Conduent Incorporated (CNDT) Misses Q4 EPS by 2c

Conduent Incorporated (NASDAQ: CNDT) reported Q4 EPS of $0.18, $0.02 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.08 billion.

Cliff Skelton, Conduent CEO, stated, "We finished the year in-line with the outlook that we set when I began as CEO in August. We have continued to make progress on our Company transformation, focusing on the three pillars of growth, quality, and efficiency. We are building a strong team and are attracting top-tier talent to the organization to help drive change and improve our market positioning."

Skelton continued, "Along with our board, we have also completed our strategic and operational review. As a result, we have identified a go-forward investment strategy to drive revenue stabilization and sales growth, efficiency opportunities, and increased quality, leveraging a diversified and prioritized approach. We considered potential divestitures and given the attractiveness of the businesses in our portfolio, we did not find proposals to be sufficiently compelling at this time. We believe our current portfolio coupled with our transformation efforts and improved leadership will position us well over time to drive both top-line and EBITDA growth."

GUIDANCE:

Sees FY20 revenue down 6-8%, Adj. EBITDA Margin of 10.5-11.5%, Adj. Free Cash Flow as % of Adj. EBITDA of 15-20%

For earnings history and earnings-related data on Conduent Incorporated (CNDT) click here.

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