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Dec 31, 2023
Conduent Q4 2023 Earnings Report
Conduent's Q4 2023 financial results were reported, showing mixed performance with revenue decline but exceeding expectations for Adjusted EBITDA and Adjusted EBITDA Margin.
Key Takeaways
Conduent reported a decrease in revenue for Q4 2023, but Adjusted EBITDA and Adjusted EBITDA Margin exceeded expectations. The company is executing a three-year plan focused on growth, rationalization, and improved cash flow generation, with progress made through portfolio divestiture announcements and share repurchases.
Q4 revenue was $953 million, and FY revenue was $3,722 million.
Q4 pre-tax income loss was $(4) million, and FY pre-tax income loss was $(332) million.
Q4 Adjusted EBITDA Margin was 10.8%, and FY Adjusted EBITDA Margin was 10.2%.
New business signings ACV for Q4 was $152 million, and for FY was $639 million.
Forward Guidance
Conduent provided its FY 2024 outlook, projecting adjusted revenue between $3.6 billion and $3.7 billion, an adjusted EBITDA margin between 8% and 9%, and adjusted free cash flow as a percentage of adjusted EBITDA between 5% and 10%.
Positive Outlook
- Adjusted Revenue is expected to be between $3,600M - $3,700M
- Adjusted EBITDA Margin is expected to be 8% - 9%
- Adjusted Free Cash Flow as % of Adjusted EBITDA is expected to be 5% - 10%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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