The following is a summary of the Donnelley Financial Solutions, Inc. (DFIN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Donnelley Financial Solutions (DFIN) reported a Q1 net sales of $203.4 million, a 2.8% organic increase from Q1 of 2023.

• They showed strong growth in adjusted EBITDA and an expanded adjusted EBITDA margin of 27.1%.

• The Software solutions and Tech-enabled services net sales increased by 16% and 6% respectively, with a decline in Print and Distribution of 20%.

• The company completed the sale of land in Phoenix, resulting in a net of $13.2 million.

• Capital deployment included the repurchase of approximately 140,000 shares of their common stock for $8.8 million at an average price of $62.61 per share.

• In Q1 2024, the company recorded $50 million in capital markets transactional sales, a $5 million increase from last year's Q2 and a $2 million increase from this year's Q1.

Business Progress:

• In Q1, the software solutions portfolio was a key driver with $80.3 million in net sales.

• The growth in software solutions was led by Venue, with a sales growth of 43%.

• They are prepared to assist clients with compliance for the upcoming Tailored Shareholder Reports Regulation.

• The gross margin in print increased from 20% to over 40%, primarily due to a change in emissions.

• The company has seen a significant change in profits due to shifting towards more software and less print. This change is driving profit dollars and margin.

• DFIN regards themselves as the compliance leader attracting future clients and anticipates a strong pipeline for their ActiveDisclosure product.

• The company continues to pursue its transformation journey with investments to drive profitable recurring revenue growth and effective cost management.

More details: Donnelley Financial Solutions IR

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