Donnelley Financial hits one-year low after downbeat Q1 forecast

Donnelley Financial Solutions

18/02/2025 16:54

** Shares of financial compliance firm Donnelley Financial
Solutions  DFIN.N  plunge as much as 18.4%, hitting their lowest
since November 2023; last down 17.1% at $54.59
    ** DFIN expects Q1 net sales between $190 million and $200
million, compared with Wall Street expectations of $208.2
million, according to estimates compiled by LSEG
    ** CFO Dave Gardella told analysts the firm expects
macroeconomic headwinds, market volatility and geopolitical
factors to continue to weigh on deal activity 
    ** Q4 net sales fell 11.4% to $156.3 million, missing
analysts' expectations of $169.2 million
    ** The sales were hit by a decline in secondary and
follow-on stock offerings, limited market activity in the Asia
Pacific region, and the firm deprioritizing certain "lower
quality" blank-check deals, Gardella said

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))