Deluxe Q1 Profit Tops Estimates

(RTTNews) - Deluxe (DLX) reported first-quarter adjusted profit per share of $1.05 compared to $1.26, prior year. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $1.00 for the quarter. Analysts' estimates typically exclude special items.

Net profit was $9.7 million or $0.22 per share compared to $24.3 million or $0.57 per share. Revenue increased to $556.0 million from $441.3 million, a year ago. Analysts on average had estimated $527.07 million in revenue. Excluding the First American acquisition, revenue increased 7.1% year-over-year.

For full year 2022, the company continues to expect: revenue growth of 8% to 10%, and adjusted EBITDA margin of approximately 20%.

The Board of Directors recently approved a regular quarterly dividend of $0.30 per share. The dividend will be payable on June 6, 2022 to shareholders of record as of market closing on May 23, 2022.