Diebold Nixdorf Incorporated DBD shares are trading higher on Wednesday after the company reported second-quarter results.
The company reported adjusted earnings per share of $1.16, beating the analyst consensus of $1.05. Quarterly revenues of $939.7 million (+1.9%) exceeded the street view of $913.47 million.
Diebold Nixdorf reported a significant 47.1% year-over-year increase in non-GAAP operating profit, reaching $102.8 million, with an operating profit margin of 10.9%, up 330 basis points from the previous year.
The company’s net income was $14.8 million, and adjusted EBITDA saw a 40.9% year-over-year increase to $118.8 million.
“Given our strong year-to-date execution and outlook for the remainder of 2024, we are raising our full-year adjusted EBITDA guidance to a range of $435 million to $450 million. We are well positioned for future success and are focused on continuing our momentum into the second half of the year,” Octavio Marquez, Diebold Nixdorf president and chief executive officer, said.
“We are well positioned for future success and are focused on continuing our momentum into the second half of the year,” Marquez added.
Outlook: Diebold Nixdorf sees flat revenue growth in FY24, compared with a prior view of low single-digit growth.
The revised revenue forecast incorporates continued strength in banking, offset by retail product market headwinds and a modest unfavorable impact from foreign currency exchange.
The company sees adjusted EBITDA of $435 million—$450 million, which is higher than its prior view of $410 million—$435 million.
Diebold Nixdorf also announced the addition of Maura Markus and Colin Parris to its board of directors.
Price Action: DBD shares are trading higher by 12.6% to $41.71 at last check Wednesday.
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