The in-line quarter and reaffirmed guidance suggest no immediate catalyst for a significant move. Monitor the Q3 earnings call for updates on free cash flow trajectory and German tax cash outflow impact, as well as order backlog conversion in Banking.
Price Chart
Executive Summary
Diebold Nixdorf reported Q2 2026 GAAP EPS of $0.44 (up 33% YoY) and adjusted EPS of $1.10, which was in line with consensus. Revenue grew 1.7% YoY to $930.8M, slightly above the $926.2M estimate. Adjusted EBITDA grew 8.5% YoY to $120.6M with margin expanding 80bps to 13.0%. The company reaffirmed its full-year 2026 outlook, signaling confidence despite a negative free cash flow quarter due to inventory build and German tax payments.
Key Financial Metrics
Key Facts
- GAAP EPS of $0.44 vs $0.33 YoY (+33%)
- Adjusted EPS of $1.10, in line with consensus of $1.10
- Revenue of $930.8M (+1.7% YoY), slightly above $926.2M consensus
- Adjusted EBITDA of $120.6M (+8.5% YoY), margin expanded 80bps to 13.0%
- Full-year 2026 guidance reaffirmed: Revenue $3.86B-$3.94B, Adj. EBITDA $510M-$535M, Adj. EPS $5.25-$5.75
- GAAP net income grew 28% YoY to $16.2M
- Retail revenue grew >20% YoY for second consecutive quarter
- Operating cash flow was -$13.6M; free cash flow (ex-disc. tax) was -$11.0M, driven by inventory build
- Repurchased ~$60M in shares during Q2; ~$57M remaining on $200M buyback program
- Net debt increased to $689.3M from $554.3M at year-end 2025
Financial Impact
In-line quarter with reaffirmed guidance; modest revenue beat offset by negative free cash flow and rising net debt
Risk Factors
- Negative free cash flow in Q2 driven by inventory build to support demand
- German tax payments expected to total ~$50M in 2026, pressuring cash flow
- Net debt increased to $689.3M from $554.3M at year-end 2025
- Banking revenue declined 0.8% YoY on a GAAP basis
- Services gross margin contracted 50bps YoY on a GAAP basis
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000028823-26-000031 |
| Document: dbd-20260729.htm | 0000028823-26-000031 |
| Document: 0000028823-26-000031-index-headers.html | 0000028823-26-000031 |
| Document: 0000028823-26-000031-index.html | 0000028823-26-000031 |
| Document: 0000028823-26-000031.txt | 0000028823-26-000031 |
| 8-K Data (Synthetic) | 0000028823-26-000031 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 4w ago | Institutional Cluster | $64.39 | awaiting T+60 | — | $67.54 (+4.88%) |
Jul 29, 2026 12w ago | 8-K | $75.17 $69.26 | ▼ −7.86% | ▼ −12.59% | $67.54 (−10.16%) |
May 27, 2026 21w ago | Insider Cluster | $81.04 $69.94 | ▼ −13.70% | ▼ −15.43% | $67.54 (−16.66%) |
May 22, 2026 22w ago | Insider Cluster | $79.43 $67.42 | ▼ −15.12% | ▼ −17.84% | $67.54 (−14.98%) |
Mar 30, 2026 30w ago | Court Ruling | $73.60 $84.56 | ▲ +14.89% | ▼ −1.60% | $67.54 (−8.24%) |
Feb 25, 2026 34w ago | 8-K | $83.05 $72.40 | ▼ −12.82% | ▼ −20.57% | $67.54 (−18.68%) |
US Market Status
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