CNDT - Conduent declines 15% after reporting Q1 revenue miss

Conduent (CNDT -15.1%) shows a 6% drop in revenue from last year to $967M. Net income was $136M up significantly versus prior year period, reflecting the gain on sale of the Midas divestiture and insurance recoveries relating to a previously disclosed legal matter. Adjusted EBITDA of $107M and Adjusted EBITDA Margin of 11.1% benefited from a one-time recovery of $14M in defense costs. Total Contract Value (or TCV) new business signings of $464M. Annual Contract Value (or ACV) of $167M Annual Recurring Revenue (or ARR) signings of $107M Last month, the stock gained on potential separation of transportation unit FY 2022 Outlook: Adjusted Revenue $3.825B - $3.975B (vs. consensus of $3.92B); Adjusted EBITDA Margin of 9.5% - 10.5%; Adjusted Free Cash Flow as % of Adjusted EBITDA Approx. 15%  Contributor comments on the stock: 'Conduent’s investments in artificial intelligence and data management will most likely improve the company’s profitability ratios.' Previously (May 3): Conduent Non-GAAP EPS of

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Conduent declines 15% after reporting Q1 revenue miss