Q1 2024 Dun & Bradstreet Holdings Inc Earnings Call Transcript
Key Points
- Dun & Bradstreet Holdings Inc (DNB) reported accelerated organic revenue growth of 4.3% and a 50 basis point margin expansion.
- The company improved free cash flow conversion to 119%, up 22 percentage points from the previous year.
- A new share repurchase program of up to 10 million shares through 2027 was authorized, reflecting confidence in the company's financial health and stock value.
- Retention rates remained high at 96%, indicating strong customer loyalty and successful cross-sell and upsell strategies.
- Dun & Bradstreet Holdings Inc (DNB) is making significant advancements in generative AI, expecting it to contribute to growth in the coming years.
- Net loss for the first quarter was $23 million, indicating ongoing challenges despite revenue growth.
- The company is still working through credibility business challenges, which have been a drag on performance.
- Higher infrastructure costs associated with cloud platform upgrades impacted margins.
- While there is strong growth in some areas, about 10% of revenue segments are not performing well, requiring strategic focus and potential re-investment.
- The company faces intense competition in data and analytics sectors, requiring continuous innovation and investment to maintain its market position.
Good morning, ladies and gentlemen, and welcome to the Dun & Bradstreet First Quarter 2024 Earnings Conference Call. (Operator Instructions) This call is being recorded on Thursday, 2nd of May 2024.
I would now like to turn the conference over to Mr. Sean Anthony, VP, Corporate FP&A. Please go ahead, sir.
Thank you. Good morning, everyone, and thank you for joining us for Dun & Bradstreet's financial results conference call for the first quarter of 2024.
On the call today, we have Dun & Bradstreet's CEO, Anthony Jabbour; and CFO, Bryan Hipsher. Anthony will begin with an overview of our first quarter results, provide a few strategic updates on what's driving our growth outlook and then pass it to Bryan for an in-depth financial review. We will then finish up with Q&A and a few closing remarks.
Before we begin, allow me to provide a disclaimer regarding forward-looking statements. This call, including the Q&A portion of the call, may include forward-looking statements related to the expected future
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