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 ...

Unisys Corporation (NYSE:UIS) Q1 2024 Earnings Conference Call May 8, 2024 8:00 AM ET Company Participants Michaela Pewarski - VP, IR Peter Altabef - Chair and CEO Deb McCann - EVP and CFO Mike Thomson - President and COO Conference Call Participants Rod Bourgeois - DeepDive Equity Research Arun Seshadri - BNP Paribas Anja Soderstrom - Sidoti Operator Good day. And welcome to the Unisys Corporation First Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructi ...

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]

Unisys Corporation (NYSE:UIS) Q4 2023 Earnings Conference Call February 21, 2024 8:00 AM ET Company Participants Michaela Pewarski - Vice President, Investor Relations Peter Altabef - Chair and Chief Executive Officer Deb McCann - Executive Vice President and Chief Financial Officer Conference Call Participants Rod Bourgeois - DeepDive Equity Research Anja Soderstrom - Sidoti & Company Arun Seshadri - BNP Paribas Operator Good day. And welcome to the Unisys’ Fourth Quarter 2023 Earnings Conference Call. [Op ...

| --- | --- | --- | --- | |-------|---------------------------------------------------|-------|-----------------------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fourth Quarter & Full-Year 2023 Financial Results | | Peter Altabef Chair and CEO | | | | | Deb McCann CFO | | | | | | | | | | FEB 21, 2024 | | --- ...

Revenue Performance - Revenue for Q4 2023 was $557.6 million, a 0.1% YoY increase, but a 2.1% decline in constant currency[3][4] - Revenue for Q4 2023 was $557.6 million, a slight increase from $557.0 million in Q4 2022[24] - Full-year 2023 revenue reached $2,015.4 million, up from $1,979.9 million in 2022[24] - Full-year 2023 revenue was $2,015.4 million, compared to $1,979.9 million in 2022[41] - Full-year revenue growth of 1.8% YoY, or 1.6% in constant currency; Ex-L&S revenue growth of 4.9% YoY[46] - 4Q revenue up 0.1% YoY, a decline of 2.1% in constant currency; 4Q Ex-L&S revenue growth of 6.8% YoY, or 4.3% in constant currency[46] Ex-L&S Revenue - Ex-L&S revenue increased 6.8% YoY to $413.3 million, driven by New Business with existing clients[3][4] - Excluding License and Support (Ex-L&S) revenue for Q4 2023 was $413.3 million, up from $386.9 million in Q4 2022[44] - Ex-L&S Non-GAAP gross profit for Q4 2023 was $68.4 million, compared to $45.7 million in Q4 2022[44] - Ex-L&S Total Contract Value (TCV) increased 27% YoY for the full-year and 137% YoY in the fourth quarter, including New Business TCV growth of 18% YoY for the full-year and 84% YoY in the fourth quarter[46] L&S Revenue - L&S revenue declined 15.2% YoY to $144.3 million, primarily due to the timing of software license renewals[3][4] Digital Workplace Solutions (DWS) - Digital Workplace Solutions (DWS) revenue grew 8.9% YoY to $139.2 million, with a gross profit margin of 15.3%[6][7] Cloud, Applications & Infrastructure Solutions (CA&I) - Cloud, Applications & Infrastructure Solutions (CA&I) revenue was flat at $138.9 million, with a gross profit margin of 16.3%[6][8] Enterprise Computing Solutions (ECS) - Enterprise Computing Solutions (ECS) revenue declined 10.0% YoY to $203.0 million, with a gross profit margin of 67.4%[6][9] Operating Income and Net Loss - Operating income for Q4 2023 was $44.0 million, down from $50.0 million in Q4 2022[24] - Full-year 2023 operating income was $76.9 million, compared to $52.2 million in 2022[24] - Consolidated net loss for Q4 2023 was $164.2 million, compared to a net income of $8.8 million in Q4 2022[24] - Full-year 2023 consolidated net loss was $427.1 million, compared to a net loss of $104.9 million in 2022[24] - Net loss attributable to Unisys Corporation for Q4 2023 was $165.3 million, compared to a net income of $8.5 million in Q4 2022[37] - Full-year 2023 net loss attributable to Unisys Corporation was $430.7 million, compared to a net loss of $106.0 million in 2022[37] Gross Profit and Margins - Gross profit percentage for Q4 2023 was 32.5%, down from 34.1% in Q4 2022[30] - Full-year 2023 gross profit percentage was 27.4%, up from 26.7% in 2022[30] - Full-year operating profit margin of 3.8%; non-GAAP operating profit margin of 7.0%[46] Cash Flow and Free Cash Flow - Full-year 2023 free cash flow improved by $68.7 million YoY to ($4.5) million, driven by working capital improvements[10] - Net cash provided by operating activities for 2023 was $74.2 million, compared to $12.7 million in 2022[34] - Full-year 2023 free cash flow improved by nearly $70 million year-over-year, reaching $120.5 million[45] - Full-year operating cash flow of $74.2 million compared to $12.7 million for 2022, and free cash flow of ($4.5) million compared to ($73.2) million for 2022[46] - Free cash flow represents cash flow from operations less capital expenditures[47] - Adjusted free cash flow excludes postretirement funding, legal matters, environmental costs, and cost-reduction activities[47] Backlog and Contract Value - Backlog increased to $3.01 billion in Q4 2023, up from $2.92 billion in Q4 2022, driven by Ex-L&S contract renewals and New Business signings[15] - New Business Total Contract Value (TCV) increased by 18% year-over-year in 2023[45] Pension and Non-Cash Losses - Non-cash pension settlement losses of $348.2 million were recorded in 2023 due to the purchase of annuity contracts[12] - Pension liabilities of approximately $500 million were transferred to a third-party insurer through annuity purchases in 2023[45] Guidance and Future Expectations - 2024 revenue growth guidance is (1.5)% to 1.5% in constant currency, with Ex-L&S revenue growth expected to be 1.5% to 5.0%[16] - Full-year 2024 guidance of (1.5)% to 1.5% YoY constant currency revenue growth and 5.5% to 7.5% non-GAAP operating profit margin[46] - Constant currency revenue guidance implies (1.0)% to 2.0% revenue growth as reported, with Ex-L&S full-year revenue growth of 1.5% to 5.0% and L&S revenue of approximately $375 million[46] Non-GAAP Metrics - Non-GAAP net income attributable to Unisys Corporation for Q4 2023 was $35.4 million, down from $82.8 million in Q4 2022[37] - Adjusted EBITDA for Q4 2023 was $100.4 million, down from $148.7 million in Q4 2022[41] - Non-GAAP net income and diluted EPS exclude postretirement expense, legal matters, environmental costs, and cost-reduction activities[47] Cash and Cash Equivalents - Cash and cash equivalents at the end of 2023 were $387.7 million, slightly down from $391.8 million at the end of 2022[32]

