The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Kartik Mehta - Northcoast Research Partners, LLC - Analyst
: Good evening, Barry, maybe just your thoughts on the merchant business. Maybe just the fundamentals within the business, what you think is
going well and maybe areas you'll focus on in 2025. Now that there's a new leader for the business.
Question: Kartik Mehta - Northcoast Research Partners, LLC - Analyst
: And Chip, you're going to see significant improvement in free cash flow 2025 versus 2024. Kind of just walking through the primary drivers, if there's
any one time benefits or this is just a reflection of better operating results?
Question: Kartik Mehta - Northcoast Research Partners, LLC - Analyst
: And just one last question, I think Chip you mentioned on the print business, there's obviously a little bit more competition that low margin business.
I know in the past you've always said that the product you'd like to offer because it's something that your customers want. Is there anything you
can do to help offset the pressure or is this just something you have to kind of accept because it's a full, you want to provide a full scale product
to your customers.
Question: Kartik Mehta - Northcoast Research Partners, LLC - Analyst
: Perfect. Thank you. I really appreciate it.
Question: Jonathan Navarat - TD Cowen - Analyst
: Hey, guys. It's Jonathan on for Lance. I'll start off with just any thoughts on tariffs. Do you guys have any tariff related headwinds that can impact
your supply chain, particularly for materials used in print or perhaps technology components in merchant services?
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FEBRUARY 05, 2025 / 10:00PM, DLX.N - Q4 2024 Deluxe Corp Earnings Call
Question: Jonathan Navarat - TD Cowen - Analyst
: Got it. Thanks. And my last one is just how much pricing flexibility do you have in the merchant business? And can you maybe break down how
much of the growth in 2025 is likely to come from pricing versus volume?
Question: Jonathan Navarat - TD Cowen - Analyst
: Great. Thank you.
Question: Charlie Strauzer - CJS Securities - Analyst
: Hi, good evening.
Just given the kind of outperformance in data, maybe you can, Barry, can you give us some examples of incremental revenue wins in that segment
that helped drive the upside?
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FEBRUARY 05, 2025 / 10:00PM, DLX.N - Q4 2024 Deluxe Corp Earnings Call
Question: Charlie Strauzer - CJS Securities - Analyst
: Excellent. Thanks, Barry. And just maybe talk a little bit about the 2026 goals. You talked about in the past about merchant services, needing
essentially driving high single digit revenue CAGR through 2026. Can you talk about some of the drivers behind those numbers as well?
Question: Charlie Strauzer - CJS Securities - Analyst
: And just one for Chip, if I could. Chip, how should we think about the cadence of quarterly results through the year given your initial guidance?
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FEBRUARY 05, 2025 / 10:00PM, DLX.N - Q4 2024 Deluxe Corp Earnings Call
Question: Marc Riddick - Sidoti & Company, LLC - Analyst
: A good evening. Hey, wanted to check to see if there were any thoughts or anything that you saw as far as client demand changes following the
presidential election and then whether or not you've seen any initial green shoots of business confidence and if so, if there are any particular
verticals that stood out since the election?
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FEBRUARY 05, 2025 / 10:00PM, DLX.N - Q4 2024 Deluxe Corp Earnings Call
Question: Marc Riddick - Sidoti & Company, LLC - Analyst
: Great. And then you made mention that you prepared remarks about new products and feature introductions for across the enterprise including
DLX pay. And I wanted to just sort of get your thoughts as to the potential cadence going through this coming year of continuing that? Or are
there any particular areas that you think might be right for additional innovation, whether it's customer facing or internal efficiency driven?
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