About Unisys RELEASE NO.: 0730/9953 UIS-C BLUE BELL, Pa., July 30, 2024 /PRNewswire/ -- Unisys (NYSE: UIS) will be participating in the Deutsche Bank Technology Conference on Wednesday, August 28, 2024, at the Waldorf Astoria Monarch Beach in Dana Point, Calif. Unisys management will be available throughout the day for one-on-one and small group meetings. Investors who would like to schedule a meeting with Unisys should contact their Deutsche Bank representative. Unisys is a global technology solutions comp ...

BLUE BELL, Pa., July 23, 2024 /PRNewswire/ -- Unisys (NYSE: UIS) announced it will release its secondquarter 2024 financial results on Monday, August 5, 2024, after the close of trading on the New York Stock Exchange. Unisys will host a conference call with the financial community on Tuesday, August 6, 2024, at 8 a.m. EDT to discuss the results. The company will offer a live, listen-only webcast of the conference call on the Unisys Investor Website at www.unisys.com/investor. In addition, domestic callers c ...

Core Insights - Unisys has been awarded two prestigious titles by Dell Technologies, recognizing its innovative solutions and exceptional performance in client relationships [1][2]. Group 1: Awards and Recognition - Unisys received the 2024 Global Alliances Trailblazer Partner of the Year award for its pioneering efforts in technological advancements within the IT industry [2]. - The company was also named the 2024 Global Alliances Expansion Partner of the Year for the Americas, highlighting its significant growth and expansion of existing customer relationships in that region [2]. Group 2: Company Vision and Collaboration - The president and COO of Unisys emphasized the importance of innovation and a shared vision in the partnership with Dell Technologies, aiming to challenge the status quo and maximize client potential [3]. - Unisys positions itself as a global technology solutions provider, offering services in cloud, data and AI, digital workplace, logistics, and enterprise computing to help clients achieve breakthroughs [4].

Core Insights - Unisys has been recognized for the first time on Newsweek's Top 100 Global Most Loved Workplaces® list, highlighting its commitment to employee satisfaction and a positive work culture [4][5] Company Overview - Unisys is a global technology solutions company that provides services in cloud, data and AI, digital workplace, logistics, and enterprise computing, aiming to empower leading organizations [2] Employee Sentiment and Satisfaction - The recognition is based on employee sentiment measured across five critical areas: future outlook, career achievement, alignment of employer and employee values, respect at all levels, and collaboration [5] - Additional factors such as inclusion, employee wellness, diversity, career development, and company leadership were also analyzed in relation to the critical areas [5] Survey and Methodology - The results were derived from a survey of over 2 million employees from companies of various sizes, emphasizing the importance of respect, care, and appreciation in the workplace [7]

Monty Rakusen Investment Thesis With the investing world extremely excited about AI-driven stocks, I believe I've found Unisys Corporation (NYSE:UIS) to be a beneficiary of the AI-driven growth story as the company offers what look to me very innovative AI solutions to help customers do business more efficiently. With stable recurring revenues of around $2 billion, I believe eventually the company can be profitable on a GAAP basis due to efficiency gains and lower SGA expenses going forward. Cash flows cont ...

BLUE BELL, Pa., May 28, 2024 /PRNewswire/ -- Unisys (NYSE: UIS) has received two HDI Global Service and Support Awards: "Best Customer Experience" and "Best Service and Support Manager." These awards recognize the company's Digital Workplace Solutions (DWS) team and their strategic approach to optimizing clients' customer experience, as well as Unisys Service Desk Service Manager Gilberto Sanchez for exceeding client expectations and exemplary performance. In 2023, the Help Desk Institute (HDI) recognized U ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 1-8729 UNISYS CORPORATION (Exact name of registrant as specified in its charter) Delaware 38-0387840 (State or other jurisdiction of incorporation or organization) 801 Lakeview Dr ...