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 For the quarterly period ended September 30, 2023 or ☐ 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 jurisdict ...

Financial Data and Key Metrics - Third quarter revenue increased 0.7% year-over-year as reported but declined 1.4% in constant currency [7] - Excluding License & Support (Ex-L&S), revenue grew 6.2% year-over-year or 4.1% in constant currency [7] - License & Support revenue was $67 million in Q3, significantly higher than the $50 million expectation [8] - Year-to-date revenue was $1.46 billion, up 2.5% year-on-year or 3.1% in constant currency [21] - Third quarter GAAP net loss was $50 million, compared to a loss of $40 million a year ago [23] - Non-GAAP net loss was $22 million or a loss of $0.33 per share [23] - Cash balances were $385 million as of September 30th, compared to $392 million at the end of 2022 [24] Business Line Performance - Digital Workplace Solutions (DWS) segment revenue was $141 million, up 6.2% year-over-year [55] - Cloud Applications & Infrastructure (CA&I) segment revenue was $134 million, up 8.7% year-over-year [55] - Enterprise Computing Solutions (ECS) segment revenue declined 14.2% year-over-year [55] - Next-Gen specialized services and Next-Gen compute solutions within ECS grew 5.2% year-over-year [39] - License & Support revenue within ECS declined 25.3% year-over-year due to timing of renewals [39] Market Performance - New scope and new logo Total Contract Value (TCV) increased 22% sequentially [2] - Next-generation pipeline grew 50% year-over-year [3] - Qualified Ex-L&S pipeline is up 18% versus a year ago, with 47% of pipeline TCV in next-generation offerings [18] - Modern workplace pipeline has more than tripled over the last 12 months [57] Strategic Direction and Industry Competition - The company is building an ecosystem of specialized public sector software partners [5] - Unisys is focusing on AI, including generative AI, and services related to enterprise AI adoption [5] - The company launched Unisys Logistics Optimization, a solution combining AI, quantum computing, and industry expertise [6][30] - Unisys is infusing generative AI into its industry solutions and internal functions like HR [31] Management Commentary on Operating Environment and Future Outlook - The company raised full-year 2023 revenue guidance to 0% to 1.5% growth in constant currency [72] - Full-year profitability guidance was raised to a non-GAAP operating margin of 5% to 6% and adjusted EBITDA margin of 12.5% to 13.5% [44] - The company expects full-year 2023 free cash flow to be in the range of negative $25 million to negative $30 million [33] - Management highlighted strong client consumption trends and increased usage of ClearPath Forward systems [36][46] Other Important Information - The company is investing in talent development, with a trailing 12-month voluntary attrition rate of 13.3%, down from 18.9% a year ago [13] - Unisys won four prestigious HR awards during the quarter, recognizing excellence in diversity, hiring, and leadership [38] - The company is targeting SG&A reductions to bring SG&A down to 16% to 17% of revenue by 2026 [59] Q&A Session Summary Question: Connection between TCV and revenue outlook - The company raised revenue guidance based on year-to-date performance, not just TCV growth [27][62] - October TCV signings already exceeded the entire Q3 TCV, indicating a strong Q4 [29] Question: Employee experience market and AI opportunities - The company is seeing strong demand in the employee experience market, with discussions focusing on productivity and value [63][67] - AI-related opportunities are driving cross-sell opportunities across business units [67] Question: October bookings activity and macro trends - The strong October bookings were driven by the timing of sales cycles and not necessarily macro trends [76][77] Question: L&S revenue outperformance and future outlook - Q3 L&S revenue outperformance was $17 million, with additional upside from an extended contract signed in October [87] - The company expects L&S revenue to average $360 million annually over the next three to five years [35][105] Question: Consumption volumes and margins in L&S - Consumption margins are similar to overall L&S business margins [83] - Longer-term contracts are not significantly discounted and often come with pricing increases upon renewal [70] Question: New logo acquisition trends - The company expects an uptick in new logo acquisitions in Q4 and is seeing momentum in its go-to-market strategy [101][109]

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 For the quarterly period ended June 30, 2023 or ☐ 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) Indicate by check mark whether the registrant has ...