secwatch.observer — SEC 8-K summary
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Issuer:     DXC Technology Co (DXC)
CIK:        0001688568
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001688568-23-000089
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DXC Q1 FY24 revenue down 7% YoY to $3.45B; Non-GAAP EPS $0.63; cuts FY24 guidance
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- Revenue $3.45B, down 7.0% YoY (organic -3.6%), missing guidance; net income $42M vs $103M in Q1 FY23.
- Adjusted EBIT margin 6.5% (down 50bps); Non-GAAP diluted EPS $0.63 vs $0.75 prior year; free cash flow -$75M.
- GBS organic revenue +3.3% (margin 11.3%); GIS organic -9.9% (margin 5.2%); overall book-to-bill 0.89x.
- FY24 guidance cut: organic revenue growth -4% to -3%; adjusted EBIT margin 7.0%-7.5% (FY23: 8.0%); Non-GAAP EPS $3.15-$3.40.
- Repurchased 11M shares for $280M in Q1; on track for $1B share buyback in FY24.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1688568/000168856823000089/0001688568-23-000089-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1688568/000168856823000089/dxc-20230802.htm
  HTML page:      https://secwatch.observer/filing/0001688568-23-000089

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