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Kyndryl stock tumbled early Monday after the company said its chief financial officer was leaving amid an accounting review. ...

Core Viewpoint - Kyndryl has delayed the filing of its quarterly report due to anticipated material weaknesses in its internal control over financial reporting for multiple periods [1] Group 1 - The company is facing issues with its internal controls, which may affect its financial reporting [1] - The delay in filing the quarterly report indicates potential challenges in the company's financial management processes [1] - Kyndryl's announcement raises concerns about the reliability of its financial statements and overall governance [1]

Core Insights - Kyndryl Holdings' CFO, David Wyshner, has departed from the company during an ongoing review of its accounting practices [1] Company Summary - The departure of the CFO indicates potential issues within Kyndryl Holdings' financial management and oversight [1]

Financial Performance - Kyndryl reported revenues of $3.9 billion for Q3 FY2026, a 3% increase year-over-year, with net income of $57 million, or $0.25 per diluted share[4]. - Adjusted pretax income was $168 million, reflecting an $8 million increase from the prior year, while adjusted net income was $122 million, or $0.52 per diluted share[5]. - Total revenue for the three months ended December 31, 2025, was $3,859 million, representing a 3% year-over-year growth[22]. - Net income for Q4 2025 was $57 million, a decrease from $215 million in Q4 2024, resulting in a net income margin of 1.5%[37]. - Adjusted EBITDA for Q4 2025 was $696 million, compared to $704 million in Q4 2024, with an adjusted EBITDA margin of 18.0%[37]. - Adjusted net income for the nine months ended December 31, 2025 was $301 million, compared to $159 million for the same period in 2024[37]. - Adjusted earnings per share (EPS) for Q4 2025 was $0.52, slightly up from $0.51 in Q4 2024[37]. Revenue Growth - Kyndryl Consult achieved a revenue growth of 24% year-over-year, with total revenues of $3.6 billion and signings of $4.1 billion over the last twelve months[8]. - The company generated $500 million in revenue from hyperscaler alliances, marking a 58% year-over-year increase, and is on track to exceed its fiscal 2026 target of $1.8 billion[8]. - Signings for the trailing twelve months reached $15.4 billion, with eleven customer contracts signed in Q3 exceeding $50 million each[7]. - Total signings for Q4 2025 were $3.9 billion, down from $4.1 billion in Q4 2024, with currency movements contributing five points to signings growth[40]. Cash Flow and Expenditures - Free cash flow for the quarter was $217 million, compared to $260 million in the prior-year period[5]. - Cash flows from operating activities for Q4 2025 were $427 million, compared to $260 million in Q4 2024[39]. - The company reported a net change in cash, cash equivalents, and restricted cash of $(437) million for the nine months ended December 31, 2025[24]. - The company experienced a decrease in net capital expenditures, which were $210 million in Q4 2025 compared to $93 million in Q4 2024[39]. - Capital expenditures for the nine months ended December 31, 2025, were $492 million, up from $365 million in 2024[24]. Share Repurchase and Debt - The company repurchased 3.7 million shares for $100 million in Q3, totaling 11 million shares repurchased for $349 million since the program's authorization[8]. - The company repurchased $250 million in common stock during the nine months ended December 31, 2025, compared to $30 million in the previous year[24]. - The total debt (short-term and long-term) was $3,100 million as of December 31, 2025[22]. Future Outlook - Kyndryl's fiscal year 2026 outlook includes adjusted pretax income of $575 to $600 million and free cash flow of $325 to $375 million[12]. - The projected pretax margin associated with recent signings is in the high-single-digit range, indicating strong profitability potential[8].

