Conduent Q1 revenue flat at $921M; GAAP net income $99M on BenefitWallet gain; Adj. EBITDA margin 7.5%, down from 9.8%

CONDUENT Inc

2024-Q1 EPS reported $0.46 revenue$921,000,000

Revenue $921M flat YoY; GAAP net income $99M vs $(6)M loss, driven by $164M gain from BenefitWallet transfer.
Adjusted EBITDA $69M (margin 7.5%) vs $90M (9.8%) prior year; FY24 Adj. EBITDA margin guided 8%-9%, down from 10.2%.
New business signings ACV $99M; Net ARR metric TTM $17M; CEO cites sales lag due to timing of opportunities.
Closed sale of Curbside Management and Public Safety; BenefitWallet final tranche expected in May; prepaid $259M Term Loan B.
FY24 outlook: revenue $3.6B-$3.7B (vs $3.722B); Adj. FCF as % of Adj. EBITDA guided 5%-10%.

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 0.95

CONDUENT Inc reported first quarter 2024 results: revenue $921M, net income $99, EPS GAAP Diluted EPS $0.46.

Period: first quarter 2024
Revenue: $921M
Net income: $99
EPS: GAAP Diluted EPS $0.46
Result: reported results

Exact text from the filing

Conduent Reports First Quarter 2024 Financial Results Key Q1 2024 Highlights • Revenue: $921M • Pre-tax Income: $127M

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379 earnings releases filed in the last 30 days. Browse all earnings releases →

CONDUENT Inc filing history →

Source: SEC EDGAR

accession 0001677703-24-000071

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