources, has been promoted to Senior Vice President and Chief Human Resources Officer. Cameron Potts, previously Vice President of Corporate Communications, has been promoted to Senior Vice President and Chief Communications Officer. | ||||
Deluxe announced that… Deluxe announced that First American by Deluxe, its merchant services business, has signed an agreement with Dupaco Community Credit Union, expanding a long-term relationship utilizing the One Deluxe model. Under the agreement, more than 120 of Dupaco's current business members will transition to the merchant services provided by Deluxe. These services will also be available to new Dupaco business members. Dupaco already partners with Deluxe on other payment products, including Checks, Remote Deposit Capture and Branch Deposit Capture. "We are excited about this new partnership with Dupaco Community Credit Union, a not-for-profit, member-owned financial cooperative with an outstanding reputation," said Michael Reed, President of Payments for Deluxe. | ||||
