Q2 2024 Dun & Bradstreet Holdings Inc Earnings Call Transcript
Key Points
- Dun & Bradstreet Holdings Inc (DNB) reported a 4.3% organic revenue growth, marking the fourth consecutive quarter of mid-single-digit growth.
- EBITDA grew by 6% in the quarter, leading to a 60 basis point margin expansion.
- Strong demand for third-party, supply chain, risk, and master data management solutions in both North America and International segments.
- Successful share repurchase program, buying back around 960,000 shares at an average price of $9.70 per share.
- Introduction of innovative products like Hoover Smart Mail and Chat D&B Gen AI assistant, with over 4,000 clients using new Gen AI capabilities.
- 10% of revenues, including credibility and digital marketing solutions, continue to be negatively impacted by broader macro conditions.
- Net loss for the second quarter was $16 million, compared to a net loss of $19 million in the prior year quarter.
- Digital Marketing solutions saw a decline, with revenues down $4.6 million or 14% in the second quarter.
- Credibility solutions experienced a 7% decline in the second quarter, largely due to the impact of the consent order.
- Sales and Marketing revenues in the International segment saw a slight decrease of 0.3%.
Good morning, and welcome to Dun & Bradstreet's Financial Results for the second quarter of 2024. (Operator Instructions) Please note, this event is being recorded. I would now like to turn the conference over to Sean Anthony, Vice President of FP&A and Investor Relations. Please go ahead.
Thank you. Good morning, everyone, and thank you for joining us for Dun & Bradstreet's financial results conference call for the second 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 second quarter results 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 results for our company, and are therefore forward-looking statements. Our actual results may differ
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