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Diebold Nixdorf reports Q4 FY 2022 sales, earnings declines

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February 9, 2023

Diebold Nixdorf Inc. suffered sales and earnings declines in Q4 2022, but reported an end-of-year backlog of about $1.4 billion and contract base growth in retail self-service solutions, according to an earnings report.

Highlights include:

Sales fell 8.6%, from $1.059 billion in Q4 2021 to $968.8 million in the quarter ending Dec. 31, 2022.
Net loss extended from $37.6 million to $152 million in the comparative quarters.
Diluted loss per share on a GAAP basis extended from 49 cents to $1.92.
Diluted EPS on a non-GAAP basis rose from 6 cents to 79 cents.
Banking revenue fell 9.7%, from $762.9 million to $689.1 million in the comparative quarters.
The number of ATM units sold fell 3.7% from 18,066 to 17,291.
Self-checkout units rose from 4,806 to 5,750.
Retail revenue fell 5.7% from $296.7 million to $279.7 million.
Full year non-GAAP net sales fell from $3.89 billion in 2021 to $3.44 billion in 2022.
Full year net loss extended from $78.1 million in 2021 to $585.6 million in 2022.
Full year banking revenue fell 10.6% from $2.711 billion to $2.422 billion.
Full year retail revenue fell 13% from $1.194 billion to $1.038 billion.
Full year self checkout units rose 4.6%, from 20,094 to 21,022.

Shares traded today at $2.33 against a 52-week range of $1.26-$10.10.

The quarterly revenue of $968.8 million missed the Zacks Consensus Estimate by 1.71%, while the diluted EPS of 79 cents beat the Zacks Consensus Estimate of 33 cents,, according to Yahoo Finance.

"As we look at 2023, we are well-positioned for success with a strong order pipeline and a straightforward focus: converting our backlog into revenue," Octavio Marquez, chairman, president and CEO, said in the press release. "Closing the TSA (transaction support agreement) was an important milestone that provides us with the capital we need to normalize our operations, meet supplier commitments and fully execute on our value-generating operating model. Now, our focus is solely back on the business. Executing our model will also allow us to start the important work of deleveraging the business, generating free cash flow and continuing to evaluate strategic opportunities to enhance shareholder value."