Zinger Key Points
- Diebold Nixdorf reports 7% YoY revenue growth, and 23.2% increase in adjusted gross profit.
- Diebold Nixdorf completed its financial restructuring and emerged from related Chapter 11 and Dutch proceedings In August 2023.
- Get Pro-Level Earnings Insights Before the Market Moves
Diebold Nixdorf Incorporated DBD shares are trading higher on Wednesday.
The company reported fourth-quarter total adjusted net income attributable of $113.5 million or $3.02 per share.
Diebold Nixdorf emerged from its Chapter 11 and Dutch proceedings and began trading on the NYSE in August last year.
Quarterly revenue totaled $1.036 billion, up 7% year over year. The company reported an adjusted gross profit of $276.1 million, up 23.2% year over year.
“Our improved operational execution helped us meet our 2023 targets as we finished the year delivering $401 million of adjusted EBITDA, at the high end of our expectations,” CEO Octavio Marquez said.
Diebold reported an adjusted operating profit of $129.7 million in the quarter under review.
“In addition, we recently achieved another milestone by paying down $200 million of our higher-cost term loan and securing a new revolving credit facility. This will provide us with the flexibility we need to manage the seasonality of our business at a lower cost.”
Outlook: For FY24, the company expects low single-digit revenue growth, with adjusted EBITDA of $410 million-$435 million.
Price Action: DBD shares are trading higher by 4.57% to $33.40 on the last check Wednesday.
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