Barry, one of the things you mentioned as we get into the year, on the payment side. Price US$ 54.00 | Buy this Report Now. You know what? I think absolutely it will, but it does not impact our ability to drill profits over the longer term. In summary, we believe we delivered a solid first quarter, and our strategy is working. View DLX financial statements in full. The following slide deck was published by Deluxe Corporation in conjunction with their 2020 Q1 earnings call. This further highlights our basic financial strength. We are still very optimistic about the long-term opportunities at our company to deliver margin expansion. Chris Thomas, our Chief Revenue Officer, has also trained our sales team and all the Deluxe has to offer, and we're seeing the wins continue as a result. Our sales momentum continues even with COVID-19. In Promotional Solutions, we've identified new business opportunities, selling PPE to both new and existing customers and expect this business to bring in tens of millions of dollars of new revenue this year. In addition, goodwill for the Cloud Solutions segment was fully impaired by $4.3 million, along with certain intangible assets totaling $19.7 million. That's our Deluxe character and winning attitude shining through that's lighting our pathway to even greater future success. Now I'll turn it over to Keith, who will provide the details of our first quarter financial results, but I'll come back and share my thoughts on our strategy and how we're positioning ourselves for the recovery. So when you're looking at the information that we provided you, we've given you some insight as to what we're seeing. Total revenue in the first quarter was $486.4 million. Deluxe Corp Q2 2020 Earnings Call Jul 30, 2020, 4:45 p.m. We expect to resume sharing our specific outlook when we return to a more macroeconomic stability. And we expect to do that going forward. Your line is open. This afternoon, will provide you with details of our first quarter operating performance, including the impressive 18% growth on our payments business. We don't know how many businesses are closed. We won five new deals with banks to use our bankers dashboard profitability solution and my corporation launched a new e-notary solution. Keith A. Bush -- Senior Vice President and Chief Financial Officer. By geography, we saw the most prominent declines in the Northeast region of the country. Earnings per share grew to $0.93 from $0.89. GAAP diluted loss per share for the first quarter was $1.45, including asset impairment charges of $90.3 million and restructuring, integration and other costs of $19.7 million associated with the company's transformation. Portions of the financial and statistical information that will be discussed during this call are addressed in more detail in today's press release, which is posted on our Investor Relations website at deluxe.com. However, as March unfolded, our business was significantly impacted by COVID-19, and we ended with revenue declining 2.5%.First quarter results by segment included Payments revenue of $77 million, growing over 18% or $12 million above last year. And then the strength of our company attracting customers that are worried about some of their current providers. I'm ed Merritt, Vice President of Corporate Finance and Treasurer. On the same day, management will hold an open-access conference call at 11:00 a.m. These comments are subject to risks and uncertainties, and including the risks related to COVID-19, which could cause our actual results to differ materially from projections. /Filter /FlateDecode Materialise NV's report follows an earnings beat by NVIDIA on February 24, who reported EPS of €3.1 on revenue of €5B, compared to forecasts EPS of €2.81 on revenue of €4.82B. Time: 3:00pm GMT. Our Payments segment was a particular standout during the quarter delivering new wins and showing year-over-year revenue growth of 18%. Sure. I think later in the year, you maybe said you talked about growth maybe slowing a little bit. Many of our competitors do not have this advantage. As a result, weakness in this segment has a lower impact on our profitability and operating cash flow. And of critical importance, we believe we have adequate liquidity to get us through the COVID-19 crisis, despite what we know will be a very challenging year. We're all very proud of the standout performance for Payments. Good afternoon, everyone. Deluxe Corporation Q1 2013 Earnings Conference Call Transcript. I would now like to turn the conference over to your speaker for today, Mr. Ed Merritt. We experienced a similar COVID-19 impact in the Cloud Solutions segment, and Garry Capers to is doing great work, managing costs and positioning his business for a rebound. Those share gains come as the company reported strong earnings. >> And I'll end today with my perspective of what we believe all of this means for Deluxe going forward. I appreciate that, Barry. We've provided hand sanitizers and other protective gear, such as facemask and have implemented new social distancing procedures and incremental hourly pay increases as part of our Hero pay compensation. Deluxe Corp. balance sheet, income statement, cash flow, earnings & estimates, ratio and margins. Keith, I think you wanted to provide a little more clarity on a couple of the points that are on the slide deck and in your comments. Despite the painful impacts of COVID-19 and the challenging months ahead, we have the same aspirations for Deluxe today that we had just 60 days ago. Charlie, I don't know that I can I have a crystal ball. We get emails now daily about wins. Our team is living our purpose of championing businesses so communities thrive, guided by our values of putting customers first, earning trust, creating what's next, delivering for shareholders and getting it done. The company's adjusted EPS was positive, beating forecasts of an adjusted loss per share. We delivered a solid performance in the first quarter, while simultaneously driving our business transformation forward. Fortunately, Deluxe answered this disruption is very strong financially, with low net debt. Recall, we