Dun & Bradstreet Holdings, Inc. reported a revenue increase for the third quarter of 2024, achieving $609.1 million, up from $588.5 million in the same period of 2023. For the nine months ended September 30, 2024, total revenue reached $1,749.8 million, compared to $1,683.6 million in the prior year. The growth was driven by a 3.5% increase in revenue for the quarter and a 3.9% increase for the nine-month period, attributed to strong performance in both North America and International segments.
Operating income for the third quarter rose to $62.2 million, a 19.3% increase from $52.1 million in Q3 2023. For the nine months, operating income improved significantly to $115.9 million, up 51.4% from $76.5 million in the previous year. However, net income for the third quarter decreased slightly to $4.2 million from $5.3 million, while the nine-month net loss narrowed to $33.4 million from $46.3 million in 2023.
The company’s Adjusted EBITDA for the third quarter was $247.4 million, reflecting a 5.1% increase from $235.4 million in Q3 2023. For the nine months, Adjusted EBITDA totaled $666.6 million, up from $631.6 million in the prior year. The Adjusted EBITDA margin improved to 40.6% for the third quarter and 38.1% for the nine months, compared to 40.0% and 37.5%, respectively, in 2023.
Dun & Bradstreet's total current assets increased to $710.2 million as of September 30, 2024, from $656.3 million at the end of 2023, with cash and cash equivalents rising to $288.7 million. Total liabilities decreased to $5,657.7 million, while total stockholders' equity fell to $3,331.8 million.
The company undertook restructuring efforts, incurring charges of $7.8 million in Q3 2024, significantly higher than the $1.6 million in the same quarter of 2023. These charges included severance costs affecting approximately 200 employees. For the nine months, total restructuring charges amounted to $14.5 million, compared to $10.4 million in the previous year.
Dun & Bradstreet also amended its credit agreements, increasing its term loan facility to $3,103.6 million and extending the maturity date for its revolving facility to February 15, 2029. The company has initiated a stock repurchase program, authorizing the buyback of up to 10 million shares through April 30, 2027, with 961,360 shares repurchased for $9.3 million during the nine months ended September 30, 2024.
About Dun & Bradstreet Holdings, Inc.
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