Deluxe Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Deluxe Corporation has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

DELUXE CORP (DLX) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Deluxe Corporation filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. Deluxe Corp is incorporated in Minnesota. The filing was submitted on May 3, 2024.

Why It Matters

For investors and stakeholders tracking DELUXE CORP, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Deluxe Corp. Understanding the details within this report is crucial for assessing the company's current financial health and future prospects.

Risk Assessment

Risk Level: low — DELUXE CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Deluxe Corp's performance in Q1 2024.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly report end date)
• 2024-05-03 — Filing Date (Date the report was filed)
• 12/31 — Fiscal Year End (Annual fiscal year end)
• 001-07945 — SEC File Number (Company's SEC file number)

Key Players & Entities

• DELUXE CORP (company) — Filer name
• 0000027996 (company) — Central Index Key
• 2024-03-31 (date) — Period of report
• 2024-05-03 (date) — Filed as of date
• MINNEAPOLIS (location) — Business address city
• MN (location) — Business address state

FAQ

Industry Context

Deluxe Corporation operates in the manufacturing sector, specifically in blankbooks, looseleaf binders, and related bookbinding work.

Regulatory Implications

The filing is a standard 10-Q, adhering to the reporting requirements of the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for Q1 2024.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for narrative insights.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-03: Filing Date — Date Deluxe Corp submitted its 10-Q to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 2023 annual report (10-K).

Key Financial Figures

• $1.00 — ich registered Common Stock, par value $1.00 per share DLX NYSE Indicate by check

Filing Documents

• dlx-20240331.htm (10-Q) — 1266KB
• exhibit1033312024.htm (EX-10.3) — 76KB
• exhibit3113312024.htm (EX-31.1) — 9KB
• exhibit3123312024.htm (EX-31.2) — 9KB
• exhibit3213312024.htm (EX-32.1) — 6KB
• dlx-20240331_g1.jpg (GRAPHIC) — 30KB
• 0000027996-24-000120.txt (&nbsp;) — 7862KB
• dlx-20240331.xsd (EX-101.SCH) — 41KB
• dlx-20240331_cal.xml (EX-101.CAL) — 89KB
• dlx-20240331_def.xml (EX-101.DEF) — 205KB
• dlx-20240331_lab.xml (EX-101.LAB) — 625KB
• dlx-20240331_pre.xml (EX-101.PRE) — 421KB
• dlx-20240331_htm.xml (XML) — 1311KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS DELUXE CORPORATION CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands, except share par value) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents, including securities carried at fair value of $ 22,000 as of December 31, 2023 $ 23,544 $ 71,962 Trade accounts receivable, net of allowance for credit losses 171,269 191,005 Inventories and supplies, net of reserve 38,665 42,088 Funds held for customers 108,227 383,134 Prepaid expenses 35,054 30,116 Revenue in excess of billings 31,946 26,107 Other current assets 21,505 16,576 Total current assets 430,210 760,988 Deferred income taxes 8,177 8,694 Long-term investments 62,278 61,924 Property, plant and equipment, net of accumulated depreciation of $ 340,233 and $ 334,101 , respectively 111,094 116,539 Operating lease assets 55,073 58,961 Intangibles, net of accumulated amortization of $ 743,140 and $ 775,190 , respectively 374,013 391,744 Goodwill 1,430,558 1,430,590 Other non-current assets 257,193 251,182 Total assets $ 2,728,596 $ 3,080,622 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 159,306 $ 154,863 Funds held for customers 108,883 386,622 Accrued liabilities 154,884 191,427 Current portion of long-term debt 21,550 86,153 Total current liabilities 444,623 819,065 Long-term debt 1,538,543 1,506,698 Operating lease liabilities 55,389 58,840 Deferred income taxes 18,173 22,649 Other non-current liabilities 63,476 68,754 Commitments and contingencies (Note 13) Shareholders' equity: Common shares $ 1 par value (authorized: 500,000 shares; outstanding: March 31, 2024 – 44,046 ; December 31, 2023 – 43,743 ) 44,046 43,743 Additional paid-in capital 101,317 99,141 Retained earnings 488,317 491,238 Accumulated other comprehensive loss ( 25,837 ) ( 30,028 ) Non-controlling interest 549 522 Total shareholders' equity 608,392 604,616 Total liabilities and shareholders' equity $ 2,728,5

View Full Filing

View this 10-Q filing on SEC EDGAR