DXC Technology (DXC) Misses Q2 EPS by 4c, Revenues Miss

DXC Technology (NYSE: DXC) reported Q2 EPS of $1.38, $0.04 worse than the analyst estimate of $1.42. Revenue for the quarter came in at $4.85 billion versus the consensus estimate of $4.92 billion.

• Q2 earnings per share from continuing operations was $(8.19), including the cumulative impact of certain items of $(9.57) per share, reflecting goodwill impairment, restructuring costs, transaction, separation and integration-related costs, amortization of acquired intangible assets, gain on arbitration award, and a tax adjustment related to prior restructuring charges
• Q2 non-GAAP earnings per share was $1.38
• Q2 loss from continuing operations was $(2,115) million, including the cumulative impact of certain items of $(2,477) million, reflecting goodwill impairment, restructuring costs, transaction, separation and integration-related costs, amortization of acquired intangible assets, gain on arbitration award, and a tax adjustment related to prior restructuring charges
• Q2 non-GAAP income from continuing operations was $362 million
• Q2 EBIT of $(1,962) million, adjusted for certain items is $529 million and adjusted EBIT margin was 10.9%, compared with 15.9% in the prior year
• Q2 net cash provided by operating activities was $1,651 million
• Q2 adjusted free cash flow was $739 million

"During my first two months as CEO, I have met with many of our largest customers and most of our people around the world,” said Mike Salvino, president and CEO. “I am very pleased with our global talent base, capabilities and the scale and scope of our offerings. DXC has a loyal, global customer base for whom we manage mission-critical operations. I am confident that by strengthening our focus on our people, customers and operational execution, we will deliver better financial results and be positioned to grow profitably while unlocking value for our shareholders."

For earnings history and earnings-related data on DXC Technology (DXC) click here.

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