Unisys Q1 revenue up 15.6% YoY; reiterates FY23 guidance despite pension charge

UNISYS CORP

2023-Q1 EPS reported -$2.58 revenue$516,400,000

Revenue $516.4M, +15.6% YoY (+18.9% constant currency); Ex-L&S revenue +1.7% YoY (+4.6% constant currency).
GAAP net loss $175.4M (diluted EPS -$2.58) includes $183.2M non-cash pension settlement charge; non-GAAP net income $34.7M ($0.51 EPS).
Gross margin 30.8% vs 19.6% in 1Q22; non-GAAP operating margin 11.6% vs loss in prior year.
Total company pipeline grew 6% YoY and 15% sequentially; Next-Gen pipeline up 16% YoY.
FY23 guidance reiterated: constant currency revenue decline 3%-7%; Ex-L&S revenue range (1%) to +4%; non-GAAP operating margin 2%-4%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNISYS CORP reported the quarter ended March 31, 2023 results: revenue Revenue of $516.4M, net income GAAP net loss of $175.4M, EPS diluted loss per share of $2.58. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Revenue: Revenue of $516.4M
Net income: GAAP net loss of $175.4M
EPS: diluted loss per share of $2.58
Guidance: reaffirmed
Result: reported results

Exact text from the filing

of the GAAP to non-GAAP measures presented except for financial guidance since such a reconciliation is not practicable without unreasonable effort. • Revenue: ◦ Revenue of $516.4M vs. $446.7M in 1Q22, up 15.6% YoY, or up 18.9% in constant currency, primarily due to higher software license renewals within ECS • Gross Profit: ◦ Gross profit of $159.0M vs.

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Source: SEC EDGAR

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