# Donnelley Financial Solutions Sets Q4 Sales Range at $175 Million to $180 Million

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/43965
Published: 2026-10-29T22:30:23.000Z
Updated: 2026-10-29T22:30:23.000Z
Section: Business

> The outlook assumes $50 million in capital-markets transactional sales and a 26% to 27% adjusted EBITDA margin.

Donnelley Financial Solutions, Inc. (DFIN) expects fourth-quarter net sales of $175 million to $180 million and a 26% to 27% adjusted EBITDA margin, including $50 million in capital-markets transactional sales.

The projected margin range is below the company’s third-quarter adjusted EBITDA margin of 29.4%. Third-quarter results also included 5.5% sales growth. ActiveDisclosure grew about 24% and exceeded $100 million in revenue over the trailing four quarters.

The fourth-quarter outlook assumes somewhat stronger initial public offering activity than in Q3 and similar merger and acquisition activity. Management cited softer international performance, particularly in Europe, the Middle East and Africa, as well as a softer U.S. market for new-equity issuance.

Management expects software growth to continue and plans to accelerate the shift of traditional services to software as a service. The company also expects the impact of pending e-delivery regulation to come closer to 2028 under a typical phase-in.