NASDAQ$CMPR
Cimpress Plc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Achieved strong financial results driven by revenue growth, gross margin expansion, advertising leverage, and reduced operating expenses.
Cimpress' Q2 2024 results showed strong revenue growth of 9% and significant improvements in profitability and cash flow, leading to increased expectations for fiscal 2024.
- Consolidated revenue grew 9% on a reported basis and 6% on an organic constant-currency basis.
- Consolidated operating income increased $74.1 million year over year to $107.7 million.
- Adjusted free cash flow increased $96.2 million year over year to $150.0 million.
- Liquidity position is strong with cash and marketable securities of $291.4 million.
Headline financials
Revenue & EPS history
Cimpress · Revenue · Quarterly
$921M
Revenue by segment
Cimpress · $355M total across 4 segments · Q3 2023
- PrintBrothers$140M+16.3%39.3%
- The Print Group$85.5M+13.5%24.1%
- National Pen$81.1M+12.3%22.8%
- All Other Businesses$49M+1.1%13.8%
Forward guidance
Cimpress increased its FY2024 operating income guidance from at least $206 million to at least $230 million and increased adjusted EBITDA guidance from at least $425 million to at least $455 million.
Tailwinds
- Expects consolidated FY2024 reported revenue growth of at least 7%.
- Expects organic constant-currency revenue growth of at least 5%.
- Expects an additional year-over-year benefit of approximately $25 million from March 2023 cost reductions in Q3 FY2024.
- Expects adjusted EBITDA to convert to adjusted free cash flow at approximately 45%, an increase from 40% in prior guidance.
- Board has authorized the repurchase of up to $150 million of Cimpress shares.
Headwinds
- Revenue growth in Upload & Print and BuildASign in the first half of the year has been slower than planned and is expected to continue for the remainder of the fiscal year.
- Continues to expect a negative year-over-year impact from currency on our full-year adjusted EBITDA of about $20 million.
- Expects approximately $8.5 million of negative currency impact in the second half of FY2024.
- Will be lapping stronger adjusted EBITDA performance, particularly in Vista, as compared to the first half of last year.
- Any share repurchases in the remainder of this fiscal year will be done with the expectation of exiting FY2024 with net leverage at or below approximately 3.0x trailing-twelve-month EBITDA.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-0.6%
Avg return
Earnings day
-0.9%
Avg return
5 days after
+1.3%
Avg return
30 days after
49%
33 / 67 earnings
Positive
+24.2%
Q4 2020
Best reaction
-29.1%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +8.6% | +12.8% | +21.0% | |
| Q2 2026 | +0.3% | -1.7% | -6.2% | |
| Q1 2026 | +11.1% | -1.0% | +3.1% | |
| Q3 2025 | -6.6% | -4.6% | +5.3% | |
| Q2 2025 | -5.5% | -18.4% | -35.2% | |
| Q1 2025 | -8.7% | -2.6% | +6.2% | |
| Q4 2024 | +4.7% | -8.8% | +8.3% | |
| Q3 2024 | -3.1% | -2.2% | -3.2% | |
| Q2 2024 | +17.2% | +15.3% | +27.6% | |
| Q1 2024 | -2.3% | -5.5% | +14.1% | |
| Q4 2023 | +6.3% | +8.5% | -2.1% | |
| Q3 2023 | +20.1% | +17.2% | +13.0% | |
| Q2 2023 | -9.3% | -6.2% | +0.3% | |
| Q1 2023 | -16.0% | +1.4% | +21.7% | |
| Q4 2022 | +14.2% | +13.6% | +5.9% | |
| Q3 2022 | -7.7% | -9.6% | -20.9% | |
| Q2 2022 | -6.6% | -6.5% | -13.5% | |
| Q1 2022 | -1.3% | +2.0% | -12.6% | |
| Q4 2021 | -9.9% | -10.6% | -18.7% | |
| Q3 2021 | +0.2% | +2.3% | +3.5% | |
| Q2 2021 | +6.4% | -10.9% | -4.0% | |
| Q1 2021 | -3.1% | -2.2% | +18.5% | |
| Q4 2020 | +24.2% | +17.9% | +15.1% | |
| Q3 2020 | +4.5% | +3.6% | +13.4% | |
| Q2 2020 | -3.9% | -3.4% | -0.5% | |
| Q1 2020 | +1.6% | +7.8% | -1.4% | |
| Q4 2019 | +8.8% | +7.9% | +20.7% | |
| Q3 2019 | -5.1% | -4.3% | -3.2% | |
| Q2 2019 | -29.1% | -29.8% | -29.7% | |
| Q1 2019 | -10.4% | -10.4% | -3.1% | |
| Q4 2018 | -2.2% | +0.5% | -4.2% | |
| Q3 2018 | -1.3% | -2.9% | -1.9% | |
| Q2 2018 | +16.5% | +21.8% | +22.5% | |
| Q1 2018 | +7.7% | +8.9% | +11.8% | |
| Q4 2017 | -5.1% | -3.9% | -2.0% | |
| Q3 2017 | -1.3% | -3.8% | +4.5% | |
| Q2 2017 | -11.5% | -12.5% | -14.9% | |
| Q1 2017 | -13.0% | -13.0% | -9.5% | |
| Q4 2016 | -2.8% | -0.5% | +2.4% | |
| Q3 2016 | -6.9% | — | — | |
| Q2 2016 | +4.2% | — | — | |
| Q1 2016 | +2.9% | — | — | |
| Q4 2015 | -16.3% | — | — | |
| Q3 2015 | +1.3% | — | — | |
| Q2 2015 | +10.1% | — | — | |
| Q1 2015 | +2.8% | — | — | |
| Q4 2014 | +1.3% | — | — | |
| Q3 2014 | -27.8% | — | — | |
| Q2 2014 | -4.1% | — | — | |
| Q1 2014 | +2.7% | — | — | |
| Q4 2013 | -3.1% | — | — | |
| Q3 2013 | +1.2% | — | — | |
| Q2 2013 | -8.8% | — | — | |
| Q1 2013 | -0.7% | — | — | |
| Q4 2012 | +5.4% | — | — | |
| Q3 2012 | -12.8% | — | — | |
| Q2 2012 | +8.2% | — | — | |
| Q1 2012 | -7.1% | — | — | |
| Q4 2009 | -5.5% | — | — | |
| Q4 2011 | -5.5% | — | — | |
| Q3 2010 | +1.4% | — | — | |
| Q3 2011 | +1.4% | — | — | |
| Q2 2011 | +7.9% | — | — | |
| Q1 2010 | +4.9% | — | — | |
| Q1 2011 | +4.9% | — | — | |
| Q4 2010 | +4.9% | — | — | |
| Q2 2010 | +4.9% | — | — |
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