Cimpress reports Q4 EPS $1.08, two estimates 24c

Reports Q4 revenue $788.8M, two estimates $793.5M. The company states: “We continue to expect that currency movements will negatively impact our adjusted EBITDA by approximately $20 million in FY2024 compared to FY2023, based on the visibility we have to our contracted rates on currency hedges and options compared to recent spot rates. We expect that capital expenditures will continue to be at or below 2% of revenue, that capitalized software expense in FY2024 will be flat or slightly lower than in FY2023 due to the impact of our cost reductions, that cash taxes will be approximately $10 million higher than in FY2023, and that our net cash interest expense will be approximately $115 million. We also expect the remaining cash restructuring payments from recent cost reductions will be approximately $8 million in FY2024. Based on these expectations for FY2024, we now expect we will reduce our net leverage as defined by our credit agreement to below 3.25x by the end of FY2024, which is an improvement from the “below 3.5x” guidance previously provided.”