Want more information about Conduent's business or solutions? However, these non-GAAP financial measures should be viewed in addition to, and not as a substitute for, the Companys reported results prepared in accordance with U.S. GAAP. In accordance with the provisions of the Litigation Reform Act, we are making investors aware that such forward-looking statements, because they relate to future events, are by their very nature subject to many important factors and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements contained in this press release, any exhibits to this press release and other public statements we make. Compensation of our executives is based in part on the performance of our business based on certain of these non-GAAP measures. 245 0 obj <>/Filter/FlateDecode/ID[<629C86D788644B4A866D507855ED20DA>]/Index[223 39]/Info 222 0 R/Length 108/Prev 201009/Root 224 0 R/Size 262/Type/XRef/W[1 3 1]>>stream Conduent operates in many countries around the world with focus on broad industries, making the difference in the lives of millions every day. FLORHAM PARK, N.J., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Conduent (NASDAQ: CNDT), a business process services and solutions company, today announced its fourth quarter and full year 2021 financial results. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Management believes that these non-GAAP financial measures provide an additional means of analyzing the results of the current period against the corresponding prior period. *Please select location from the dropdown. Environmental Protection This policy commits to reducing our impact on the environment through: Mitigating climate change through cleaner energy, where practicable, and managing emissions effectively you just have to provide the internet. Management cautions that amounts presented in accordance with Conduent's definition of Adjusted EBITDA and Adjusted EBITDA Margin may not be comparable to similar measures disclosed by other companies because not all companies calculate Adjusted EBITDA and Adjusted EBITDA Margin in the same manner. This represents Goodwill impairment charges related to the unanticipated losses of certain customer contracts, lower potential future volumes and lower than expected new customer contracts for all reporting units. These reconciliations also include the income tax effects for our non-GAAP performance measures in total, to the extent applicable. Conduent will not ask you purchase equipment to start working. Learn more at www.conduent.com. Our client satisfaction ratings have increased for the third consecutive year, contributing to new client wins and better retention which in turn, resulted in the Net ARR Activity metric being positive for the fifth consecutive quarter. Amortization of acquired intangible assets. Free Cash Flow and Adjusted Free Cash Flow Reconciliation: Thank you. 4. He got a better offer and no longer wants to work with Conduent. Compensation of our executives is based in part on the performance of our business based on certain of these non-GAAP measures. The metric annualizes the net impact to revenue. In addition, for "Full Year 2021 (Ex Midas)" we are excluding the estimated impacts of $70 million of Revenue and $29 million of Adjusted EBITDA related to the divestiture of the Midas business. We refer to this adjusted revenue as constant currency. Currency impact is determined as the difference between actual growth rates and constant currency growth rates. In order to provide a meaningful basis for comparison, we are providing information with respect to our Free Cash Flow reconciled to cash flow provided by operating activities, which we believe to be the most directly comparable measure under U.S. GAAP. Space where no one can see your work station that is quiet and private. The costs include writing off previously capitalized costs and remaining hosting fees that would have continued to be incurred without any economic benefit. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) ( 1). Hourly pay at Conduent Inc. ranges from an average of $12.33 to $25.11 an hour. Q1 2022 Performance Commentary Cliff Skelton, Conduent President & CEO stated, "Q3 2022 was a solid quarter for Conduent, continuing to deliver on our financial and client commitments. FLORHAM PARK, N.J., Nov. 01, 2022 (GLOBE NEWSWIRE) -- Conduent (NASDAQ: CNDT), a global technology-led business process solutions company, today announced its third quarter 2022 financial results. We have added certain adjustments to account for items which we do not believe reflect our core business or operating performance, and we computed all periods with such adjusted costs. Q4 and Full Year 2021 Performance Commentary Conduent Blog Return to Work 2020: 6 Imperatives for HR Managers Return to Work 2020: 6 Imperatives for HR Managers Published DateAugust 21, 2020 As HR leaders prepare for the next major shift, here are six imperatives that are guiding many of the mission-critical decisions that are happening right now. (1) All amounts are net of tax. Amortization of acquired intangible assets. 