Dun & Bradstreet (DNB) Q4 2024 earnings summary

Executive summary

• Achieved 3% organic revenue growth and expanded EBITDA margins by 30 basis points for full year 2024.

• Q4 2024 revenue was $631.9 million, up 0.2% year-over-year; full year revenue reached $2,381.7 million, up 2.9% year-over-year.

• Net income for Q4 2024 was $7.8 million; full year net loss narrowed to $(28.6) million from $(47.0) million in 2023.

• Completed major technology and client migrations, positioning for future growth.

• Ongoing strategic review process expected to conclude in Q1 2025, with potential outcomes including sale or divestitures.

Financial highlights

• Q4 adjusted EBITDA: $260.0 million (41.2% margin); full year adjusted EBITDA: $926.6 million (38.9% margin, up 30 bps YoY).

• Adjusted net income for 2024: $429.1 million ($0.98 EPS), nearly flat YoY.

• Q4 net income: $7.8 million ($0.02 EPS), up from $1.7 million prior year.

• Full year net loss: $28.6 million ($0.07 loss per share), improved from $47.0 million loss prior year.

• Operating cash flow for the year was $436.9 million.

Outlook and guidance

• 2025 revenue guidance: $2,440–$2,500 million (2.5%–5% growth); organic constant currency growth expected at 3%–5%.

• Adjusted EBITDA expected at $955–$985 million; adjusted EPS $1.01–$1.07.

• Net leverage targeted to improve to 3.25x by year-end 2025.

• Q1 2025 expected at low end of guidance range due to ongoing process; growth to accelerate through the year.

• Guidance based on adjusted interest expense of ~$200 million, D&A of $160–$170 million, tax rate of 22–23%, and capex of $190–$200 million.