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Diebold Nixdorf Inc. suffered lower revenues in the second quarter of 2022, primarily due to the foreign currency translation impact of the decline in the value of the Euro against the US dollar and longer delivery times. long resulting from global supply chain and logistics issues, according to a press release.

Highlights include:

  • Net sales decreased 9.7% from $943.5 million in the second quarter of 2021 to $851.7 million for the quarter ending June 30, 2022 on a GAAP basis. Net sales decreased 10.3% from $943.5 million to $846 million on a non-GAAP basis.
  • Net loss increased from $30.3 million to $199.1 million on a GAAP basis for the comparative quarters, while net income increased from $8 million to $31.6 million on a non-GAAP.
  • Diluted loss per share increased from 39 cents to $2.52 on a GAAP basis while diluted earnings per share increased from 10 cents to 38 cents on a non-GAAP basis.
  • Banking revenues decreased by 3.1%, from $638.5 million to $590.2 million. DN Series ATMs are now operational in over 90 countries with over 570 certifications. The phase-out of legacy devices continues, with DN-series coin acceptors accounting for 82% of new bank orders in North America.
  • Retail revenue fell 5.5% from $305 million to $261.5 million. Self-service payment products continue to drive retail, with these solutions growing faster than the market, especially in Europe.

The shares traded today at $4.60 against a 52-week range of $2.13-$11.90.

The $846 million in non-GAAP quarterly revenue beat analysts’ expectations of $40.96 million, according to Seeking Alpha.

“In my first full quarter as CEO, we delivered on our prior commitments with sequential quarter-over-quarter improvement on a number of key metrics,” Octavio Marquez, chairman and CEO, said in the press release. “Over the past few weeks, our business has worked quickly to take significant steps to become more agile and better equipped to meet challenges in a challenging macro environment. We recently implemented a new, streamlined operating model that will help us improve our financial performance, enhance customer service and set us on the path to a stronger future.”

The company revised its full-year revenue outlook from $3.7 billion – $3.9 billion to $3.55 billion – $3.7 billion.