Welcome to our dedicated page for Deluxe Corporation news (Ticker: DLX), a resource for investors and traders seeking the latest updates and insights on Deluxe Corporation stock.
Deluxe Corporation (Symbol: DLX) is a leading provider of payment solutions, data-driven marketing, and promotional products. The company operates through four key segments: Payments, Data Solutions, Promotional Solutions, and Checks.
In the Payments segment, Deluxe offers merchant in-store, online, and mobile payment solutions. This segment also includes treasury management services like remittance and lockbox processing, remote deposit capture, receivables management, and paperless treasury management. Payroll and disbursement services, including the Deluxe Payment Exchange, as well as fraud and security services, are also key offerings.
The Data Solutions segment focuses on data-driven marketing solutions and hosted services, such as digital engagement and logo design. Deluxe also provides web hosting and design services, making it a versatile partner for businesses aiming to enhance their digital presence.
In the Promotional Solutions segment, Deluxe delivers business forms, accessories, advertising specialties, and promotional apparel. This segment helps businesses enhance brand visibility through various custom promotional products.
Lastly, the Checks segment includes the production of printed business and personal checks, a long-standing service that remains a critical part of Deluxe's offerings.
Deluxe Corporation is committed to innovation and quality, continually evolving its services to meet the changing needs of businesses. The company collaborates with a network of professional designers, copywriters, coders, and photographers, ensuring high-quality service delivery. Recent achievements include expanding its digital payment solutions and integrating advanced security features to safeguard transactions. With a solid financial foundation, Deluxe continues to grow and adapt, maintaining its significant role in the payment solutions industry.
Deluxe (NYSE: DLX), a Trusted Payments and Data Company, has announced inducement grants for John F. Rubinetti, III, its newly hired Senior Vice President and President of B2B Payments. The company agreed to grant Rubinetti restricted stock units worth $820,000 as an incentive to join Deluxe. On August 15, 2024, Rubinetti was granted 41,144 restricted stock units. This move highlights Deluxe's commitment to attracting top talent in the payments industry and strengthening its leadership team in the B2B payments sector.
Deluxe (NYSE: DLX), a trusted Payments and Data company, has elected Angela L. Brown to its Board of Directors. Brown, who served as President and CEO of Moneris Solutions until May 2023, brings extensive experience in merchant services and payment processing. She will serve on the Audit and Finance Committee and the Corporate Governance Committee.
Brown's background includes executive roles at MasterCard Worldwide, Fifth Third Bank, and Canadian Imperial Bank of Commerce. Her appointment is expected to provide valuable insights as Deluxe expands its merchant services business, particularly following the 2021 acquisition of First American Payments Systems.
Deluxe (NYSE: DLX) reported its Q2 2024 results, showing a 5.9% decrease in revenue to $537.8 million, while comparable adjusted revenue declined by 3.0%. Despite this, the company saw improvements in other key metrics:
- Net income increased 25% to $20.5 million
- GAAP diluted EPS grew 24.3% to $0.46
- Comparable adjusted diluted EPS rose 4.9% to $0.85
- Comparable adjusted EBITDA increased 1.6% to $101.8 million
Deluxe affirmed its 2024 guidance for adjusted EBITDA, adjusted diluted EPS, and free cash flow. The company's focus on core capital allocation priorities and reduced net debt levels supports its confidence in meeting full-year and long-term financial objectives.
Deluxe (NYSE: DLX), a modern Payments and Data company, has announced it will report its second quarter 2024 financial results on Wednesday, July 31, 2024, after the market closes. The company will host an open-access conference call at 5:00 p.m. ET (4:00 p.m. CT) on the same day to discuss the results. Interested parties can join the call by dialing 1-888-210-4748 (access code 7092711). A webcast with accompanying slides will be available on the company's investor relations website. For those unable to attend live, a replay will be accessible until midnight on August 7, 2024, by calling 1-800-770-2030 (access code 7092711).
Barry C. McCarthy, President and CEO of Deluxe, will be the 2024 inductee into the Technology Association of Georgia (TAG) Fintech Hall of Fame. McCarthy, who joined Deluxe in 2018, has transformed the company from a legacy check printer to a leader in digital payments and data solutions. Under his leadership, Deluxe processes nearly $3 trillion in payment volume annually and has achieved four consecutive years of organic revenue growth. McCarthy also orchestrated the largest acquisition in Deluxe's history with the 2021 purchase of First American Payments System.
McCarthy's contributions to the fintech industry are notable, including prior roles at First Data, Verisign, and Wells Fargo. He has been integral in innovations such as the launch of ApplePay and the creation of cloud-based ATMs. The induction will take place during Fintech South on August 27-28, 2024.
Deluxe (NYSE: DLX), a prominent Payments and Data company, has been recognized by Constellation Research Inc. on the Business Transformation 150 (BT150) list. This acknowledgment specifically highlights Yogaraj “Yogs” Jayaprakasam, SVP and Chief Technology and Digital Officer, for his leadership in leveraging technology for future innovation. This recognition adds to previous accolades, including the CIO 100 Award and being named one of America’s Most Trustworthy Companies by Newsweek for three consecutive years. The BT150 list honors global executives for their innovative use of technology to drive business transformation.
Deluxe (NYSE: DLX), a modern Payments and Data company, announced its participation in TD Cowen's 52nd Annual Technology, Media, and Telecom Conference. The event will feature a presentation by Barry McCarthy, President and CEO, and Chip Zint, SVP and CFO, on May 30 at 1:50 pm ET. The presentation will be accessible through a live webcast available on the company's investor relations website, with a replay option post-event.
Deluxe has announced the appointment of John Rubinetti as President of its B2B Payments business. Rubinetti brings extensive experience in Treasury and B2B payment solutions, having previously held senior roles at Fiserv, RBS/Citizens, American Express, and Bank of America Merchant Services.
At Deluxe, Rubinetti will focus on driving revenue growth, cultivating talent, and leading transformative initiatives in B2B payments.
His customer-centric approach has historically resulted in enhanced customer satisfaction and business success. CEO Barry McCarthy emphasized that Rubinetti's expertise will significantly advance Deluxe's B2B payments solutions.
Rubinetti expressed enthusiasm for joining a company with a strong history of innovation and is eager to contribute to its ongoing success.
Deluxe reported a 1.9% decrease in revenue but a 1.2% increase in comparable adjusted revenue for the first quarter of 2024. Net income improved to $10.8 million from $2.8 million in 2023. Deluxe raised its full-year free cash flow outlook, with a strong start to 2024 highlighted by improved operating results and a significant gain on a 2023 business exit. Comparable adjusted EBITDA increased by 7% to $96.9 million, and comparable adjusted diluted EPS improved by 4.3% to $0.72.
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