Kyndryl Q1 FY2024: rev $4.2B, adj. EBITDA $612M (+25% YoY), raises FY EBITDA margin outlook to ~14%

Kyndryl Holdings, Inc.

2024-Q1 EPS reported -$0.62 revenue$4,193,000,000

Revenues $4.2B, down 2% YoY; net loss $141M ($0.62 loss per diluted share).
Adjusted EBITDA $612M (+25% YoY); adjusted pretax income $47M (vs -$50M prior-year period).
Raises FY2024 adjusted EBITDA margin outlook to ~14% (from 12-13%) and adj. pretax income to at least $100M.
Cloud hyperscaler alliance revenue >$80M in Q1; target >$300M for FY2024.
Advanced Delivery savings ~$375M annualized; Accounts initiative benefits >$300M annualized; both on track for $400M+ goals.

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 0.95

Kyndryl Holdings, Inc. reported the first fiscal quarter ended June 30, 2023 results: revenue $4.2 billion, net income net loss of $141 million, EPS ($0.62) per diluted share.

Period: the first fiscal quarter ended June 30, 2023
Revenue: $4.2 billion
Net income: net loss of $141 million
EPS: ($0.62) per diluted share
Result: reported results

Exact text from the filing

For the first quarter, Kyndryl reported revenues of $4.2 billion, a year-over-year decline of 2% and 1% in constant currency. The Company reported a pretax loss of $109 million and a net loss of $141 million, or ($0.62) per diluted share, in the quarter

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Kyndryl Holdings, Inc. updated its fiscal year 2024 guidance (raised).

Period: fiscal year 2024
Guidance: raised
Result: guidance update

Exact text from the filing

Kyndryl is raising its fiscal 2024 adjusted EBITDA margin outlook to approximately 14% from its prior projection of 12% – 13%, and now expects its fiscal 2024 adjusted pretax income to be at least $100 million.

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Kyndryl Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-013603

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