Bank / Credit Union

Diebold Nixdorf improves Q4, FY 2021 losses, upbeat for 2022

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February 11, 2022

Diebold Nixdorf improved its Q4 and FY 2021 losses against a quarterly sales dip and a yearly sales gain and is bullish on FY 2022, according to an earnings release.

• Net sales dipped 4.2% from $1.1059 billion in Q3 2021 to $1.0596 billion in the quarter ending Dec. 31, 2022.
• Full year sales rose from $3.902 billion for FY 2020 to $3.905 for FY 2021.
• Net loss improved from $50.4 million to $37.6 million in the comparative quarters, and from $267.8 million to $78.1 million in the comparative years.
• For the comparative quarters, diluted EPS improved 25.8% from a 66-cent loss to a 49-cent loss on a GAAP basis but fell 86.4%from 44 cents to 6 cents on a non-GAAP basis.
• For the comparative years, basic and diluted EPS improved from a $3.47 loss to a $1.01 loss.
• Americas banking improved 3.1% from $374.8 million to $386.4 million for the comparative quarters but declined 4.4%from $1.419 billion to $1.357 billion for the comparative years.
• Eurasia banking declined 10.1% from $418.7 million to $376.5 million for the comparative quarters and dropped 5.4% from $1.431 billion to $1.344 billion for the comparative years.
• Retail sales fell 2.9% from $312.4 million to $296.7 million for the comparative quarters but jumped 13.5% from $1.052 billion to $1.194 billion for the comparative years.

Shares traded at $8.99 today against a 52-week range of $7.54-$17.30.

The quarterly revenue of $106 billion (rounded) missed analyst expectations by $10 million and the non-GAAP EPS of 6 cents missed expectations by 51 cents, according to Seeking Alpha.

"Our performance in 2021 shows that we are an agile company focused on sound execution, well-positioned to capitalize on the strong demand for our solutions as the market and consumers become increasingly more focused on self-service automation," Jeff Rutherford, Diebold Nixdorf executive vice president and chief financial officer, said in the press release.

"Looking forward, we are providing the following 2022 outlook: The company expects total revenue of $4 billion to $4.2 billion, which reflects approximately $150 million in revenue deferral from 2021 to 2022, and organic and pricing growth partially offset by modeled divestitures and terminated low-profit service contracts and potential ongoing logistics and supply chain disruptions."