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Diebold Nixdorf (NYSE: DBD) 1Q19 Results: Misses Consensus, But Profitability Improves Amid Transformation

Executive Summary

  • Diebold Nixdorf reported 1Q19 revenues of $1.03 billion, down 3.4% as reported up 3.0% in constant currency and below the $1.05 billion consensus estimate. Adjusted EPS was $(0.63), below $(0.13) in the year-ago quarter and below the $(0.35) consensus estimate.
  • Revenue in the company’s Americas banking segment grew 8.7% year over year, driven by a 49.4% increase in product revenue. Revenue from retail products grew 5.1%.
  • The company reiterated its prior 2019 guidance of revenues of $4.4-4.5 billion (down 2-4%) and adjusted EBITDA of $380-420 million (up 15-27%).

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