Business
CSG Systems International Reports Fourth Quarter and Full Year 2023 Results
Achieved or Exceeded All 2023 Financial Guidance Targets 2023 Organic Revenue Grew 7.3% YoY; CSG’s Best Annual Results in Nearly Two Decades Dividend Payout
About this update from Csg Systems International, Inc.
[{"type":"text","content":"\nAchieved or Exceeded All 2023 Financial Guidance Targets\n\n\n2023 Organic Revenue Grew 7.3% YoY; CSG’s Best Annual Results in Nearly Two Decades\n\n\nDividend Payout Increased 7% in 2024; Marks 11th Consecutive Year of Increased Payout\n\n\nReturned Over $150 Million to Shareholders in 2023 including $117 Million of Share Repurchases\n\n\nQ4 Operating Cash Flow of $80 Million with Record Quarterly Non-GAAP Free Cash Flow of $74 Million\n\n\n DENVER--(BUSINESS WIRE)--\nCSG (NASDAQ: CSGS) today reported results for the quarter and year ended December 31, 2023.\n\n\nFinancial Results:\n\n\nFourth quarter 2023 financial results:\n\n\n\nTotal revenue was $297.3 million.\n\n\n\nGAAP operating income was $24.7 million, or an operating margin of 8.3%, and non-GAAP operating income was $44.1 million, or a non-GAAP adjusted operating margin of 16.1%.\n\n\n\nGAAP earnings per diluted share (EPS) was $0.44 and non-GAAP EPS was $0.92.\n\n\n\nCash flows from operations were $79.5 million, with non-GAAP free cash flow of $74.5 million.\n\n\n\nFull year 2023 financial results:\n\n\n\nTotal revenue was $1.17 billion.\n\n\n\nGAAP operating income was $123.9 million, or an operating margin of 10.6%, and non-GAAP operating income was $185.7 million, or a non-GAAP adjusted operating margin of 17.2%.\n\n\n\nGAAP EPS was $2.20 and non-GAAP EPS was $3.69.\n\n\n\nCash flows from operations were $131.9 million, with non-GAAP free cash flow of $103.9 million.\n\n\n\nShareholder Returns:\n\n\n\nIn November 2023, CSG declared its quarterly cash dividend of $0.28 per share of common stock, or a total of approximately $8 million, to shareholders, bringing total 2023 dividends to approximately $34 million.\n\n\n\nIn January 2024, CSG’s Board of Directors approved a 7% increase in CSG’s cash dividend, with quarterly payments of $0.30 per share of common stock to be paid in March 2024.\n\n\n\nDuring the fourth quarter and full year 2023, CSG repurchased under its stock repurchase program, approximately 196,000 shares of its common stock for approximately $10 million and approximately 2,188,000 shares of its common stock for approximately $117 million, respectively.\n\n\n\n“Team CSG had a record-setting 2023 as we delivered excellent financial results across the board highlighted by 7.3% year-over-year organic revenue growth, our strongest annual result in nea...