6) Accelerate workforce transformation Conduent Announces First Quarter 2022 Financial Results, Conduent to Report First-Quarter 2023 Financial Results on May 3, 2023, Conduent to Host Virtual Investor Briefing on March 30, 2023, Conduent Reports Fourth Quarter and Full Year 2022 Financial Results, Cost of services (excluding depreciation and amortization), Selling, general and administrative (excluding depreciation and amortization), Research and development (excluding depreciation and amortization), (Gain) loss on divestitures and transaction costs, Shares of common stock issued and outstanding, Shares of series A convertible preferred stock issued and outstanding. equipment in a safe manner, and that the items/services furnished will be (i) in full compliance with Buyer's . The Official website of U.S. Army Garrison Bavaria. Jul 2018 Solo. About Conduent Conduent delivers mission-critical services and solutions on behalf of businesses and governments - creating exceptional outcomes for its clients and the millions of people who count on them. Purchase Order Terms and Conditions . Abandonment of Cloud Computing Project. Everything is done online, including the calls. Litigation costs (recoveries), net represents provisions for various matters subject to litigation. (1) Includes $5 million and $10 million restricted cash as of March 31, 2022 and 2021, respectively, that were included in Other current assets on their respective Condensed Consolidated Balance Sheets. Management will present the results during a conference call and webcast on February16, 2022 at 5:00 p.m. We make adjustments to Revenue, Costs and Expenses and Operating Margin, as applicable, for the following items, for the purpose of calculating Adjusted Revenue, Adjusted Operating Income and Adjusted Operating Margin: We provide our investors with adjusted revenue, adjusted operating income and adjusted operating margin information, as supplemental information, because we believe it offers added insight, by itself and for comparability between periods, by adjusting for certain non-cash items as well as certain other identified items which we do not believe are indicative of our ongoing business, and may also provide added insight on trends in our ongoing business. Cliff Skelton, Conduent President and CEO stated, Q1 2022 was another solid quarterwhere we met or exceeded expectations. . Hi there, My fiance has been trying to get ahold of someone from Conduent HR to return his computer and equipment they sent him. Non-GAAP Reconciliations: Adjusted Weighted Average Shares Outstanding, Adjusted Diluted EPS, Adjusted Effective Tax Rate, Adjusted Operating Margin and Adjusted EBITDA Margin were as follows: (1) Average shares for the 2021 and 2020 calculation of adjusted EPS excludes 5.4 million shares associated with our Series A convertible preferred stock and includes the impact of preferred stock dividend of approximately $3 million and $10 million for the three months and years ended December 31, 2021 and 2020, respectively. Such as with Free Cash Flow information, as so adjusted, it is specifically not intended to provide amounts available for discretionary spending. New business sales were strong, with Total Contract Value signed in the quarter increasing by more than 30 percent year-over-year, representing our highest-ever Q1 performance. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions, and providing such non-GAAP financial measures to investors allows for a further level of transparency as to how management reviews and evaluates our business results and trends. We are not paying $1,000 or getting in trouble for something we've tried to solve. This metric is not indicative of any specific 12 month timeframe. Management believes that these non-GAAP financial measures provide an additional means of analyzing the results of the current period against the corresponding prior period. Contact Us Your Experienced Partner: More than 44,000 multi-skilled interaction specialists 200+ languages supported 1 billion customer communications handled by our contact centers annually 26 billion The computers are always breaking and there isn't assign seating so who knows what kind of germs you pick up. Such as with Free Cash Flow information, as so adjusted, it is specifically not intended to provide amounts available for discretionary spending. In order to provide a meaningful basis for comparison, we are providing information with respect to our Free Cash Flow reconciled to cash flow provided by operating activities, which we believe to be the most directly comparable measure under U.S. GAAP. This metric is not indicative of any specific 12 month timeframe. The income tax effects are calculated under the same accounting principles as applied to our reported pre-tax performance measures under ASC 740, which employs an annual effective tax rate method. Together, we make a difference in the lives of millions every day. We recently announced our intention to separate the Transportation business to unlock additional value and we believe the best course of action will be to spin that business as opposed to a sale, at this point in time. ET. Through our dedicated people, process and technology, Conduent solutions and services automate workflows, improve efficiencies, reduce costs and enable revenue growth. A recording of the conference call will be available by calling 1-877-660-6853 one hour after the conference call concludes. We refer to this adjusted revenue as constant currency. Currency impact is determined as the difference between actual growth rates and constant currency growth rates. Conduent delivers mission-critical services and solutions on behalf of businesses and governments creating exceptional outcomes for its clients and the millions of people who count on them. 6. Anyone got any advice or an idea of where to send it back to? Adjusted EBITDA is not intended to represent cash flows from operations, operating income (loss) or net income (loss) as defined by U.S. GAAP as indicators of operating performance. 