Donnelley Financial Solutions, Inc. (NYSE: DFIN) reported financial results for the third quarter ended September 30, 2026, showing a 5.5% increase in net sales to $185.0 million compared to the prior year period. The company reported GAAP net earnings of $21.3 million, or $0.85 per diluted share, a significant improvement from a net loss of $40.9 million, or $1.49 per diluted share, in the third quarter of 2025.
On a non-GAAP basis, Adjusted EBITDA for the quarter was $54.4 million, representing a margin of 29.4%, which is an increase of approximately 120 basis points from the prior year. Adjusted non-GAAP net earnings were reported at $26.8 million, or $1.07 per diluted share. The company generated $98.2 million in operating cash flow and $85.8 million in free cash flow, both of which increased year-over-year.
Software solutions net sales accounted for 51.5% of total net sales, increasing 5.0% year-over-year. The company noted that its ActiveDisclosure platform drove this growth, expanding client adoption and migrating services to the platform. As of September 30, 2026, the company’s gross leverage was 0.5x and net leverage was 0.4x.
During the quarter, DFIN repurchased 146,672 shares for approximately $6.9 million at an average price of $46.98 per share. As of the reporting date, $118.5 million remained on the company’s current $150 million share repurchase authorization.
Looking ahead to the fourth quarter of 2026, DFIN provided guidance for total net sales between $175 million and $180 million, with an Adjusted EBITDA margin of 26% to 27% and capital markets transactional net sales of $50 million.
