Conduent Incorporated (CNDT) Tops Q1 EPS by 4c, Offers Guidance, Announces CFO Succession

Conduent Incorporated (NASDAQ: CNDT) reported Q1 EPS of $0.15, $0.04 better than the analyst estimate of $0.11. Revenue for the quarter came in at $1.03 billion versus the consensus estimate of $1.02 billion.

GUIDANCE:

Conduent Incorporated sees FY2021 revenue of $4.05-4.15 billion, versus the consensus of $4.07 billion.

CFO Succession

AnnouncementConduent also announced that Chief Financial Officer, Brian Webb-Walsh, intends to pursue an external opportunity and will be leaving Conduent as of June 11, 2021. The Company’s current Corporate Controller and Principal Accounting Officer, Stephen (Steve) Wood, who joined Conduent in 2020 as part of the Company’s routine succession planning efforts, will be promoted to the role of Chief Financial Officer at that time.

Cliff Skelton commented, “Steve was my chief financial officer before I joined Conduent and he has an impressive background as a strategic finance executive and proven business partner. He has been fully immersed in all aspects of the business since joining Conduent more than nine months ago. Brian has a new opportunity with a Fortune 100 company, and this is a natural next step for his career. He has been a trusted colleague and friend since I arrived at Conduent. Brian has dedicated 24 years to the organization as part of Xerox and then Conduent and, over the last two years, he has worked with me to improve the foundation of the Company. Given this improved foundation and our succession preparedness, I’m confident this will be a smooth transition. I am grateful for his contributions and I wish him the best in his next chapter.”

Steve Wood has served in his current role since August 2020. Prior to joining Conduent, he spent 15 years at Fiserv Inc. in finance and accounting leadership positions, including most recently as the Chief Financial Officer of Fiserv Output Solutions. He is a Chartered Global Management Accountant with an MBA with distinction from Warwick Business School.

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

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