secwatch.observer — SEC 8-K summary
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Issuer:     CONDUENT Inc (CNDT)
CIK:        0001677703
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0001677703-23-000064
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677703/000167770323000064/0001677703-23-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677703/000167770323000064/cndt-20231101.htm
  HTML page:      https://secwatch.observer/filing/0001677703-23-000064

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