Payments

Diebold Nixdorf reports strong Q4, FY 2023 results

Image: Diebold Nixdorf Inc.

February 14, 2024

Diebold Nixdorf Inc. reported sales and earnings gains for Q4 and FY 2023, according to an earnings release.

Highlights include:

• Net sales rose 7% from $968.8 million in Q4 2022 to $1.04 billion in the quarter ending Dec. 31, 2023.
• Net income improved from a $152 million loss to a $27.5 million gain in the comparative quarters.
• EPS rose from a $1.89 loss to a 72-cent gain.
• Non-GAAP EPS for Q4 2023 was $3.02.
• Total banking revenue rose 8.6% from $689.1 million to $748.6 million.
• Total retail revenue rose 4% from $279.7 million to $288.2 million.
• Full-year revenue rose 8.7% from $3.46 billion to $3.76 billion.
• Full-year net income rose from a $42.1 million loss to a $107.4 million gain.
• Full-year non-GAAP EPS rose from a 53-cent loss to a $2.96 gain.
• Full-year banking revenue rose 10.2% from $2.42 billion to $2.68 billion.
• Full-year retail revenue rose 5.2% from $22.4 million to $36.24 million.

Shares traded today at $33.54 against a 52-week range of $16.50 to $34.54.

The quarterly revenue of $1.04 beat analyst estimates by $10 million and the non-GAAP EPS of $3.02 beat expectations by $1.59, according to Seeking Alpha.

"We delivered solid results in the fourth quarter, profitably growing revenue, expanding gross margin and driving disciplined cost management," CEO Octavio Marquez said in a press release. "Our improved operational execution helped us meet our 2023 targets as we finished the year delivering $401 million of adjusted EBITDA, at the high end of our expectations."

The company expects 2024 revenue to be in the low single digits.