Business Services Provider Conduent’s Mixed Bag Q4, Hit By Headwinds In Its Commercial Sales Efforts

Conduent Inc (NASDAQ:CNDT) shares are trading higher after it reported fourth-quarter FY23 results.

Revenues declined 3.3% Y/Y to $953 million, beating the analyst consensus of $930 million. 

The new business TCV pipeline rose 6% Q/Q and 10% Y/Y, led by several sizeable early-stage opportunities in the Government and Transportation Segment.

Adjusted EBITDA rose 8.4% Y/Y to $103 million, with margin expanding 120 bps Y/Y to 10.8%. Adjusted EPS of $0.03 missed the street view of $0.04.

Operating cash flow stood at $122 million, with adjusted FCF of …

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