Core Insights - Kyndryl reported revenues of $3.9 billion for the third quarter of fiscal year 2026, reflecting a 3% year-over-year increase on a reported basis, while remaining unchanged in constant currency [3][6] - The company experienced a decline in pretax income to $91 million from $258 million in the prior-year period, primarily due to a significant transaction-related benefit recorded last year [3][4] - Kyndryl's net income was $57 million, or $0.25 per diluted share, compared to $215 million, or $0.89 per diluted share, in the same quarter last year [3][4] Financial Performance - Adjusted pretax income increased to $168 million, up $8 million from $160 million in the prior-year period, driven by contributions from Kyndryl's three-A initiatives [4][10] - Adjusted net income was $122 million, or $0.52 per diluted share, compared to $124 million, or $0.51 per diluted share, in the prior-year period [4][10] - Cash flow from operations was $427 million, significantly higher than $260 million in the prior-year period [3][21] Business Segments and Growth - Kyndryl Consult achieved double-digit revenue growth of 24% year-over-year in the third quarter, with total revenues of $3.6 billion over the last twelve months [7][10] - The company signed eleven customer contracts exceeding $50 million each during the third quarter, contributing to total signings of $15.4 billion for the trailing twelve months [4][10] - Revenue from hyperscaler alliances reached $500 million, marking a 58% year-over-year increase, and is expected to exceed the initial target of $1.8 billion for fiscal 2026 [7][10] Strategic Initiatives - Kyndryl continues to expand its AI-related capabilities, with a quarter of its signings now including AI-related content [10] - The company announced the acquisition of Solvinity Group, B.V., a provider of secure managed cloud platforms and services, expected to close in the first half of calendar year 2026 [10] - Leadership changes were made, with Harsh Chugh appointed as Interim Chief Financial Officer and other key positions filled [7][10] Fiscal Year 2026 Outlook - Kyndryl provided an outlook for fiscal year 2026, projecting adjusted pretax income of $575 to $600 million and free cash flow of $325 to $375 million [10][10] - The company anticipates a constant-currency revenue decline of 2% to 3% for the fiscal year [10]

This story was originally published on CFO.com. To receive daily news and insights, subscribe to our free daily CFO.com newsletter. The Trial Balance is CFO.com’s weekly preview of stories, stats and events to help you prepare. Part 1 — Kyndryl, an IT infrastructure services spin-off of IBM, says its CFO has departed, “effective immediately.” David Wyshner, the finance chief of IBM spin-off Kyndryl, is leaving his position as the company undertakes a review of its cash management practices, according to ...

Kyndryl Holdings, Inc. (KD) shares rallied 5.3% in the last trading session to close at $23.38. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16.9% loss over the past four weeks.The stock is benefiting from improving investor sentiment around its turnaround progress, renewed buying interest ahead of earnings, and broader optimism toward IT infrastructure and services names.This company is expected to post q ...

Core Insights - Kyndryl has launched the SAP Transformations Center of Excellence (CoE) to help customers leverage AI for SAP transformations [1][4] - The CoE is staffed by over 500 Kyndryl professionals who utilize the Kyndryl Agentic AI Framework to enhance SAP modernization efforts [2][4] - Kyndryl's collaboration with Nova Intelligence aims to simplify the transition from SAP ECC to SAP S/4HANA, achieving 100% Clean Core compliance and reducing project duration and labor [3][6] Company Overview - Kyndryl is a leading provider of mission-critical enterprise technology services, operating in over 60 countries and recognized as the world's largest IT infrastructure services provider [5] - The company offers advisory, implementation, and managed service capabilities to thousands of customers, focusing on designing, building, managing, and modernizing complex information systems [5] Strategic Partnerships - Kyndryl's SAP CoE builds on its strategic partnership with SAP and has been recognized as a global RISE with SAP delivery partner [4] - The company is expanding its SAP partnership to provide SAP S/4HANA Cloud Private Edition services, facilitating cloud migration and modernization of SAP environments [6]

Core Viewpoint - Kyndryl will announce its financial results for the third quarter of its 2026 fiscal year on February 9, 2026, with a conference call hosted by key executives [1]. Group 1: Financial Results Announcement - Kyndryl will release its results for the quarter ended December 31, 2025, on February 9, 2026, at approximately 7:00 a.m. ET [1]. - The earnings conference call will be hosted by Chairman and CEO Martin Schroeter and CFO David Wyshner at 8:30 a.m. ET on the same day [1]. Group 2: Access to Information - The live webcast of the earnings call can be accessed via Kyndryl's investor relations website [2]. - A slide presentation will be available shortly before the call on February 9, 2026, and replays will be accessible for twelve months after the event [2]. Group 3: Company Overview - Kyndryl is a leading provider of mission-critical enterprise technology services, offering advisory, implementation, and managed service capabilities to thousands of customers in over 60 countries [3]. - The company is recognized as the world's largest IT infrastructure services provider, responsible for designing, building, managing, and modernizing complex information systems [3].