Octavio Marquez, President and CEO of Diebold Nixdorf Inc. (NYSE:DBD), recently purchased shares in the company, according to a recent SEC filing. On November 12, Marquez acquired a total of 1,690 shares of common stock, with prices ranging from $40.57 to $40.95. The total value of these transactions amounted to $69,018. Following these purchases, Marquez now owns 137,464 shares, including restricted stock units. This move reflects Marquez's continued investment in the company's future.
In other recent news, Diebold Nixdorf (OTC:DBDQQ) reported its Q3 2024 financial results, marking the company's seventh consecutive quarter of margin expansion despite a slight decline in total revenue. The company's total revenue for Q3 2024 was $927 million, a 1.7% decrease year-over-year, but gross profit increased by 8.2%, marking the highest product margin in its history. On the other hand, banking revenue grew by 3.8%, while retail revenue fell by 15% due to macroeconomic challenges.
The company is on track with its adjusted EBITDA guidance for the year, targeting $435 million to $450 million. Diebold Nixdorf expects a strong finish to 2024 with substantial profitability, backed by a robust service revenue and a significant product backlog. Looking into 2025, the company anticipates low-single-digit revenue growth with a mid-to-high single-digit increase in adjusted EBITDA.
In terms of future strategies, Diebold Nixdorf is focusing on enhancing free cash flow and aims for a mid-to-high single-digit EBITDA growth for 2024. An Investor Day is planned for February 26, 2025, to discuss future plans and strategies to enhance shareholder value. These are the latest developments in the company's journey towards sustained growth and profitability.
InvestingPro Insights
Octavio Marquez's recent purchase of Diebold Nixdorf Inc. (NYSE:DBD) shares aligns with several positive indicators highlighted by InvestingPro. The company's stock has shown remarkable resilience, boasting a high return of 89.56% over the last year. This performance is particularly noteworthy given the recent market volatility, with DBD's stock taking a significant hit of -16.54% over the last week.
Despite the short-term dip, InvestingPro data reveals that Diebold Nixdorf's revenue for the last twelve months as of Q3 2023 stands at $3,799 million, with a modest growth of 2.88%. More impressively, the company's EBITDA has surged by 73.64% during the same period, reaching $405.1 million. This robust EBITDA growth suggests improving operational efficiency and profitability.
InvestingPro Tips indicate that analysts predict the company will be profitable this year, which could explain Marquez's confidence in increasing his stake. Additionally, the company's high shareholder yield is an attractive feature for investors seeking value.
It's worth noting that while Diebold Nixdorf is trading at a high earnings multiple, with a P/E ratio of 157.5 for the last twelve months as of Q3 2023, this could be justified by expectations of future growth. The InvestingPro Fair Value estimate of $58.92 suggests potential upside from the current trading price.
For investors interested in a deeper dive into Diebold Nixdorf's prospects, InvestingPro offers 8 additional tips, providing a more comprehensive analysis of the company's financial health and market position.
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