What's Going On With Diebold Nixdorf Shares Today - Diebold Nixdorf (NYSE:DBD)

Diebold Nixdorf Inc DBD reported a first-quarter FY21 sales decline of 12.1% year-on-year to $829.8 million, missing the consensus of $925.12 million.
Revenue from Eurasia Banking decreased 15.2% to $277.9 million, Americas Banking fell 8.6% to $284.8 million, and Retail declined 12.3% to $267.1 million.
The gross profit declined 32.2% Y/Y to $185.3 million, with the margin shrinking 660 basis points to 22.3%.
Adjusted operating loss for the quarter was $(7.3) million.
The company held $266.8 million in cash and equivalents as of March 31, 2022.
Adjusted EBITDA fell 90.6% Y/Y to $9.4 million.
Adjusted EPS loss of $(1.61) missed the analyst consensus of $(0.20).
"We expect to see significant cost savings of more than $150 million over the next 12 to 18 months and a return to our original financial growth, profitability, and free cash flow targets by 2024," said CEO Octavio Marquez.
Outlook: Diebold Nixdorf has cut FY22 sales guidance to $3.7 billion - $3.9 billion from $4.0 billion - $4.2 billion, versus the consensus of $4.04 billion.
The company expects FY22 adjusted EBITDA of $320 million - $350 million (prior view $440 million - $460 million).
Price Action: DBD shares are trading lower by 30.4% at $2.66 on the last check Tuesday.