I have been discussing Cimpress plc (NASDAQ: CMPR ) in the past, and you can read my previous article published on July 5, 2024. The company is looking to introduce new products I have more than 14 years of experience in analyzing and writing on stocks. I write on both long and short sides in an unbiased manner. I have been covering the energy sectors for the past 7 years, with the primary focus on the oilfield equipment services sector. I also cover the Industrial Supply industry. I occasionally co-author ...

Cimpress plc (CMPR) is witnessing solid momentum across its Vista, National Pen and Upload & Print segments. Significant growth in the e-commerce channels is driving the National Pen segment while increasing order rates is proving beneficial for the Upload & Print segment. The company's focus on improving the customer experience and new product introductions are aiding its Vista segment. In the fourth quarter of fiscal 2024, (ended June 30, 2024) the Vista segment's revenues grew 8% year over year. In the s ...

Cimpress plc (CMPR) recently completed its earlier announced private offering of senior notes worth $525 million in aggregate principal amount. CMPR's shares lost 0.4% on the last trading day to eventually close the trading session at $81.84. Inside the Headlines The senior notes carry an interest rate of 7.375% and are scheduled to mature in 2032. The notes are priced at 100% of the principal amount. Interest on the notes will be paid on a semi-annual basis. Along with the senior notes offering, Cimpress r ...

Cimpress plc (CMPR) recently priced its earlier announced private offering of senior notes worth $525 million in aggregate principal amount. The offering comprises 7.375% senior notes due to expire in 2032. It is worth mentioning here that the company's shares lost 0.4% yesterday, ending the trading session at $79.94. Inside the Headlines As communicated by the company, the notes have been priced at 100% of the principal amount. Interest rates on the notes will be paid semi-annually. Subject to customary co ...

Cimpress plc (CMPR) announced that it has commenced the offering of senior notes worth $525 million in aggregate principal amount. The senior notes due in 2032 will be offered through private placement. It is worth mentioning here that the company's shares lost 4.1% yesterday, ending the trading session at $80.23. Inside the Headlines With the completion of the notes offering, CMPR plans to amend its existing credit agreement by extending its revolving credit facility's maturity and adjusting the interest r ...

Cimpress plc (CMPR) is benefiting from strength across its Vista, National Pen and Upload & Print segments. The company's investment in technology and product innovation, along with increased orders and higher average order values, bodes well. Improvements in customer experience and new product introductions are aiding its Vista segment. Also, an increase in the customer count, along with the continued increase in revenue per customer, bodes well for the segment. Significant growth in the e-commerce channel ...

财务业绩 - 报告期内收入增长7%至32.92亿美元[194] - 有机恒定货币收入增长5%[194] - 营业利润增加1.9亿美元至2.47亿美元[197] - 调整后EBITDA增加1.29亿美元至4.69亿美元[194] - 每股摊薄净收益由亏损7.08美元转为盈利6.43美元[195] - 经营活动产生的现金流量增加2.2亿美元至3.51亿美元[200] - 调整后自由现金流量增加2.38亿美元至2.61亿美元[201] - 公司2024财年营收为32.92亿美元，同比增长7.0%[336] - 公司2024财年毛利为15.97亿美元，毛利率为48.5%[336] - 公司2024财年净利润为1.74亿美元，同比大幅改善[336] - 公司2024财年每股收益为6.43美元，同比大幅改善[336] 分部业绩 - Vista业务收入增长7%,主要由新老客户增加和客户收入提高带动[196] - Vista业务收入为17.42亿美元，同比增长8%，EBITDA为3.28亿美元，同比增长47%[231,232,233,234] - PrintBrothers业务收入为6.38亿美元，同比增长10%，EBITDA为8,988万美元，同比增长27%[235,237,238] - The Print Group业务收入为3.59亿美元，同比增长3%，EBITDA为7,057万美元，同比增长17%[239,240] - National Pen分部收入增长5%(不含汇率影响),主要来自电子商务和电话销售渠道的强劲增长[245] - National Pen分部EBITDA增加主要由于收入增长和长期激励补偿费用减少[246] - 所有其他业务分部收入增长1%(不含汇率影响),BuildASign业务增长抵消了房地产相关产品和家居装饰产品的下降[251] 成本费用 - 营业利润增加主要得益于毛利增加1.58亿美元,以及营业费用效率提高和重组成本下降[197] - 科技和开发费用为3.22亿美元，占收入的9.8%[212] - 营销和销售费用为7.90亿美元，占收入的24.0%[212] - 一般和行政费用为2.06亿美元，占收入的6.2%[212] - 收购无形资产的摊销费用为3,144万美元，占收入的1.0%[212] - 重组费用为42.3万美元，占收入的0.0%[212] - 中央和公司成本增加1180万美元,主要由于股份支付费用增加2050万美元,部分被现金薪酬和咨询费用下降所抵消[254] - 公司股份支付费用为6558万美元,较上年同期增加65.4%[298,299] 现金流与资产负债 - 经营活动产生的现金流量增加2.2亿美元至3.51亿美元[200] - 调整后自由现金流量增加2.38亿美元至2.61亿美元[201] - 公司使用1.57亿美元回购普通股,并支付2450万美元购买部分2026年到期票据[260,261] - 公司在过去一年大幅降低了净负债,未来将继续利用盈利能力增强的现金流偿还债务[265] - 公司有其他债务9.8百万美元,需要在2027年9月之前分期偿还[277] - 公司租赁设施、机器和设备,租赁资产的账面价值为26.0百万美元,租赁负债为36.4百万美元[278] - 公司2024年6月30日现金及现金等价物为2.04亿美元，较上年同期增加56.5%[335] - 公司2024年6月30日总资产为18.92亿美元，较上年同期增加2.0%[335] - 公司2024年6月30日总负债为24.19亿美元，较上年同期减少1.9%[335] - 公司2024年6月30日股东权益为-5.50亿美元，较上年同期改善11.7%[335] - 公司2024年6月30日每股净资产为-22.00美元，较上年同期改善11.7%[335] 其他 - 公司分部EBITDA增加主要由于毛利增长,受益于原材料、能源和运输成本下降带来的毛利率扩张[242] - 公司调整后EBITDA为4.69亿美元,较上年同期增长37.8%[284,285] - 公司调整后自由现金流为2.61亿美元,较上年同期大幅增长[287,288] - 公司收入主要来自定制产品销售,并提供少量数字服务和其他第三方服务[290,293,294] - 公司提供销售退货保证,并根据历史经验计提相关准备[291,292] - 公司将商誉分配至各报告单元，并定期评估商誉及无限使用年限无形资产是否存在减值[306,307,308] - 公司定期评估有限使用年限长期资产的可收回性，如有减值迹象则进行减值测试[309] - 公司面临利率风险主要来自于现金及债务,通过利率互换合同来降低利率变动风险[311,312,313] - 公司面临汇率风险主要来自于外币收支、资产负债的折算以及货币性资产负债的重新计量,通过衍生工具进行套期保值[314,315,316,317,318,319] - 公司2024年6月30日商誉余额为7.87亿美元,其中BuildASign报告单元的商誉进行了减值测试,结果显示无需计提减值[331,332]

