Conduent Q2 revenue $928M, adjusted EBITDA $87M; ends Transportation separation consideration

CONDUENT Inc

2022-Q2 EPS reported $0.60 revenue$1,895,000,000

GAAP net income $0M vs $12M prior year; diluted EPS $(0.01) vs $0.04; adjusted diluted EPS $0.03 vs $0.20.
Revenue $928M, down 9.6% YoY; adjusted revenue down 8.0% due to prior stimulus and FX headwinds.
Adjusted EBITDA $87M (9.4% margin) vs $119M (11.8%) prior year; in line with expectations.
Decided against separating Transportation business after further analysis; 'One Conduent' strategy.
FY 2022 outlook: adj. revenue $3.85B-$3.95B, adj. EBITDA margin 10.0%-10.5%, adj. FCF ~15% of adj. EBITDA.

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