Donnelley Financial Solutions reports Q4 non-GAAP EPS 61c, consensus 59c

Reports Q4 revenue $176.5M, consensus $169.36M. “We are pleased with the strong performance in the quarter, including organic consolidated net sales growth of 5.4%. Total software solutions net sales increased 8.2% on an organic basis, compared to the fourth quarter of 2022…In addition, we delivered Adjusted EBITDA margin of 23.4% in the quarter, in line with last year’s Q4 despite the continued weakness in the capital markets transactional environment,” said CEO Daniel Leib. “Throughout 2023, the focused execution of our strategy enabled us to achieve solid financial and operational results, in light of challenging market conditions. We delivered $207.4M of Adjusted EBITDA and Adjusted EBITDA margin of 26.0% for the full-year 2023, despite event-driven capital markets transactional revenue being down nearly $52M, or 22%..We recorded $292.7M of software solutions net sales in 2023, which represents approximately 37% of our full-year net sales, up from approximately 34% of total net sales in 2022…Heading into 2024, we look forward to opportunities created by new regulations such as Tailored Shareholder Reports and stand ready to assist our clients in complying with future regulatory changes…we are very well positioned to execute our strategy of becoming the market leading provider of regulatory and compliance solutions”.