Donnelley Financial Solutions Inc DFIN shares are trading lower by 23.46% to $37.94 Tuesday afternoon after the company reported worse-than-expected fourth-quarter adjusted EPS and sales results.
What Happened?
Donnelley Financial Solutions reported quarterly earnings of 59 cents per share which missed the analyst consensus estimate of 73 cents. The company also reported quarterly sales of $167.70 million which missed the analyst consensus estimate of $181.70 million by 7.7%. This sales figure is a 28% decrease over sales of $232.80 million in the same period last year.
During the fourth quarter the company recorded software solutions net sales of $68.7 million, software solutions net sales accounted for 41.0% of total net sales, up from 31.7% in the fourth quarter of 2021.
Additionally during the fourth quarter, the company repurchased 366,197 shares for $13.7 million at an average price of $37.27 per share. As of December 31, 2022, the remaining share repurchase authorization was $124.3 million.
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According to data from Benzinga Pro, DFIN has a 52-week high of $50.38 and a 52-week low of $24.60.