Diebold Nixdorf Returns To Q2 Profit; Updates Guidance

(RTTNews) - Diebold Nixdorf, Incorporated (DBD), a financial and retail technology company, Wednesday reported net income of $14.9 million or $0.40 per share per share for the second quarter, compared with net loss of $677.1 million or $8.46 per share in the same quarter a year ago, primarily due to reorganization loss of $636.2 million last year. The company also raised its annual adjusted EBITDA outlook while cutting revenue guidance.

Excluding one-time items, earnings were $43.5 million or $1.16 per share, up from $21 million or $0.26 per share a year ago.

Operating profit was $70.7 million compared with loss of $3.9 million prior year.

Adjusted EBITDA or adjusted earnings before interest, taxes, depreciation, and amortization increased 40.9 percent year-on-year to $118.8 million.

Sales for the quarter increased to $939.7 million from $922.2 million in the previous year.

Looking ahead, the company now expects adjusted EBITDA to be in the range of $435 million - $450 million, up from the previous outlook of $410 million - $435 million. Revenue for the year is now expected to be flat, compared with the prior outlook of low single-digit growth.