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Mar 31, 2023
Conduent Q1 2023 Earnings Report
Conduent's Q1 2023 financial results were announced, revealing revenue and EBITDA that aligned with expectations, alongside lower year-over-year sales due to deal timing.
Key Takeaways
Conduent reported Q1 2023 results with revenue of $922 million and an adjusted EBITDA margin of 9.8%. While revenue and EBITDA met expectations, sales were lower year-over-year due to the timing of large deals. The company is optimistic about full-year 2023 sales, with a strong pipeline across all segments.
Revenue and Adjusted Revenue: $922M
Pre-tax Income (Loss): $(8)M
Adj. EBITDA Margin: 9.8%
New business signings ACV: $125M
Forward Guidance
Conduent provided its FY 2023 outlook, expecting adjusted revenue between $3.7 billion and $3.8 billion and an adjusted EBITDA margin between 10.0% and 10.8%. They also anticipate adjusted free cash flow as a percentage of adjusted EBITDA to be between 15% and 20%.
Positive Outlook
- Adjusted Revenue: $3,700M - $3,800M
- Adj. EBITDA Margin: 10.0% - 10.8%
- Adj. Free Cash Flow as % of Adj. EBITDA: 15% - 20%
- Strong liquidity position with long dated debt maturities
- Focus on growth, quality, and efficiency
Challenges Ahead
- Unable to predict with reasonable certainty the totality or ultimate outcome or occurrence of adjustments for the forward-looking period
- Adjusted revenue outlook provided only on a non-GAAP basis using foreign currency translation rates at current period end due to the inability to accurately predict foreign currency impact on revenues.
- Adjusted Free Cash Flow outlook is only available on a non-GAAP basis
Historical Earnings Impact
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Avg. Return Before/After Earnings
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