Deluxe's operating profit for Q3 2024 was $10.47 million, which is a decrease from the $11.68 million reported in the same period the previous year1. Therefore, it is inaccurate to say that Deluxe's operating profit surged in Q3 2024.
However, if you are interested in the reasons behind this decrease, here are some possible explanations:
- Revenue Decline: Total revenue for the quarter was $528.44 million, compared to $535.00 million in the same quarter the previous year2. This decline in revenue could be a contributing factor to the decrease in operating profit.
- Cost Control: Despite the revenue decline, Deluxe has seen improvements in operating results and lower restructuring spend, as reported in the second quarter of 20243. It is possible that the cost control measures implemented by Deluxe have helped mitigate the impact of the revenue decline on operating profit.
In conclusion, Deluxe's operating profit did not surge in Q3 2024, and the decrease can be attributed to a combination of factors including revenue decline and cost control measures.
DLX Total Revenue YoY, Total Revenue