Conduent(US:CNDT)2024-08-07 18:16Financial Performance - Adjusted Revenue for Q2 2024 was $811 million [5], a decrease of 4.7% year-over-year [11] - Adjusted EBITDA for Q2 2024 was $29 million [5], a decrease of 54.7% year-over-year [12] - The Adjusted EBITDA margin for Q2 2024 was 3.6% [5] - The company is targeting revenue between $3325 million and $3375 million for FY 2024 [24] - The company is targeting an Adjusted EBITDA margin between 4% and 5% for FY 2024 [24] Sales Metrics - New business signings ACV (Annual Contract Value) for Q2 2024 was $142 million [5] - Net ARR (Annual Recurring Revenue) Activity Impact (TTM - Trailing Twelve Months) was $(49) million [5] - Q2 2023 New Business TCV (Total Contract Value) was $1345 million, while Q2 2024 was $276 million [11] Divestiture and Capital Deployment - The company has deployed 66% of its $1 billion capital target as of June 30, 2024 [6] - Approximately 57 million shares have been repurchased [6] - Debt repayment has led to lower leverage over time [6] Balance Sheet and Cash Flow - Adjusted Free Cash Flow for Q2 2024 was $(55) million [17] - The company had $307 million of cash at the end of Q2 2024 [17] - The net adjusted leverage ratio was 1.7x [17] - Debt Prepayment was $300 million [17]