EarningsQ2 2026 Earnings Report
DE:1DN Q2 2026 EPS Results
Actual EPS€1.57
Consensus EPS€1.45
Beat/MissBeat by +€0.11
One Year Ago EPS€1.33
DE:1DN Q2 2026 Revenue Results
Actual Revenue€199.69M
Expected Revenue€197.20M
Beat/MissBeat by +€2.49M
YoY Revenue Growth+2.80%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeBefore Open
Conference CallThursday, July 30, 2026
DE:1DN Upcoming Earnings
Donnelley Financial Solutions's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:1DN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly positive operational and financial outlook: software-led growth produced record software revenue, stronger gross margins, higher adjusted EBITDA and free cash flow, and a healthy balance sheet with active share repurchases. Headwinds are mostly structural and expected (continued secular decline in print and potential acceleration from proposed SEC E-Delivery rule), plus some near-term expense pressures (higher SG&A, bad debt, incentive compensation) and timing sensitivity in capital markets transactional revenue. On balance the positive momentum in software, margin expansion and cash generation outweigh the challenges, though the company will need to manage ongoing print contraction and regulatory-driven shifts.Company Guidance
Consolidated Revenue Growth
Second quarter net sales of $224.2 million, up $6.1 million or 2.8% year-over-year; third consecutive quarter of consolidated net sales growth. Excluding print and distribution, Q2 net sales increased 6.9% YoY.
Record Software Revenue
Software solutions delivered record quarterly net sales of $99.4 million (44.3% of total net sales), up approximately 7.8%–8% YoY; software mix increased ~200 basis points vs. prior-year quarter and software represented 47.9% of trailing 4-quarter net sales (+280 bps YoY).
ActiveDisclosure Outperformance
ActiveDisclosure grew ~29% YoY (fourth consecutive quarter of 20%+ growth), driven by higher net client count, higher average value per client, more transactional documents migrated to the platform and increased S-1 usage (S-1s accounted for ~1/3 of ActiveDisclosure's Q2 growth).
Profitability Expansion
Adjusted EBITDA of $82.3 million, up $6.0 million or 7.9% YoY; adjusted EBITDA margin expanded to 36.7%, up ~170 basis points YoY and noted as a quarterly record for the company.
Gross Margin Improvement
Adjusted non-GAAP gross margin improved to 66.0%, approximately 230 basis points higher than Q2 2025, driven by software growth, capital markets transactional revenue, cost controls and pricing actions.
Strong Capital Markets Transactional Recovery
Capital markets transactional revenue was $47.3 million, up roughly $13 million or ~36% YoY, exceeding the high end of expectations and reflecting a rebound in IPOs and U.S. M&A activity versus a weak Q2 2025 comparable.
Cash Flow and Balance Sheet Strength
Free cash flow of $61.2 million, an improvement of $9.5 million YoY; total debt $204 million, non-GAAP net debt $178.7 million, and non-GAAP net leverage ratio of 0.7x as of June 30, 2026.
Share Repurchases and Capital Deployment
Repurchased ~763,000 shares in Q2 for $34.7 million (avg $45.48); YTD repurchases ~1.4 million shares for $63 million (avg $46.40); $125.4 million remaining under a $150 million authorization.
Organizational and Cultural Recognition
Appointed Ken Napolitano as Chief Revenue Officer and added Joe Binz to the Board; recognized as #1 Most Loved Workplace on the 2026 Global 100 Most Loved Workplaces list (Economist).
Forward-Looking Momentum
Q3 guidance midpoint implies consolidated revenue of $180 million (≈3% YoY growth) with capital markets transactional revenue assumed $45–50 million and continued software growth (ActiveDisclosure and Venue) expected to offset further print declines.
DE:1DN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed