Deluxe Corp. (DLX) Tops Q1 EPS by 22c, Reaffirms 2021 Outlook

Deluxe Corp. (NYSE: DLX) reported Q1 EPS of $1.26, $0.22 better than the analyst estimate of $1.04. Revenue for the quarter came in at $441.3 million versus the consensus estimate of $427.3 million.

Outlook for Stand-Alone Deluxe:

Based on our first quarter results, the outlook remains unchanged and the company continues to expect the following for the full year 2021:

• Revenue growth in the range of 0% to 2% primarily due to the combination of sales transformation and related wins, as well as a steady macro-economic recovery from COVID-19
• Adjusted EBITDA margin in a range between 20% to 21%
• To exit the year with a growth rate in mid-single digits, without benefit of acquisitions, a significant transformation milestone
• Tax rate to continue to be approximately 25%
• Capital expenditures to be approximately $90 million

In second quarter 2021, we expect to deliver continued improvement in revenue performance, with solid margins. This includes the impact of headwinds from temporary COVID-related salary and benefit reductions implemented in April 2020. These actions benefited the full second quarter of 2020 and were substantially restored in third quarter 2020.

For earnings history and earnings-related data on Deluxe Corp. (DLX) click here.

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