Conduent reports Q2 adjusted EPS 1c vs. 3c last year

Reports Q2 revenue $915M vs. $928M last year. Cliff Skelton, Conduent President and Chief Executive Officer stated, “Our Q2 performance exceeded our expectations especially with respect to Revenue, EBITDA, Net ARR and New Business signings. Q2 included a large new logo win in Transportation, allowing us to record the highest quarter in New Business TCV and ACV since Q4 2017. As an example of our non-financial success in Q2, we are proud to be recognized again, but now globally, as one of Newsweek’s Top 100 Global Most Loved Workplaces for 2023. Reflecting on our March 2023 Investor Presentation, we announced several key pillars for success as we execute toward our medium term strategic and financial objectives. First, we described a portfolio rationalization effort as a next step. That program is now in full swing. Second, we said that a key growth area was our Government Healthcare Business, specifically our MMIS Cloud-enabled offering. We are proud to now be underway on several implementations, including our largest deal to date, the State of Texas, and are in contract negotiations with another large state program. That pipeline remains strong. Finally, we described our opportunities in Digital Payments – specifically real-time payments. We are now the first and only BPO provider to process transactions through the recently announced US Federal Reserve’s FedNow Service. We are in full execution mode with the commitments we made in March, allowing us to be a more agile and focused provider.”