DLX - Deluxe reports Q4 earnings beat; initiates FY23 guidance

• Deluxe press release ( NYSE: DLX ): Q4 Non-GAAP EPS of $1.04 beats by $0.01 .
• Revenue of $564M (-1.2% Y/Y) beats by $24.6M .
• Adjusted EBITDA margin was 19.9%, down 60 basis points from the prior year.
• Cash flow from operations for the fourth quarter was $68.1M and capital expenditures were $31.1M.
• Free cash flow was $37.0M, an increase of $3.5M compared to the fourth quarter of 2021.

• Outlook: The company expects the following for full-year 2023, inclusive of expected divestitures, and all figures are approximate: Revenue of $2.145 to $2.210 billion vs. consensus of $2.20B; Adjusted EBITDA of $390 to $405 million; Adjusted EPS of $2.90 to $3.25 vs. consensus of $3.98; and Free cash flow of $80 to $100 million

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