Dun & Bradstreet (DNB) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached $609.1 million, up 3.5% year-over-year, with organic revenue growth of 3.4% and strong contributions from both North America and International segments.

• Adjusted EBITDA grew 5.1% to $247.4 million, with a margin of 40.6%, up 60 basis points year-over-year.

• Net income was $3.2 million ($0.01 per share), down from $4.4 million last year, mainly due to lower tax benefit and higher amortization loss.

• Launched Chat D&B, a generative AI assistant, and announced strategic partnerships with LSEG and ICE.

• Management is evaluating inbound interest from strategic and financial acquirers, with significant focus on this process.

Financial highlights

• Q3 2024 GAAP revenues were $609.1 million, up 3.5% year-over-year; organic revenue up 3.4%.

• Adjusted EBITDA was $247.4 million (40.6% margin), up 5.1% year-over-year.

• Adjusted net income was $116.0 million ($0.27 per share), flat year-over-year.

• Operating income rose 19.3% to $62.2 million, reflecting higher revenue and lower personnel and depreciation costs.

• Operating cash flow for nine months was $286.9 million, up $3.2 million from prior year.

Outlook and guidance

• 2024 total revenues expected at the low end of $2,400–$2,440 million (3.7%–5.4% growth).

• Organic constant currency revenue growth expected at the low end of 4.1%–5.1%.

• Adjusted EBITDA guidance: $930–$950 million; Adjusted EPS: $1.00–$1.04.

• Capital expenditures for 2024 projected at $195–$205 million.

• Net leverage expected around 3.5x by year-end, targeting 3–3.25x in 2025.