Unisys Corp. (UIS) Tops Q2 EPS by 21c, Revenues Beat

Unisys Corp. (NYSE: UIS) reported Q2 EPS of $0.39, $0.21 better than the analyst estimate of $0.18. Revenue for the quarter came in at $667 million versus the consensus estimate of $661.75 million.

2Q 2018:

• Total revenue of $667 million reflects Services revenue growth of 2.1 percent year-over-year
• The company achieved operating profit margin of 8.1 percent, up 860 basis points year-over-year and non-GAAP operating profit(6) margin of 8.3 percent, up 440 basis points year-over-year
• Net income was $4 million versus a loss of $42 million in the prior-year period; Adjusted EBITDA grew 46 percent year-over-year to $99 million
• Total Contract Value(1) (\"TCV\") grew 70 percent year-over-year in the quarter and 120 percent for the first half; new business TCV rose 102 percent year-over-year in the quarter and 126 percent in the first half
• Services backlog(4) was up 27 percent year-over-year to $4.6 billion
• Diluted earnings per share was $0.07 versus a diluted loss per share of $0.83 in the prior-year period; non-GAAP diluted earnings per share was $0.39 versus $0.06 in the prior-year period

"We are pleased to see solid revenue performance, with our third consecutive quarter of year-over-year growth, margin expansion for the company overall and improvements within our Services business, which saw revenue grow more than 2 percent year-over-year," said Unisys Chairman, President and CEO Peter A. Altabef. "Our strong second quarter results indicate continued progression toward our goals for 2018."

For earnings history and earnings-related data on Unisys Corp. (UIS) click here.

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