On November 1, 2023, Dun & Bradstreet Holdings Inc (DNB, Financial), a leading global provider of business decisioning data and analytics, announced its unaudited financial results for the third quarter ended September 30, 2023.
Financial Performance
The company reported a 5.8% increase in revenue for Q3 2023, amounting to $588.5 million. However, GAAP net income for the same period was $4.4 million, a significant decrease from the $8.0 million reported in Q3 2022. Despite this, the company's adjusted net income was $116.2 million, slightly higher than the $115.4 million reported for the same period in the previous year.
Adjusted EBITDA and Earnings Per Share
Adjusted EBITDA for Q3 2023 was $235.4 million, marking a 5.6% increase compared to Q3 2022. The adjusted EBITDA margin for the same period was 40.0%. Adjusted diluted earnings per share remained flat at $0.27 compared to the prior year quarter.
Performance Overview
Anthony Jabbour, Dun & Bradstreet Chief Executive Officer, commented on the company's performance, stating,
We delivered another strong quarter of financial results and operational execution, with organic constant currency revenue growth of 4.8% and Adjusted EBITDA growth of 5.6% and Adjusted EBITDA margin of 40%. The third quarter maintained our positive momentum, as we continue to achieve durable and accelerating growth in a challenging operating environment."
Nine-Month Performance
For the nine months ended September 30, 2023, revenue was $1,683.6 million, a 3.3% increase compared to the same period in 2022. The GAAP net loss for this period was $48.7 million, compared to a net loss of $25.1 million for the prior year period. Adjusted EBITDA for the nine months ended September 30, 2023, was $631.6 million, a 3.0% increase compared to the same period in 2022.
Segment Results
In North America, revenue for Q3 2023 was $421.4 million, a 4.4% increase compared to Q3 2022. International revenue for the same period was $167.1 million, a 9.4% increase compared to Q3 2022.
Balance Sheet and Business Outlook
As of September 30, 2023, Dun & Bradstreet Holdings Inc (DNB, Financial) had cash and cash equivalents of $230.1 million and a total principal amount of debt of $3,686.4 million. The company expects revenues after the impact of foreign exchange to be in the range of $2,280 million to $2,320 million, and adjusted EBITDA to be in the range of $880 million to $910 million.
Explore the complete 8-K earnings release (here) from Dun & Bradstreet Holdings Inc for further details.
