Dun & Bradstreet Holdings, Inc. (NYSE: DNB) revenue for the second quarter of 2024 was $576.2 million, an increase of 3.9% and 4.2% on a constant currency basis compared to the second quarter of 2023.

  • Organic revenue increased 4.3% on a constant currency basis compared to the second quarter of 2023.
  • GAAP net loss for the second quarter of 2024 was $16.4 million, or loss per share of $0.04, compared to net loss of $19.4 million, or loss per share of $0.04 for the prior year quarter. Adjusted net income was $99.1 million, or adjusted diluted earnings per share of $0.23, compared to adjusted net income of $95.1 million, or adjusted diluted earnings per share of $0.22 for the prior year quarter.
  • Adjusted EBITDA for the second quarter of 2024 was $217.9 million, an increase of 5.7% compared to the prior year quarter. Adjusted EBITDA margin for the second quarter of 2024 was 37.8%.

“We are pleased with our solid performance in the second quarter. We delivered organic revenue growth of 4.3 percent, our fourth consecutive quarter of reported mid-single digit growth, and Adjusted EBITDA margin expansion of 60 basis points,” said Anthony Jabbour, Dun & Bradstreet Chief Executive Officer. “While 90 percent of our revenues grew just over 6 percent in the quarter, and approximately 6 percent year to date, we are updating our full year 2024 outlook to reflect our expectations around the remaining 10 percent of revenues and in particular the timing of macro environment improvement on our Digital Marketing solutions. Overall, the team is executing, and we remain focused on implementing our long-term strategic initiatives, investing in organic growth and deleveraging our balance sheet to maximize long term shareholder value.”

  • Revenue for the six months ended June 30, 2024 was $1,140.7 million, an increase of 4.2% compared to the six months ended June 30, 2023.
  • Organic revenue increased 4.3% on a constant currency basis compared to the six months ended June 30, 2023.
  • GAAP net loss for the six months ended June 30, 2024 was $39.6 million, or loss per share of $0.09, compared to net loss of $53.1 million, or loss per share of $0.12 for the prior year period. Adjusted net income was $184.1 million, or adjusted diluted earnings per share of $0.42, compared to adjusted net income of $175.6 million, or adjusted diluted earnings per share of $0.41 for the prior year period.
  • Adjusted EBITDA for the six months ended June 30, 2024 was $419.2 million, an increase of 5.8% compared to the six months ended June 30, 2023. Adjusted EBITDA margin for the six months ended June 30, 2024 was 36.8%.

Segment Results

North America

For the second quarter of 2024, North America revenue was $404.6 million, an increase of $13.0 million or 3.3% and 3.4% on a constant currency basis compared to the second quarter of 2023.

  • Finance and Risk revenue for the second quarter of 2024 was $216.0 million, an increase of $5.4 million or 2.6% compared to the second quarter of 2023.
  • Sales and Marketing revenue for the second quarter of 2024 was $188.6 million, an increase of $7.6 million or 4.2% compared to the second quarter of 2023.

North America adjusted EBITDA for the second quarter of 2024 was $178.2 million, an increase of 2.7%, with adjusted EBITDA margin of 44.0%.

For the six months ended June 30, 2024, North America revenue was $791.2 million, an increase of $24.9 million or 3.2% and 3.3% on a constant currency basis compared to the six months ended June 30, 2023.

  • Finance and Risk revenue for the six months ended June 30, 2024 was $424.1 million, an increase of $12.3 million or 3.0% compared to the six months ended June 30, 2023.
  • Sales and Marketing revenue for the six months ended June 30, 2024 was $367.1 million, an increase of $12.6 million or 3.5% and 3.6% on a constant currency basis compared to the six months ended June 30, 2023.

North America adjusted EBITDA for the six months ended June 30, 2024 was $330.3 million, an increase of 2.0%, with adjusted EBITDA margin of 41.7%.

International

International revenue for the second quarter of 2024 was $171.6 million, an increase of $8.5 million or 5.2% and 6.2% on a constant currency basis compared to the second quarter of 2023. Excluding the divestiture of a business-to-consumer business in Finland and the negative impact of foreign exchange of $1.5 million, International organic revenue increased 6.4%.

  • Finance and Risk revenue for the second quarter of 2024 was $116.5 million, an increase of $8.7 million or 8.1% and 8.9% on a constant currency basis compared to the second quarter of 2023.
  • Sales and Marketing revenue for the second quarter of 2024 was $55.1 million, a decrease of $0.2 million or 0.3% and an increase of 0.9% on a constant currency basis compared to the second quarter of 2023. Excluding the impact of the divestiture and the negative impact of foreign exchange, organic revenue increased 1.6%.

International adjusted EBITDA for the second quarter of 2024 was $53.8 million, an increase of 9.5%, with adjusted EBITDA margin of 31.3%.

International revenue for the six months ended June 30, 2024 was $349.5 million, an increase of $20.7 million or 6.3% and 6.2% on a constant currency basis compared to the six months ended June 30, 2023. Excluding the divestiture of a business-to-consumer business in Finland and the positive impact of foreign exchange of $0.2 million, International organic revenue increased 6.6%.

  • Finance and Risk revenue for the six months ended June 30, 2024 was $236.5 million, an increase of $17.9 million or 8.2% and 8.0% on a constant currency basis compared to the six months ended June 30, 2023.
  • Sales and Marketing revenue for the six months ended June 30, 2024 was $113.0 million, an increase of $2.8 million or 2.6% and 2.8% on a constant currency basis compared to the six months ended June 30, 2023. Excluding the impact of the divestiture and the negative impact of foreign exchange, organic revenue increased 3.8%.

International adjusted EBITDA for the six months ended June 30, 2024 was $118.1 million, an increase of 12.8%, with adjusted EBITDA margin of 33.8%.

Business Outlook

  • Revenues after the impact of foreign exchange are expected to be at the low end of our previously communicated range of $2,400 million to $2,440 million, or ∼3.7% to 5.4%.
  • Organic revenue growth is also expected to be at the low end of our previously communicated range of 4.1% to 5.1%.
  • Adjusted EBITDA is expected to continue to be in the range of $930 million to $950 million.
  • Adjusted EPS is expected to continue to be in the range of $1.00 to $1.04.

The foregoing forward-looking statements reflect Dun & Bradstreet’s expectations as of today’s date and Revenue assumes constant foreign currency rates. Dun & Bradstreet does not present a qualitative reconciliation of its forward-looking non-GAAP financial measures to the most directly comparable GAAP measure due to the inherent difficulty, without unreasonable efforts, in forecasting and quantifying with reasonable accuracy significant items required for this reconciliation. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially. Dun & Bradstreet does not intend to update its forward-looking statements until its next quarterly results announcement, other than in publicly available statements.

Source:  D&B Earnings Release