Deluxe, Q3 2026 Earnings Call Transcript

Deluxe raised its 2026 revenue and adjusted EBITDA guidance after Q3 growth, margin expansion and strong cash generation. Payments and Data reached 57% of revenue; Data grew 15.4% for an eighth consecutive quarter, while combined Payments and Data revenue rose 8.3% excluding acquisition impacts. Celero’s integration is progressing in line with or ahead of expectations, and management expects the acquisition to support faster Merchant growth and cost synergies. Full-year free cash flow guidance remains about $200 million, with the company targeting net leverage of 3x or lower by the end of 2028. Management expects low- to mid-single-digit comparable revenue declines in Print, low-single-digit growth in B2B Payments and continued double-digit Data growth in Q4, with normal seasonal moderation. Executives reported no significant recent change in demand trends, while citing consumer stress and interest rates, inflation and labor supply as risks to the outlook.