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Jun 30, 2023
Kyndryl Q1 2024 Earnings Report
Kyndryl's first quarter of fiscal year 2024 financial results were released, showing a year-over-year revenue decline of 2%, but adjusted pretax income and adjusted EBITDA margins significantly increased.
Key Takeaways
Kyndryl reported revenues of $4.2 billion, a net loss of $141 million, and adjusted EBITDA of $612 million. The company is raising its fiscal year 2024 adjusted EBITDA margin outlook to approximately 14% and adjusted pretax income outlook to at least $100 million.
Revenues totaled $4.2 billion, a 2% year-over-year decline.
Net loss was $141 million, or ($0.62) per diluted share.
Adjusted EBITDA increased 25% to $612 million.
Adjusted pretax income was $47 million, compared to an adjusted pretax loss of $50 million in the prior-year period.
Revenue by Geographic Location
Forward Guidance
Kyndryl is raising its fiscal 2024 adjusted EBITDA margin outlook to approximately 14% from its prior projection of 12% – 13%, and now expects its fiscal 2024 adjusted pretax income to be at least $100 million. The Company is reaffirming its constant-currency revenue outlook and its fiscal 2024 targets for the benefits from its three-A initiatives, and noted that it expects its fiscal 2024 adjusted free cash flow will be positive.
Positive Outlook
- Raising fiscal year 2024 adjusted EBITDA margin outlook to approximately 14%.
- Expecting fiscal year 2024 adjusted pretax income to be at least $100 million.
- Reaffirming constant-currency revenue outlook.
- Reaffirming fiscal year 2024 targets for benefits from its three-A initiatives.
- Expecting fiscal year 2024 adjusted free cash flow will be positive.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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