Donnelley Financial Solutions, Inc. (NYSE:DFIN) reported its third-quarter 2026 financial results on October 29, 2026, disclosing a swing to net earnings of $21.3 million from a net loss of $40.9 million in the same period a year earlier.

Key Highlights

  • Total net sales: $185.0 million in Q3 2026, up $9.7 million, or 5.5%, from Q3 2025.
  • Net earnings: $21.3 million, or $0.85 per diluted share, compared to a net loss of $40.9 million, or $1.49 per diluted share, in Q3 2025.
  • Adjusted EBITDA: $54.4 million, up $4.9 million, or 9.9%, year over year; Adjusted EBITDA margin of 29.4%, up approximately 120 basis points.
  • Software solutions net sales: $95.2 million, representing 51.5% of total net sales, up 5.0% from Q3 2025.
  • Free Cash Flow: $85.8 million, an improvement of $26.6 million, or 44.9%, from Q3 2025.
  • Share repurchases: 146,672 shares repurchased for approximately $6.9 million at an average price of $46.98 per share; $118.5 million remaining on the $150 million authorization as of September 30, 2026.
  • Q4 2026 guidance: Total net sales of $175 million to $180 million, with Adjusted EBITDA margin of 26% to 27%.

Donnelley Financial Solutions Q3 2026 Revenue and Earnings Details

According to the filing, DFIN reported net sales of $185.0 million for the third quarter of 2026, driven primarily by an increase in software solutions net sales from ActiveDisclosure and higher capital markets transactional volumes. Software solutions net sales of $95.2 million accounted for 51.5% of total net sales. The company disclosed that ActiveDisclosure, described as a component of its compliance offerings, "grew approximately 24%" year over year as client adoption expanded and certain traditional services were migrated onto the platform.

The company reported net earnings of $21.3 million, or $0.85 per diluted share, for Q3 2026. The filing noted that net earnings included after-tax charges of $5.5 million, or $0.22 per diluted share, primarily related to share-based compensation expense. By comparison, the Q3 2025 net loss of $40.9 million included after-tax charges of $64.6 million, or $2.35 per diluted share, primarily related to a non-cash pension plan settlement charge and share-based compensation expense. Adjusted non-GAAP net earnings were $26.8 million, or $1.07 per diluted share, compared to $23.7 million, or $0.86 per diluted share, in Q3 2025.

The filing reported Operating Cash Flow of $98.2 million, an improvement of $23.8 million from Q3 2025, and Free Cash Flow of $85.8 million, up $26.6 million. Gross leverage stood at 0.5x and net leverage at 0.4x as of September 30, 2026, according to the filing. For Q4 2026, the company provided guidance of total net sales of $175 million to $180 million, an Adjusted EBITDA margin of 26% to 27%, and capital markets transactional net sales of $50 million. The filing noted that this guidance constitutes forward-looking statements and that actual results may differ materially, referring readers to its "Use of Forward-Looking Statements" section.

What Was Disclosed

DFIN filed an 8-K on October 29, 2026, disclosing Q3 2026 financial results including net sales of $185.0 million, net earnings of $21.3 million, Adjusted EBITDA of $54.4 million, and Q4 2026 guidance for net sales of $175 million to $180 million.