财务数据和关键指标变化 - 2024财年第四季度合并收入同比增长6%,全年收入同比增长7% [8] - 2024财年第四季度调整后EBITDA同比增长5百万美元至1.19亿美元,全年调整后EBITDA同比增长1.29亿美元至4.69亿美元,增长38% [9][10] - 2024财年全年调整后EBITDA利润率提升超过300个基点至14.2% [11] - 2024财年第四季度调整后自由现金流为1.17亿美元,全年为2.61亿美元,创历史新高 [15][16] 各条业务线数据和关键指标变化 - Vista业务连续6个季度客户数增长,客户价值持续提升 [13][14] - 国民笔业务广告投放有所减少,但大幅提升了盈利能力 [12] - 印刷集团业务受到渠道商转向直销的挑战,但公司正在采取措施提升渠道商的竞争力 [28][29][30][31] 各个市场数据和关键指标变化 - 无具体披露 公司战略和发展方向及行业竞争 - 公司正加大资本支出投入,主要用于提升生产制造和供应链优势,以增强运营执行能力 [33][34][35][36][37] - 公司财务和运营实力较过去数年更加雄厚,为未来发展奠定了坚实基础 [34] - 公司正在持续优化组织架构和决策流程,提高投资决策的数据驱动能力和问责制 [47][48][49][50][51][52] 管理层对经营环境和未来前景的评论 - 公司对未来保持乐观,预计未来几年有机收入和调整后EBITDA将保持中单位数增长 [18] - 公司将继续执行既定的财务政策,维持合理的财务杠杆水平 [37][41] 其他重要信息 - 公司将于9月10日举行虚拟投资者日,届时将提供更多战略进展的细节 [56] 问答环节重要的提问和回答 问题1 **提问内容** 公司第四季度调整后EBITDA同比增长的具体情况,需要剔除汇率、一次性因素等影响 [21] **回答内容** - 汇率因素对第四季度EBITDA产生3.1百万美元的负面影响 [23][24] - 去年第四季度Vista业务存在3百万美元的一次性利益,今年未出现 [24] - 第四季度广告投放同比增加9百万美元,主要来自Vista业务 [25][26] - 剔除上述因素影响,公司第四季度调整后EBITDA的实际增长高于报告数字 [26] 问题2 **提问内容** 印刷集团业务渠道商挑战的原因及应对措施 [27] **回答内容** - 公司并未发现竞争对手"吃掉"公司的市场份额,这是行业性的长期趋势 [28][29][30] - 直销电商模式持续增长,导致渠道商业务受到一定挤压,但公司仍在努力提升渠道商的竞争力 [28][29][30][31] - 公司最大的印刷业务已经主要面向终端客户,受此影响较小 [29][30] 问题3 **提问内容** 为何现在是加大资本支出的合适时机 [32] **回答内容** - 过去2年公司专注于运营执行,现在是加强制造和供应链优势的时机 [33][34][35] - 公司财务和运营实力较过去更加雄厚,为此次投资奠定了基础 [34] - 新设备市场竞争激烈,公司可获得高效且具吸引力的设备 [36] - 公司将在维持合理财务杠杆的前提下进行这些投资 [37]

Cimpress plc (CMPR) reported fourth-quarter fiscal 2024 (ended Jun 30, 2024) adjusted earnings of $4.33 per share, which beat the Zacks Consensus Estimate of 77 cents. The company reported adjusted earnings of $1.08 per share in the year-ago quarter. Top-Line Details Total revenues were $832.6 million, reflecting an increase of 5.6% from $788.8 million in the year-ago quarter. The organic constant-currency revenue growth was 6% year over year, driven by growth in each of its businesses. The top line was in ...

For the quarter ended June 2024, Cimpress (CMPR) reported revenue of $832.61 million, up 5.6% over the same period last year. EPS came in at $4.33, compared to $1.08 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $832.9 million, representing a surprise of -0.04%. The company delivered an EPS surprise of +462.34%, with the consensus EPS estimate being $0.77. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how t ...