MINNEAPOLIS - Deluxe Corporation (NYSE: NYSE:DLX), a company specializing in payment and data services, announced the addition of Angela L. Brown to its Board of Directors. Brown's election to the board includes her serving on both the Audit and Finance Committee and the Corporate Governance Committee.
Brown's previous tenure as President and CEO at Moneris Solutions Corporation, which concluded in May 2023, coupled with her experience at MasterCard Worldwide and senior roles in banking institutions like Fifth Third Bank and Canadian Imperial Bank of Commerce, positions her as an asset with significant industry knowledge. Her expertise is expected to support Deluxe's expansion in merchant services.
Deluxe's President and CEO, Barry McCarthy, and Board Chair Cheryl Mayberry McKissack both expressed confidence in Brown's ability to contribute to the company's growth in the merchant services sector. Brown herself commented on the opportunity, highlighting Deluxe's evolution and her enthusiasm to contribute to its ongoing development.
Brown's background includes a notable stint on the board of Altus Group and chairing the Human Resources and Compensation Committee. She also recently completed her term as chair of TechNation. Her academic credentials include an MBA from the Schulich School of Business and a Bachelor of Arts from the University of Toronto, along with certifications in cybersecurity and financial literacy.
Deluxe Corporation, with a history of over a century, has established itself as a major player in the payments and data industry. The company's acquisition of First American Payment Systems in 2021, now known as Deluxe Merchant Services, has expanded its presence in digital payments. Deluxe processes over $2 trillion in annual payment volume, serving a wide array of customers from small businesses to large consumer brands.
The information for this article is based on a press release statement.
In other recent news, Deluxe Corporation reported its Q2 2024 financial results, maintaining its full-year guidance despite mixed results from different segments. The company reported a GAAP net income of $20.5 million and adjusted EBITDA of $101.8 million, with total revenue standing at $538 million, a 5.9% decrease. The Merchant Services segment saw revenue growth, while the B2B Payments and Print segments experienced declines.
Deluxe Corporation is implementing its North Star operating plan, which is projected to significantly enhance profitability by 2026. However, due to economic pressures on consumer spending, the company revised its revenue expectations slightly downward. The company's net debt level remained steady at $1.53 billion, with $17.6 million in free cash flow generated year-to-date.
Full-year guidance for adjusted EBITDA is between $400 million and $420 million, with an adjusted EPS forecast between $3.10 and $3.40. The company also plans to participate in CL King's 22nd Annual Best Ideas Conference in September. Despite some challenges, Deluxe Corporation's focus on capital allocation and operational efficiency supports its future financial performance.
InvestingPro Insights
As Deluxe Corporation (NYSE: DLX) welcomes Angela L. Brown to its Board of Directors, the company continues to leverage its robust financial performance and industry positioning to enhance its strategic direction. According to InvestingPro data, Deluxe boasts an impressive gross profit margin of 53.87% for the last twelve months as of Q2 2024, indicating strong operational efficiency in its business model. Additionally, the company has demonstrated a consistent commitment to shareholder returns, maintaining dividend payments for an extraordinary 54 consecutive years, with a notable dividend yield of 6.23% as of the latest data.
InvestingPro Tips for Deluxe Corporation also highlight the company's financial health and outlook. Analysts have a positive view on the company's net income, expecting it to grow this year, which could signal further potential for shareholder value creation. Furthermore, Deluxe's significant dividend payments to shareholders underscore its financial stability and the management's confidence in its cash flow generation capabilities. For investors seeking more in-depth analysis, there are additional InvestingPro Tips available, offering a comprehensive perspective on Deluxe's financial metrics and market position.
With a market capitalization of $882.01 million and an adjusted P/E ratio of 11.61, Deluxe Corporation presents a picture of a company with a solid foundation and the potential for growth. As the company expands its merchant services and leverages the experience of new board members like Angela L. Brown, these financial metrics and insights from InvestingPro could be valuable for investors looking to understand Deluxe's market proposition and future potential.
For those interested in exploring further, InvestingPro offers additional tips on Deluxe Corporation at https://www.investing.com/pro/DLX, providing a deeper dive into the company's performance and prospects.
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