Bank / Credit Union
Diebold Nixdorf releases Q3 financial results
October 29, 2021
Diebold Nixdorf announced a drop in net sales by 3.7% due to longer leads times from supply chain and logistical issues in its Q3 results. The company also announced it will defer $90 million in venue to future periods due to these issues, according to a press release.
The company's GAAP total net sales were $958.2 million this period compared to $995.2 million last year. It's gross GAAP and non-GAAP profit were $260.1 million and $262.9 million respectively compared to $284.1 and $284.8 last year. Its GAAP and non-GAAP operating margins were also 4.0% and 8.5% respectively compared to 2.4% and 9.0% last year. The drop in operating profit and non-GAAP margin were due to revenue delays, higher raw material and fright costs and investments for further growth initiatives, according to the release.
The company's current outlook for total revenue for 2021 is between $3.90 and $3.95 billion, according to the results.
Diebold Nixdorf also shared several business updates in its results, including its DN Series ATMs, which are now live and certified in more than 60 countries, including a $12 million contract with Banco Azteca in Mexico.
"Demand for our solutions remained robust in the third quarter as we continued to help our customers deliver more digital, flexible and effective self-service solutions for consumers. Additionally, we are very proud to see consistent, meaningful improvement in our Net Promoter Scores with both banking and retail clients," Gerrard Schmid, president and CEO, Diebold Nixdorf, said in the release. "I am pleased with the support we have received in the market and the innovative spirit of our workforce as we navigate a difficult environment. Looking forward, we are seeing some moderation of supply chain constraints that gives us confidence for a strong fourth quarter and continued improvement in 2022."
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Diebold Nixdorf
As a global technology leader and innovative services provider, Diebold Nixdorf delivers the solutions that enable financial institutions to improve efficiencies, protect assets and better serve consumers.
