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    Kyle Peterson • Needham & Company

    Kyle Peterson's questions to Donnelley Financial Solutions Inc (DFIN) leadership

    Kyle Peterson's questions to Donnelley Financial Solutions Inc (DFIN) leadership • Q4 2024

    Question

    Kyle Peterson of Needham & Company inquired about the duration of the de-SPAC headwind, the expected decline rate for print revenue in 2025, and the capital allocation plan, including an update on the pension termination.

    Answer

    Executive Craig Clay stated that DFIN is at the "tail end" of the de-SPAC cycle and is now strategically avoiding low-quality deals to manage risk. Executive David Gardella clarified that while the underlying secular decline in print is mid-single-digits, event-driven projects cause significant volatility. Gardella also confirmed the capital allocation strategy remains focused on organic investments, buybacks, and debt reduction, with the pension termination still planned for year-end 2025.

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    Kyle Peterson's questions to Alight Inc (ALIT) leadership

    Kyle Peterson's questions to Alight Inc (ALIT) leadership • Q3 2024

    Question

    Kyle Peterson inquired about the capital allocation strategy, specifically how the new dividend initiation affects the approach to share buybacks. He also asked for CEO David Guilmette's key takeaways from client conversations in his first few months.

    Answer

    CEO David Guilmette affirmed the capital allocation strategy is unchanged, with a commitment to return capital via both the new dividend and share repurchases, supported by confidence in the free cash flow profile. He also shared that client conversations are resonating around Alight's ability to 'nail the basics' and use its integrated platform to improve employee engagement. CFO Jeremy Heaton noted the company still has $93 million in its buyback authorization.

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