Post by icemandios on May 6, 2021 2:49:01 GMT
Conduent Announces Strong First Quarter Financial Results and CFO Succession
Key Q1 2021 Highlights
Revenue: $1,028M; down (2.2)% Yr/Yr
Adj. EBITDA Margin (1) : 11.2%; up 210 bps Yr/Yr
Financial performance was above internal and external expectations, driven by Government Payments, new business ramp and efficiency progress
Continued new business growth:
Q1 2021 Total Contract Value (TCV) new business signings of $356M, an increase of 10% vs Q1 2020
Q1 2021 Annual Recurring Revenue (ARR) signings of $95M, an increase of 67% vs Q1 2020
FLORHAM PARK, N.J., May 05, 2021 (GLOBE NEWSWIRE) -- Conduent (NASDAQ: CNDT), a business process services and solutions company, today announced its first quarter 2021 financial results and a senior leadership change.
Cliff Skelton, Conduent CEO, stated “I am proud of our associates and the results we achieved in the first quarter. Our financial and operational performance points to the progress we made over the past 24 months. We also achieved another strong sales quarter, where our continued focus on enabling our clients' success has resulted in strengthened client confidence, additional business with existing clients, and increased recurring revenue. We will continue to focus on efficiency and quality, and we see a pivot to growth on the horizon. We are well-positioned in the growing markets where we operate, and I remain energized by the culture and momentum we are creating as well as the opportunities ahead of us."
My note: Due to funky formatting copy and paste is a no go. So the PR, properly formatted with financial data tables can be read here.
The 8K on the CFO transition can be read here.
And the 10-Q here.
Key Q1 2021 Highlights
Revenue: $1,028M; down (2.2)% Yr/Yr
Adj. EBITDA Margin (1) : 11.2%; up 210 bps Yr/Yr
Financial performance was above internal and external expectations, driven by Government Payments, new business ramp and efficiency progress
Continued new business growth:
Q1 2021 Total Contract Value (TCV) new business signings of $356M, an increase of 10% vs Q1 2020
Q1 2021 Annual Recurring Revenue (ARR) signings of $95M, an increase of 67% vs Q1 2020
FLORHAM PARK, N.J., May 05, 2021 (GLOBE NEWSWIRE) -- Conduent (NASDAQ: CNDT), a business process services and solutions company, today announced its first quarter 2021 financial results and a senior leadership change.
Cliff Skelton, Conduent CEO, stated “I am proud of our associates and the results we achieved in the first quarter. Our financial and operational performance points to the progress we made over the past 24 months. We also achieved another strong sales quarter, where our continued focus on enabling our clients' success has resulted in strengthened client confidence, additional business with existing clients, and increased recurring revenue. We will continue to focus on efficiency and quality, and we see a pivot to growth on the horizon. We are well-positioned in the growing markets where we operate, and I remain energized by the culture and momentum we are creating as well as the opportunities ahead of us."
My note: Due to funky formatting copy and paste is a no go. So the PR, properly formatted with financial data tables can be read here.
The 8K on the CFO transition can be read here.
And the 10-Q here.