shifted to a sales driven growth model, which differs significantly from the past when virtually all growth came from acquisitions financed by increasing debt and leverage. We took immediate action to further strengthen and expand our liquidity, and we continue to adjust our expense structure in line with revenue. And when you look at some of the over the years, the ability to take cost out of the business, and it seems like it's continuing today. Thanks, Barry. But as you're looking, Chris, at the back end of March, when we indicated that there was about $16 million impact on the revenue. We expect check volume to track with macro academic conditions, recovering to a more standard secular decline rate sometime in the fourth quarter. Free cash flow, defined as cash provided by operating activities, less capital expenditures, was $12.2 million in the quarter. Excluding about $111 million of expense related to impairments, restructuring, integration and other non-GAAP adjustments. People were learning about the Deluxe Solutions that we've had for years, but they never knew even existed. /BBox [0 0 540 720] Great. We believe we are positioning the company to take advantage of the inevitable opportunities in the market that will be created as the economy begins to recover later in the year. And consistent with that, we're not providing second quarter or full year guidance. Now specifically, are there other places we can go? /Fabc10 8 0 R Collectively, these actions include: reducing salaried employees base by 20%, which included mine, together with the balance of the executive leadership team and the cash compensation payable to our Board of Directors. He is bringing together our sales organization to strengthen our understanding of One Deluxe and further prepare our team for our new go-to-market strategy. However, we continue to monitor legislation to see if there are other offerings that may help us through this downturn. Our sales driven strategy is clearly working. Deluxe reported a per-share profit of $1.94 when it published results during the same quarter last year. /Iabc6 16 0 R While the path to a full economic recovery will obviously take time, we believe Deluxe will exit this crisis a better, stronger and more resilient company with dynamic and growing Payments and Cloud business and a vibrant promo and checks business. During the first quarter, we repurchased $14 million of common stock. Bye. 2 Min Read. Our leadership team holds daily status calls to review operations that take measures to ensure employees are safe, and we continue to deliver the same high-quality of solutions and services to our customers. Not the need to go longer on something more specifically, we have specialists that can do that. Deluxe Corp (NYSE:DLX)Q1 2020 Earnings CallMay 7, 2020, 4:45 p.m. The Cloud business has many different elements and they all were performing differently. [Operator Instructions] Our first question comes from Charles Strauzer of CJS. To kind of continue just to continue on that vein. We've said this for a long time that we are pointing the company to be a mid- single-digit grower with margins in the low to mid-20s. Earnings Call Information A live conference call will be held today at 4:45 p.m. I know is what you're asking, and I don't have a crystal ball to be able to tell you that. Thank you. I hope you heard this in my comments. Third, our strategy is working. Late in the first quarter, we saw a significant decline in revenue. Published Apr 25, 2013. Deluxe Announces Q1 2018 Release Information Contacts Deluxe Corporation Edward A. Merritt, 651-787-1068 Treasurer and Vice President of Investor Relations We told you last April, we were investing in our infrastructure and as a result of those investments and new related technology, we were able to move to a work from home model in a matter of days for many of our employees remarkably including our contact centers. Promotional Solutions revenue was approximately $143 million and declined about $13 million from last year. I'd like to remind you that comments made today regarding management's intentions, projections, financial estimates or expectations about the future strategy or performance of the company are forward-looking in nature as defined in the Private Securities Litigation Reform Act of 1995. And I bet you heard it. Deluxe Corp Q1 2016 Earnings Call Transcript. Buy These Stocks! EPS $1.080 Beats $1.040 Estimate, Sales $486.400M Beat $476.700M Estimate Deluxe (NYSE:DLX) reported quarterly earnings of $1.080 per share which beat the analyst consensus estimate of $1.040 by 3.85 percent. We've developed a new cloud scheduling technology for the banking industry to help banks better support their customers. Shareholder Tools. The this is the first quarter that we operated and reported results in our four new segments, which is an exciting milestone in our transformation journey. -Earnings (Q1): $2.97 Bln. PDF Version. Consistent with our Investor Day message, our business experienced sales driven revenue growth in the first two months of the year for the first time in nearly a decade. endstream Good, thanks. In late March, as soon as we saw the initial declines in our business, we took action to enhance our financial flexibility, and we increased our borrowings on our revolving credit facility to $1.14 billion. Great, Barry. Published Apr 28, 2016. It's important to note that our net debt has remained unchanged. Our conclusion is that our results seem consistent with what others are seeing, and no one agrees on the shape or timing of a recovery. Which just gives us an enormous amount of confidence about our strategy being right, they're on the right path. endobj We took immediate action to address revenue and related expenses. Returns as of 03/14/2021. Any references to non-GAAP financial measures are reconciled to the comparable GAAP financial measures in the press release or as part of our presentation during this call. And I think that, that will be very good for our data business as we come out of this. Cloud Solutions revenue was nearly $76 million and declined about $2 million from last year. First, we're