2 0 obj Promote health and wellness benefits The MA market has been dominated by a handful of large healthcare plans, but as demand for these plans grows, more and more regional plans and startups are seeing opportunities to enter the market. Interest expense. Based on past reported results, where one or more of these items have been applicable, such excluded items could be material, individually or in the aggregate, to reported results. 2021 full year sales performance was up 16% in new business ARR, with TCV ending at $1,785M, 8% lower than prior year period. Is your organization ready for the return to work? Ultimately, CXM is about the ability to demonstrate that you can deliver optimal value to customers and extract optimal value from those interactions. In addition, all statements regarding the anticipated effects of the novel coronavirus, or COVID-19, pandemic and the responses thereto, including the pandemics impact on general economic and market conditions, as well as on our business, customers, and markets, results of operations and financial condition and anticipated actions to be taken by management to sustain our business during the economic uncertainty caused by the pandemic and related governmental and business actions, as well as other statements that are not strictly historical in nature, are forward looking. Conduent Inc. employees with the job title Customer Service Representative (CSR) make the most with an average. endobj New Business ACV of $180M increased for the fourth consecutive quarter, with strong contributions of $124M from the Commercial segment. We have added certain adjustments to account for items which we do not believe reflect our core business or operating performance, and we computed all periods with such adjusted costs. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Our team of child support subject matter experts participate in the conference and other NCSEA activities throughout the year. ". Interest expense. hb```ul@(1kE=j9w``QbxNWIIXG5 5KYXt(e,X.f}4_a%>7200RL3*FO H0 We make adjustments to Net Income (Loss) before Income Taxes for the following items, as applicable, to the particular financial measure, for the purpose of calculating Adjusted Revenue, Adjusted Net Income (Loss), Adjusted Diluted Earnings per Share, Adjusted Weighted Average Common Shares Outstanding, and Adjusted Effective Tax Rate: The Company provides adjusted net income and adjusted EPS financial measures to assist our investors in evaluating our ongoing operating performance for the current reporting period and, where provided, over different reporting periods, by adjusting for certain items which may be recurring or non-recurring and which in our view do not necessarily reflect ongoing performance. . %PDF-1.6 % Cliff Skelton, Conduent President and CEO stated, In 2021, we met or exceeded our commitments. All Conduent employees are responsible for energy conservation. Learn more at https://www.conduent.com . However, these non-GAAP financial measures should be viewed in addition to, and not as a substitute for, our reported results prepared in accordance with U.S. GAAP. A description of the adjustments which historically have been applicable in determining Adjusted EBITDA are reflected in the table below. Adjustments required to reconcile net income (loss) to cash flows from operating activities: (Gain) loss on divestitures and sales of fixed assets, net, Changes in operating assets and liabilities, Net cash provided by (used in) operating activities, Cost of additions to land, buildings and equipment, Cost of additions to internal use software, Net cash provided by (used in) investing activities, Net cash provided by (used in) financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, Increase (decrease) in cash, cash equivalents and restricted cash, Cash, Cash Equivalents and Restricted Cash at Beginning of Period, Amortization of acquired intangible assets, Divestitures depreciation and amortization, Restricted stock and performance units / shares, EBITDA Margin Before Adjustment for Divestitures, Portion of Texas litigation settlement (recoveries) recognized in Litigation settlements (recoveries), net, Annual Recurring Revenue (ARR) signings: $107M, Total Contract Value (TCV) new business signings: $464M, Recognized as a Supplier of the Year by General Motors for the second year in a row, Named a Leader on Everest Group Healthcare Payer Operations PEAK Matrix Assessment 2022, Recognized as a Rising Leader CX Operations Transformation - Cost Optimization Capability by NelsonHall, Named a Top 15 Service & Technology Provider Standout by the U.S. Information Services Group (ISG), Named to Government Technology magazines 2022 GovTech 100 for making a difference in working with state and local government agencies across the United States, Earned a perfect score of 100 on the Human Rights Campaign Foundations 2022 Corporate Equality Index (CEI), measuring policies and practices related to LGBTQ workplace equality, Honored by Comparably with two Best Places to Work Awards for 2021, including one of the Best Companies for Women and one of the Best Companies for Diversity, placing Conduent among the Top 100 highest-rated companies in these categories. Prepare for the next wave Sales performance was up 32% in new business TCV signings at $464M, with new business ARR up 14% at $107M versus Q1 2021. In providing the outlook for Adjusted EBITDA we exclude certain items which are otherwise included in determining the comparable U.S. GAAP financial measure. We strive to create a culture where our associates feel appreciated and can thrive, personally and professionally. Client Relationship Management and Service Delivery, Professional Services and Project Management. He got the equipment, but now wants to send it back. We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. We use Adjusted EBITDA and Adjusted EBITDA