Conduent Q1 revenue $967M (-6% YoY); net income $136M vs loss; guides FY adj. EBITDA margin 9.5-10.5%

CONDUENT Inc

2022-Q1 EPS reported $0.61 revenue$967,000,000

GAAP net income $136M ($0.61 diluted EPS) vs loss of $11M (-$0.06) in Q1 2021, boosted by Midas gain and insurance recoveries.
Adjusted EBITDA $107M, margin 11.1% (up 70bps YoY); adjusted diluted EPS $0.10, down from $0.15.
New business TCV signings $464M (+32% YoY); ARR signings $107M; Net ARR Activity Metric $102M (+17%).
Intends to separate Transportation business via spin-off rather than sale; no timetable provided.
FY 2022 outlook: Adj. revenue $3,825M-$3,975M; Adj. EBITDA margin 9.5%-10.5% (vs 11.0% in 2021).

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