Why Bankrupt-Emerged ATM Maker Diebold's Shares Are Rising Today

Diebold Nixdorf Incorporated DBD reported third-quarter net sales of $943.4 million, which rose 16.4% Y/Y. Revenue increased by 17.1% on Non-GAAP basis to $943.3 million.

In August, Diebold Nixdorf confirmed that it had completed its financial restructuring, emerged from the related Chapter 11 and Dutch proceedings, and began trading on the NYSE.

Diebold Nixdorf reported Q3 gross profit of $239.9 million, compared with $193.8 million a year ago. Operating profit in the quarter under review totaled $58.8 million.

The company registered an adjusted EBITDA of $109.1 million in Q3, higher than $75.6 million a year ago.

In the banking segment, revenue growth was primarily driven by continued demand for DN Series ATMs and integrated cash recycling solutions.

"I am especially grateful for the ongoing support of our customers, as we grew ATM unit sales nearly 25% and more than doubled the number of SCOs we sold from the prior-year," said Octavio Marquez, Diebold Nixdorf president and chief executive officer.

Marquez continued, "Based on our performance through three quarters of 2023, we are tracking toward the top half of the full-year financial outlook ranges for revenue and adjusted EBITDA we provided during our investor update on Aug. 14."

Price Action: DBD shares are trading higher by 11.34% to $21.70 on the last check Thursday.