Margin as an additional way of assessing certain aspects of our operations that, when viewed with the U.S. GAAP results and the accompanying reconciliations to corresponding U.S. GAAP financial measures, provide a more complete understanding of our on-going business. We have reported our financial results in accordance with U.S. generally accepted accounting principles (U.S. GAAP). Non-GAAP Financial Measures Management believes that the adjusted effective tax rate, provided as supplemental information, facilitates a comparison by investors of our actual effective tax rate with an adjusted effective tax rate which reflects the impact of the items which are excluded in providing adjusted net income and certain other identified items, and may provide added insight into our underlying business results and how effective tax rates impact our ongoing business. Non-GAAP Financial Measures Additional Q1 2022 Performance Highlights About Conduent C ommunity Huddle Find information on events and updates that are happening this month.. Rose/Tower Barracks meetings are conducted on the fourth Wednesday of the month.. Hohenfels meetings are conducted every quarter.. Garmisch-Partenkirchen Town Hall.. Interest expense includes interest on long-term debt and amortization of debt issuance costs. Principles and guidelines to jumpstart your organizations commitment to equity in the workplace. Monitor workplace health using scalable solutions Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable U.S. GAAP measures and should be read only in conjunction with our Consolidated Financial Statements prepared in accordance with U.S. GAAP. We have provided an outlook for revenue on a constant currency basis due to the inability to accurately predict foreign currency impact on revenues. Any forward-looking statements made by us in this release speak only as of the date on which they are made. The Net ARR Activity Metric for Q1 2022 was $102M, up 17% versus Q1 2021 and continues to be positive. Learn more about interviews at Conduent Answered November 13, 2017 - Customer Service Representative (Former Employee) - Fresno, CA It is usually a 3 week process, by the time you get a call back, get the interview, get a call back then and then take the drug test and the background check. Conduent Seamless Transportation System is a universal system for secure, ticketless public transport and service payments by smartphone. We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. In 2021, Conduent Transportation identified an opportunity to help address violence against women, girls, and vulnerable people by expanding the Ask for Angela campaign beyond the hospitality industry, The month of December is a busy month, filled with holidays and celebrations, many of which include gift-giving and good food -- lots and lots of good food! Adjusted Free Cash Flow is defined as Free Cash Flow from above plus deferred compensation payments, transaction costs, costs related to the Texas litigation, and certain other identified adjustments. Other charges (credits). We use Adjusted Free Cash Flow, in addition to Free Cash Flow, to provide supplemental information to our investors concerning our ability to generate cash from our ongoing operating activities and for performance based components of employee compensation; by excluding these items, we believe we provide useful additional information to our investors to help them further understand our ability to generate cash period-over-period as well as added information on comparability to our competitors. Important factors and uncertainties that could cause our actual results to differ materially from those in our forward-looking statements include, but are not limited to: the significant continuing effects of the ongoing COVID-19 pandemic on our business, operations, financial results and financial condition, which is dependent on developments which are highly uncertain and cannot be predicted; government appropriations and termination rights contained in our government contracts; our ability to renew commercial and government contracts, including contracts awarded through competitive bidding processes; our ability to recover capital and other investments in connection with our contracts; our reliance on third-party providers; our ability to deliver on our contractual obligations properly and on time; changes in interest in outsourced business process services; risk and impact of geopolitical events, natural disasters and other factors (such as pandemics, including coronavirus) in a particular country or region on our workforce, customers and vendors; claims of infringement of third-party intellectual property rights; our ability to estimate the scope of work or the costs of performance in our contracts; the loss of key senior management and our ability to attract and retain necessary technical personnel and qualified subcontractors; increases in the cost of telephone and data services or significant interruptions in such services; our failure to develop new service offerings and protect our intellectual property rights; our ability to modernize our information technology infrastructure and consolidate data centers; the failure to comply with laws relating to individually identifiable information and personal health information; the failure to comply with laws relating to processing certain financial transactions, including payment card transactions and debit or credit card transactions; breaches of our information systems or security systems or any service interruptions; our ability to comply with data security standards; changes in tax and other laws and regulations; risk and impact of potential goodwill