Diebold Nixdorf Falls After Citing Near-Term Liquidity Pressure

Diebold Nixdorf fell in extended trading after the company said in a lender presentation that it’s facing “near-term pressure on liquidity.”

• Says has continued to operate manufacturing facilities to fulfill existing orders and is currently procuring for 2Q given lead times, resulting in a “steady use of cash” to achieve the demand plan/production forecast
• Notes “slower-than-expected” conversion of inventory into revenue
• 4Q and January realized revenue and adjusted Ebitda were below expectations
• Says ABL borrowing base availability below expectations
• Says would like to discuss with lenders a going-concern waiver, immediate solutions to achieve temporary incremental liquidity and long-term considerations regarding ...