Consensus Cloud Solutions, Inc. shared their financial results for the second quarter of 2024. The CEO, Scott Turicchi, expressed satisfaction with the company’s performance during this period. Both Corporate and SoHo revenues exceeded expectations, leading to a net income margin of 27.3% and an impressive Adjusted EBITDA margin of 56.1%. Despite it being a seasonally light quarter, with interest payments on their debt, the company still managed to generate $24 million in cash flows from operations and $16 million in Free cash flow. In addition, they were able to repurchase around $30 million principal amount of their bonds in the quarter.
Turicchi also highlighted the progress the company has made in reducing their debt, amounting to approximately $156 million since November 2023. This reduction puts them on track towards achieving their leverage goal.
Looking ahead, Consensus Cloud Solutions, Inc. provided guidance for the third quarter of 2024 and raised their full-year Adjusted EPS. Investors can expect continued strong performance from the company as they focus on sustaining their growth trajectory.
Overall, the second quarter of 2024 proved to be a successful period for Consensus Cloud Solutions, Inc. as they managed to surpass expectations and make significant strides in debt reduction. With a clear strategic direction and a commitment to financial stability, the company is poised for continued success in the upcoming quarters.
