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Mar 31, 2024
Conduent Q1 2024 Earnings Report
Conduent's first quarter 2024 financial results were announced, revealing revenue exceeding expectations and Adjusted EBITDA/Margin broadly in line with expectations, but sales performance lagged due to timing.
Key Takeaways
Conduent reported revenue of $921 million for Q1 2024, slightly below the previous year. Pre-tax income was $127 million, a significant increase from the prior year's loss. Adjusted EBITDA margin was 7.5%. The company also highlighted the closure of the sale of Curbside Management and Public Safety businesses and expects to finalize the BenefitWallet transaction in May.
Revenue was $921 million.
Pre-tax income reached $127 million.
Adjusted EBITDA margin was 7.5%.
New business signings ACV totaled $99 million.
Forward Guidance
Conduent provided FY 2024 outlook with revenue between $3.6 billion and $3.7 billion and Adjusted EBITDA margin between 8% and 9%.
Positive Outlook
- Revenue between $3,600M - $3,700M
- Adj. EBITDA Margin between 8% - 9%
- Adj. Free Cash Flow as % of Adj. EBITDA between 5% - 10%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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