and other asset impairments; our significant indebtedness; our ability to obtain adequate pricing for our services and to improve our cost structure; our ability to collect our receivables, including those for unbilled services; a decline in revenues from, or a loss of, or a reduction in business from or failure of significant clients; fluctuations in our non-recurring revenue; our failure to maintain a satisfactory credit rating; our ability to receive dividends or other payments from our subsidiaries; developments in various contingent liabilities that are not reflected on our balance sheet, including those arising as a result of being involved in a variety of claims, lawsuits, investigations and proceedings; conditions abroad, including local economics, political environments, fluctuating foreign currencies and shifting regulatory schemes; changes in government regulation and economic, strategic, political and social conditions; changes in the volatility of our stock price and the risk of litigation following a decline in the price of our stock; uncertainty regarding whether the proposed separation of the Transportation business will be commenced or completed and the timing and value of such transaction; and other factors that are set forth in the Risk Factors section, the Legal Proceedings section, the Management's Discussion and Analysis of Financial Condition and Results of Operations section and other sections in our 2021 Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission. This currency impact is calculated by translating the current period activity in local currency using the comparable prior-year period's currency translation rate. Conduent (CNDT) Q4 2022 Earnings Call Transcript. ah ja, SS-Kaserne, Sued-Kaserne or Merril-Barracks, good memories in the mid-70s, early -80s! This includes Other (income) expenses, net on the Condensed Consolidated Statements of Income (loss) and other insignificant (income) expense associated with providing transition services on the California Medicaid contract loss and other adjustments. Our people, processes and solutions can help you deliver personalized experiences to those you serve. We use the non-GAAP measure of Free Cash Flow as a criterion of liquidity. We use Adjusted Free Cash Flow, in addition to Free Cash Flow, to provide supplemental information to our investors concerning our ability to generate cash from our ongoing operating activities and for performance based components of employee compensation; by excluding certain deferred compensation costs and our one-time Texas settlement costs, as well as transaction costs and transaction cost tax benefits related to acquisitions or divestitures, we believe we provide useful additional information to our investors to help them further understand our ability to generate cash period-over-period as well as added information on comparability to our competitors. This metric excludes COVID-related volume impacts and non-recurring revenue signings. 4. See below for sales and support contact options. This years Earth Day theme is Invest in Our Planet, which serves as a reminder that, like most of the important things we rely on, we should not take our planets resources for granted. The international conference ID is also 13725756. To better understand trends in our business, we believe that it is helpful to adjust revenue to exclude the impact of changes in the translation of foreign currencies into U.S. McKinsey, Executive Survey, June 2020 My fiance has been trying to get ahold of someone from Conduent HR to return his computer and equipment they sent him. Centers for Disease Control and Prevention, COVID-19 Pandemic Planning Scenarios, July 2020, 5. The replay ID is 13725756. The Pros and Cons of Working From Home Working from home can be an appealing career move. xZ[O~G?}t+HvvYF86!TU3@fh=c{\_WW}u3{u_v #yw'+d3nw|wtw 3N/vw1Tf~~9g&g_SwrE]\$OX?v[@psRD&7MKNj_fK$&\:gtI`U h^On| vQbGRr2"H[le(#(F(r< $N':iSa7=X`U7p^']*DR_HWp=5%0LL7 >. IF YOU HAVE ANY CONCERNS ABOUT COMMUNICATIONS FROM RECRUITERS CLAIMING TO BE FROM CONDUENT, PLEASE DONT HESITATE TO VERIFY BY CONTACTING CONDUENT HR AT: RECRUITMENTFRAUD@CONDUENT.COM. Our actual results may vary materially from those expressed or implied in our forward-looking statements. Conduent GSP February 2021 . Adjusted EBITDA represents income (loss) before interest, income taxes, depreciation and amortization and contract inducement amortization adjusted for the following items. We focused on execution, efficiency, driving improved client and end-user experiences and received recognition for our culture, technology-enabled solutions and overall delivery excellence. That building is gone now like quite a few others, it's a parking . 321 0 obj <>stream Adjusted EBITDA Margin is Adjusted EBITDA divided by revenue or adjusted revenue, as applicable. Conduent and Conduent Agile Star are trademarks of Conduent, Inc. and/or its subsidiaries in the United States and/or other countries. We tried calling him (37 times) and he won't answer his phone and his voicemail isnt set up. Amortization of acquired intangible assets. Conference Call We are providing such outlook only on a non-GAAP basis because the Company is unable to predict with reasonable certainty the totality or ultimate outcome or occurrence of these adjustments for the forward-looking period, which can be dependent on future events that may not be reliably predicted. When you join Conduent, you are engaged in creating the future - both our company's and your own. Our actual results may vary materially from those expressed or implied in our forward-looking statements.
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