financially strong. This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. That was about that translates to about 120 basis points impact to EBITDA margin on the quarter. Deluxe Q1 Adj. More on that later. So we don't think that, that is going to prevent us from getting to our intermediate term target there being in the 20s. We committed, and we are delivering sales driven revenue growth for the first time in nearly a decade in January and February pre COVID-19. And since many businesses closed significantly downsized their operations or simply went into hibernation. But Chris Thomas as our new CRO, and we think it's the first time this company has had a CRO in at least 10 years, that's as far back as we can see, is pulling together the entirety of the sales organization so that they can have that view. [Operator Instructions] Cumulative Growth of a $10,000 Investment in Stock Advisor, Deluxe Corp (DLX) Q1 2020 Earnings Call Transcript @themotleyfool #stocks $DLX, Deluxe Corp (DLX) Q4 2018 Earnings Conference Call Transcript, Deluxe Corp (DLX) Q3 2018 Earnings Conference Call Transcript, Here's Why Deluxe's Latest Report Might Worry You, Copyright, Trademark and Patent Information. The facility includes an accordion feature, allowing us, subject to lender consent, which we would expect to receive to expand by up to $285 million beyond the $1.14 billion level we currently have drawn. In January and February, our new strategy delivered sales driven revenue growth for the first time in nearly a decade. And I think in our team to go win more business is incredible. In addition to small businesses, we also provide discretionary products to large companies, and they cancel planned conferences, they canceled orders for those support products that we create for those conferences. And b, our financial stability is very attractive to large billers and financial institutions that are looking for a partner for the long term. Through a joint venture with Echo Health, we solved a large-scale payment challenge, how to effectively and efficiently manage medical payments and disbursements. So we had all of the sales leadership and all of the salespeople together in one place hearing the entirety of our story. So we certainly exercise that at the end of Q3 and going in sorry, at the end of Q1 going into Q2, and of course, we'll do that through Q3 and Q4. Thanks for joining us. ØsNeŠÃ¦\Mé‚OH‚ŠÎIq†íõRËä[(!£¦£Ş?,ã*Œ&ª¤àÆfÒz‚yÛSıŠ¥ä- That's one of the things the company has been great at for a long time. Earnings Release Q1 FY 2021 | Digital Industries, Smart Infrastructure, Mobility 3 Digital Industries Q1 % Change (in millions of €) FY 2021 FY 2020 Actual Comp. BRIEF-RDM Corp shareholders approve plan of arrangement with Deluxe Corp (RC, DLX) Reuters 1,406d. But we believe as the economy reopens, obviously, small businesses reopened, etc. Now is that going to impact Q2? We immediately further strengthened our liquidity and began an intense focus on expenses to get them aligned to lower volumes. Here again, we're showing how our strategy and investments are yielding a return. So we have good news on two sides there. >> Q1 2020 Earnings Release 252.7 KB. First of all, we have new products that I described. And as a result, we remain confident in our strategy, which we communicated previously. ET (10:00 a.m. CT ). I'll discuss the impairment impacting Q1 earnings in a moment. We told you earlier, we were suspending share repurchases in the second quarter. Thank you all. And we are pleased with where the Cloud businesses were collectively going into COVID. We've taken the necessary steps to secure our future. -EPS (Q1): $6.61 vs. $5.25 last year. Avoid These Stonks! In payments, we announced a joint venture with echo Health called MPX or the Medical Payments Exchange. To access the live webcast, log on at www. Just how long that time is. ‚~j@ùnL?‹yn^"²OH™�Æl�¾vä…¥Ïâ\Bçí(7}ÿ“�şy|ônä8O¼ÔYYe(ôY+²:älm8{ÏXQĞ”¯ŠÒş2’ÔuVÕ™>‰‚aH�"/îIø. Q1 2020 Transcript 175 KB. 10, 2019-- Deluxe Corporation (NYSE: DLX) will report 2019 first quarter financial results on Thursday, April 25, 2019 prior to market open. Q1 2020 Deluxe Corporation Earnings Conference Call. I wish I did, but we believe that based on all the data we have and what we see in these very early days in February. Now the other side of this is we're also in a good position that we're getting inbound calls from some of our competitors' customers that are concerned about the financial stabilities. We're transforming the company from a legacy check printer into a trusted business technology company. Thank you, and welcome to the Lex Corporation's first quarter the 2020 earnings call. That would be helpful. First, let's overview our business performance. And this time is no different. As Barry noted, in light of the current circumstances, we're very proud of how our teams have pulled together and rallied to help one another through the last few weeks. And we just have the wins to prove it. We also announced the recently formed medical payment exchange, we call MPX. I don't know if that was the correct term, but what would temper the expectations since they're so strong right now in the economy to slow those trends? 12.04.2018 - Deluxe Corporation (NYSE: DLX) will report 2018 first quarter financial results on Thursday, April 26, 2018 prior to market open. Deluxe Corporation 2019 Q1 - Results - Earnings Call Slides Apr. So why don't I take this back, and that's probably a great place for me to start the conclusion. And then I guess just cover has been here for a little bit. Thank you. And yes, we're dealing with COVID. So what makes the Deluxe special as the character of my fellow deluxers finding a way to meet the customers' needs in good times and bad. 14, 2016-- Deluxe Corporation (NYSE: DLX) will report 2016 first quarter financial results on Thursday, April 28, 2016 prior to market open. Our financial priority is to maintain strong liquidity and flexibility through the COVID-19 crisis, and we have made the decision to pause some of our capital projects in the near term.
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