Donnelley Financial Solutions, Inc. (NYSE:DFIN) Q2 2024 Earnings Conference Call July 31, 2024 9:00 AM ET

Company Participants

Mike Zhao – Head-Investor Relations
Dan Leib – Chief Executive Officer
Dave Gardella – Chief Financial Officer
Craig Clay – President-Global Capital Markets

Conference Call Participants

Charles Strauzer – CJS Securities
Peter Heckmann – D.A. Davidson
Kyle Peterson – Needham
Raj Sharma – B. Riley & Company

Operator

Thank you for standing by. My name is Aimee and I will be your conference operator for today. At this time I would like to welcome everyone to the Donnelley Financial Solutions Second Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise.

It is now my pleasure to turn the call over to Mike Zhao, Head of Investor Relations. You may begin.

Mike Zhao

Thank you. Good morning, everyone, and thank you for joining Donnelley Financial Solutions' second quarter 2024 results conference call. This morning we have released our earnings report, including a supplemental trending schedule of historical results, copies of which can be found in the Investors section of our website at dfinsolutions.com. During this call, we will refer to forward-looking statements that are subject to risks and uncertainties. For a complete discussion, please refer to the cautionary statements included in our earnings release and further details in our most recent annual report on Form 10-K, quarterly report on Form 10-Q and other filings with the SEC.

Further, we will discuss certain non-GAAP financial information, such as adjusted EBITDA, adjusted EBITDA margin and organic net sales. We believe the presentation of non-GAAP financial information provides you with useful supplementary information concerning the company's ongoing operations and is an appropriate way for you to evaluate the company's performance. They are, however, provided for informational purposes only. Please refer to the earnings release and related tables for GAAP financial information and reconciliations of GAAP to non-GAAP financial information. I am joined this morning by Dan Leib, Dave Gardella, and other members of management.

I will now turn the call over to Dan.

Dan Leib

Thank you Mike, and good morning everyone. I am pleased with our second quarter operating performance. We delivered strong results including improved revenue performance, record quarterly adjusted EBITDA and adjusted EBITDA margin, as well as increases in both operating cash flow and free cash flow. Our second quarter performance highlights the continued progress we are making in our transformation and positions us well to achieve our long-term financial targets. We continue to make progress against a number of the objectives that underpin our long-term plan that we communicated earlier this year.