Financial Data and Key Metrics Changes - The company reported a total revenue of $488 million, down 5.5% year-over-year and 7.1% in constant currency, primarily due to the expected cadence of license and support (L&S) renewals [81] - Adjusted EBITDA for the first quarter was $65 million, representing an adjusted EBITDA margin of 13.4%, compared to 19% in the prior year period [5] - First quarter adjusted net income was $3 million or $0.04 per share, compared to $35 million or $0.51 per share in the prior year [8] - The company ended the quarter with a backlog of $2.8 billion, roughly flat year-over-year, but down approximately $200 million sequentially [1] Business Line Data and Key Metrics Changes - Ex-L&S revenue grew 4% year-over-year to $395 million, with expectations for acceleration in the second half of the year [108][95] - ECS gross margin was 57.8% in the first quarter, down from 66.7% in the prior year, attributed to lower L&S revenue [3] - CA&I revenue was $129 million, an increase of 2.3%, driven by higher-margin solutions [109] - DWS revenue was $132 million, flat compared to the prior period, with expectations for growth in the second half of the year [82] Market Data and Key Metrics Changes - Total company TCV declined 1% year-over-year, with a 20% decline in Ex-L&S solutions, largely due to renewal timing [84] - The pipeline for Digital Workplace Solutions grew 10% from the fourth quarter, indicating strong client interest [61] - The company signed significant new logo contracts in EMEA and the U.S., indicating a positive market reception [97][86] Company Strategy and Development Direction - The company is focused on improving performance in Ex-L&S solutions and enhancing profitability through operational efficiency [57] - There is an emphasis on expanding market share in a consolidating market by maintaining excellence in field services [62] - The company aims to enhance free cash flow generation by reducing legal and environmental costs, with expectations for declines beginning next year [107][38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for revenue growth in the second half of the year, driven by new business signings and project work [95][34] - The company anticipates improving free cash flow conversion as legal and environmental payments decline [96][38] - Management highlighted the importance of new logo signings as a key component for sustaining faster growth [69] Other Important Information - The company has a capital-light strategy, with capital expenditures totaling approximately $20 million in the first quarter [20] - The net leverage ratio was 0.5 times, slightly up from 0.4 times at year-end, indicating strong liquidity [23] - The company expects total company revenue growth of negative 1.5% to positive 1.5% in constant currency for the full year [26] Q&A Session Summary Question: Can you elaborate on the potential magnitude of your plans to reduce environmental and legal costs? - Management indicated that significant legal expenses are expected to tail off after 2024, which will increase remaining cash allowance going forward [12][13] Question: Are you seeing follow-through on heightened L&S volumes? - Management noted a slight increase in L&S revenue this quarter, primarily due to timing, and expressed encouragement regarding consumption trends [14][15] Question: Can you quantify the expected decline in legal and environmental payments? - Management expects a decline of more than half in these expenses over the next couple of years, but did not provide specific quantification [93][122] Question: What are the expectations for gross margins in new businesses? - Management stated that overall Ex-L&S gross margin is expected to improve by 150 to 200 basis points this year, with specific targets for next-gen solutions around 25% gross margin [150][151]

News Release Unisys Announces 1Q24 Results Unisys Reiterates Full-Year Guidance and Builds Momentum in New Logo Signings BLUE BELL, Pa., May 7, 2024 – Unisys Corporation (NYSE: UIS) reported financial results for the first quarter of 2024. "Unisys' first quarter results signal a growing market recognition of the transformation we have achieved within our portfolio of solutions and services, which can be seen in the momentum of our New Logo signings that more than doubled year over year," said Unisys Chair a ...

