Conduent Q3 net loss $289M on $932M revenue, goodwill impairment

CONDUENT Inc

2023-Q3 EPS reported -$1.42 revenue$2,769,000,000

Revenue $932M, down 4.6% YoY; GAAP diluted EPS $(1.34); Adjusted EPS $(0.09).
Pre-tax loss $(313)M vs $23M income in Q3 2022, hit by goodwill impairment from BenefitWallet deal.
Adjusted EBITDA $92M (9.9% margin) vs $105M (10.7%) prior year, ahead of expectations.
Entered agreement to transfer BenefitWallet HSA; expects ~$425M pre-tax gain, close H1 2024.
FY2023 outlook: Adj. Revenue $3.70-3.72B; Adj. EBITDA margin ~10.0%; Adj. FCF ~0% of Adj. EBITDA.

item 2.02 item 7.01 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

CONDUENT Inc reported third quarter 2023 results: revenue $932M, net income $(289)M, EPS $(1.34) per diluted share. Guidance reaffirmed.

Period: third quarter 2023
Revenue: $932M
Net income: $(289)M
EPS: $(1.34) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Conduent Reports Third Quarter 2023 Financial Results Key Q3 2023 Highlights • Revenue and Adj. Revenue (1) : $932M • Pre-tax Income (Loss): $(313)M • Adj. EBITDA Margin (1) : 9.9% • New business signings ACV (2) : $154M • Net ARR Activity Metric (2) (TTM): $103M

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CONDUENT Inc filing history →

Source: SEC EDGAR

accession 0001677703-23-000064

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