Conduent reported strong Q3 2024 financial results with revenue of $807 million

From GlobeNewswire: 2024-11-06 08:00:00

Conduent Incorporated reported revenue of $807 million in Q3 2024, with adjusted revenue at $781 million and pre-tax income at $159 million. The company exceeded expectations with an adjusted EBITDA margin of 4.1%. New business signings ACV reached $111 million, and net ARR activity was $46 million.

During Q3 2024, Conduent completed the sale of its Casualty Claims Solutions business, receiving $224 million in cash consideration. The company used part of the proceeds to prepay $38 million of Term Loan B and $37 million of Term Loan A. Pre-tax income for Q3 was $159 million, a significant increase from the prior year.

Key performance highlights in Q3 2024 included the appointment of new leaders, achievements in technology-led solutions, and the receipt of contracts for projects in healthcare, transportation, and logistics. Conduent’s liquidity position remains strong, and it completed a $75 million share repurchase program.

The company’s FY 2024 outlook includes adjusted revenue of $3,185M – $3,215M and an adjusted EBITDA margin of 3.75% – 4.0%. Conduent utilizes non-GAAP financial measures to provide additional insights into its operations, including adjusted revenue, EBITDA, and operating income. A conference call to discuss these results is scheduled for November 6, 2024.



Read more at GlobeNewswire:: Conduent Reports Third Quarter 2024 Financial Results