Financial Performance - The company recorded a net loss of $430.7 million in 2023, compared to a loss of $106.0 million in 2022, primarily due to $348.9 million in pension plan settlement losses[170] - Revenue for 2023 increased by 1.8% to $2.02 billion, with U.S. operations revenue growing 4.0% to $889.0 million[173][174] - Gross profit margin improved to 27.4% in 2023 from 26.7% in 2022, driven by lower cost reduction charges and CA&I segment performance[177] - Cash provided by operating activities increased to $74.2 million in 2023 from $12.7 million in 2022, primarily due to working capital improvements[195] - The company's total debt decreased to $504.2 million at December 31, 2023, compared to $513.1 million at December 31, 2022[201] - Cash used for financing activities in 2023 was $17.3 million, down from $21.6 million in 2022[197] Pension and Retirement Plans - The company reduced global defined benefit pension obligations by approximately $2.0 billion since December 2020, including $1.3 billion in the U.S.[199] - The company estimates future cash contributions to its U.S. and non-U.S. defined benefit pension plans to be approximately $110 million in 2025 and $770 million from 2026 through 2033[200] - The company's U.S. qualified defined benefit pension plans had a calculated value of plan assets of $2.08 billion and a fair value of $1.82 billion at December 31, 2023[226] - The company determined the discount rate for its U.S. defined benefit pension plans to be 5.70% at December 31, 2023, a decrease of 34 basis points from 2022, and 4.24% for non-U.S. plans, a decrease of 56 basis points[225] - A 25 basis point change in the U.S. and non-U.S. discount rates would cause a change in 2024 pension expense of approximately $500 thousand and $800 thousand, respectively, and a change of approximately $42 million and $48 million in the benefit obligation[225] - The company recognized consolidated pension expense of $391.3 million for the year ended December 31, 2023, compared to $47.1 million in 2022, and expects pension expense of approximately $57.7 million for 2024[229] - The company's expected long-term rate of return on U.S. plan assets is 7.00%, and on non-U.S. plan assets is 4.82% for 2024[226] Segment Performance - Cloud, Applications & Infrastructure Solutions (CA&I) segment revenue grew to $531.0 million in 2023, with gross profit margin increasing to 15.4% from 9.1% in 2022[189] - The company's CA&I and DWS reporting units had fair values in excess of book value by 10% and 16%, respectively, as of the 2023 annual impairment analysis[238] - The company's consolidated goodwill balance related to the Digital Workspace Solutions (DWS) reporting unit was $140.8 million as of December 31, 2023[261] Cash and Liquidity - The company has $232.2 million in cash and cash equivalents held by foreign subsidiaries, with approximately one-third subject to transfer restrictions[194] - The company's secured revolving credit facility provides up to $145.0 million, with $88.6 million available as of December 31, 2023[205] - The company's operating lease liabilities were $44.7 million as of December 31, 2023[202] - The company had outstanding standby letters of credit and surety bonds totaling approximately $232 million at December 31, 2023[211] Foreign Exchange and Market Risks - A hypothetical 10% adverse movement in foreign currency exchange rates would have reduced the estimated fair value of the company's derivative financial instruments by approximately $49 million as of December 31, 2023[245] - The company uses foreign exchange forward contracts to reduce exposure to market risks from changes in foreign currency exchange rates on intercompany balances[244] - The company is exposed to foreign currency exchange rate risks, particularly from a strengthening U.S. dollar relative to the euro and British pound sterling, which may adversely affect consolidated revenue and operating margins[243] Goodwill and Impairment - The company's income approach for estimating fair value relies on internal forecasts, including projected net cash flows, long-term growth rate, and a reporting unit-specific discount rate[234] - The company continuously monitors events and circumstances that could impact key assumptions used in estimating the fair value of reporting units, including changes to U.S. treasury rates, equity risk premiums, and tax rates[239] - The company's determination of the fair value of the DWS reporting unit was identified as a critical audit matter in the annual goodwill impairment test[261] Workforce and Restructuring - The company expects to make $9.4 million in payments in 2024 related to workforce reduction actions[203] Cybersecurity - Cybersecurity remains a top priority, with significant improvements made to the security technical stack and processes in 2023[146][149] Tax and Deferred Assets - Deferred tax assets exceeded deferred tax liabilities by $1,263.2 million at December 31, 2023, with a valuation allowance of $1,150.1 million[217] Debt and Financial Instruments - The company's 6.875% senior secured notes due 2027 had a fair value of $437.5 million at December 31, 2023[242]