Conduent Shares Rise Despite Mixed Q3 Results, Lowers 2024 Outlook Amid Revenue Decline
Conduent Shares Rise Despite Mixed Q3 Results, Lowers 2024 Outlook Amid Revenue Decline
Conduent Inc. (NASDAQ:CNDT) shares are trading higher after the company reported mixed third-quarter 2024 results.
Conduent股份有限公司（納斯達克股票代碼：CNDT）公佈第三季度2024年業績不佳後，股價有所上漲。
- Revenue for Q3 declined 13.4% year over year to $807 million, missing the consensus of $817.33 million.
- Adjusted revenue declined 6% YoY to $781 million. The new business annual contract value (ACV) totaled $111 million. Total operating costs and expenses declined 47.95% YoY to $648 million.
- Adjusted EBITDA declined 46.7% year over year to $32 million, with margin contracting 310 bps yearly to 4.1%. Adjusted EPS loss of 14 cents was down from 9 cents a year ago, beating the consensus loss estimate of 15 cents.
- Operating cash flow was negative $13 million, with an adjusted FCF of negative $6 million.
- Conduent repurchased about 3.9 million shares in the quarter, completing its $75 million buyback program.
- The company ended the quarter with cash and equivalents worth $393 million. As of September end, its long-term debt was $718 million.
- Q3營業收入同比下降13.4%，至80700萬美元，低於81733萬美元的共識值。
- 調整後營業收入同比下降6%，至78100萬美元。新業務年度合同價值（ACV）總額爲11100萬美元。總營運成本和費用同比下降47.95%，至64800萬美元。
- 調整後EBITDA同比下降46.7%，至3200萬美元，邊際收縮310個點子，年度爲4.1%。調整後每股收益虧損14美分，低於一年前的9美分，超出15美分的共識虧損估計。
- 經營現金流爲負1300萬美元，調整後自由現金流爲負600萬美元。
- Conduent在本季度回購了約390萬股，完成了7500萬美元的回購計劃。
- 截至季末，該公司的現金及現金等價物價值爲39300萬美元。截至9月底，其長期債務爲71800萬美元。
"Our Commercial segment continued to exhibit enhanced performance helping to offset a sales lag in our Government segment. We added several new leaders to our senior team which, when accompanied by continued sequential momentum, will help us finish the year strong," Conduent CEO Cliff Skelton said.
Conduent首席執行官Cliff Skelton表示：「我們的商業部門繼續表現出色，有助於彌補政府部門銷售滯後的情況。我們向高管團隊新增了幾位新領導者，加上持續的順利發展，將幫助我們順利度過本年度。」
The company sold its Casualty Claims Solutions business in the quarter for $224 million. The proceeds went toward prepaying a $38-million Term Loan B and $37 million on Term Loan A.
該公司在這一季度以22400萬美元的價格出售了其Casualty Claims Solutions業務。所得款項用於提前還清了一筆3,800萬美元的B Term貸款和3,700萬美元的A Term貸款。
2024 Outlook lowered: Conduent now expects adjusted revenue of $3.185 billion-$3.215 billion (prior $3.325 billion – $3.375 billion) versus the $3.38 billion consensus.
2024年展望下調：Conduent現在預計調整後的營業收入爲31.85億32.15億美元（之前爲33.25億 - 33.75億美元），而共識爲33.8億美元。
The company reduced its adjusted EBITDA margin outlook from 4%- 5% to 3.75% – 4% for 2024.
該公司將其2024年調整後的EBITDA利潤率展望從4%-5%降至3.75% - 4%。
Price Action: CNDT shares are trading higher by 7.41% at $3.99 at the last check Wednesday.
股價表現：CNDt股票在週三最後交易時以3.99美元的價格上漲了7.41%。
Now Read:
現在就閱讀吧:
- S&P 500, Dow Hit Record Highs After Trump Win; Fear Index Drops 20%
- S&P 500、道瓊斯創紀錄新高，特朗普獲勝後，恐慌指數下跌20%。
Image via Conduent
Conduent提供的圖片
譯文內容由第三人軟體翻譯。
