Retail

Diebold Nixdorf Q2 2021 sales rise 6%, earnings dip

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August 2, 2021

Diebold Nixdorf sales rose 6% from $890.5 million in Q2, 2021 to $943.5 million for the quarter ending June 30, 2021, according to an earnings release.

Net loss on a GAAP basis rose 31.2% from a $23.1 million loss to a $30.3 million loss in the comparative quarters.

Diluted loss per share on a GAAP basis increased 25.8% from 31 cents to 39 cents. On a non-GAAP basis, diluted earnings per share fell 73.7% from 38 cents to 10 cents.

The company's total retail revenue rose 37.8% from $221.4 million in Q2 2020 to $305 million in Q2 2021, while total Eurasia banking fell 3.5% from $337.7 million to $326 million and total Americas banking fell 5.7% from $331.4 million to $312.4 million.

Total net sales for the six months ending June 30 rose 4.8% from$1.8 billion to $1.9 billion.

For the six months ending June 30, total retail revenue rose 27.8% from $476.9 million in 2020 to $609.4 million in 2021, while total Eurasia banking revenue rose 0.9% from $648.2 million to $653.8 million and total Americas banking revenue dipped 7.7% from $676.1 million to $624.2 million.

In its mid-year summary presentation, the company noted strong customer demand in both banking and retail.

For banking, it noted gains in market share for the next generation DN Series ATM, growing adoption of IoT and machine learning among service customers, and increasing interest in managed services and payment capabilities.

For retail, it noted strong market adoption and value proposing for self-checkout solutions.

The company also cited challenging supply chain conditions, such as longer lead times from components, prolonged logistics schedules and inflationary pressures, most notably on direct materials and logistics.

"Looking to the second half of the year, we expect solid demand for our solutions and are reiterating our full-year revenue forecast of 3% to 5% growth," CEO Gerrad Schmid said in the release. "At the same time, higher-than-expected inflation for components and logistics lead us to adjust our 2021 outlook for profit and free cash flow."

The revenue outlook remains unchanged from the previously stated $4 billion to $4.1 billion, while non-GAAP has been raised from $480 million–$500 million to $455 million–$475 million.

The $943.5 million in quarterly revenue missed analyst expectations by $15.7 million while the non-GAAP EPS of 10 cents missed expectations by 15 cents and the GAAP EPS of a 39-cent loss missed expectations by 26 cents, according to Seeking Alpha.

Shares traded today at $10.41 against a 52-week range of $5.97-$17.30.