Alight Inc Stock Price, News & Analysis

Alight (NYSE: ALIT) reported Q3 2024 results with revenue of $555 million, a slight decrease of 0.4% year-over-year. The company achieved notable wins with Hewlett Packard Enterprise, Nokia, and Siemens. BPaaS revenue grew 18.6% to $121 million, representing 21.8% of total revenue. Gross profit margin improved to 31.4% from 29.8%. The company initiated a quarterly dividend program of $0.04 per share and repurchased $75 million of common stock. Alight raised its revenue guidance range for Q4 2024 to $665-685 million, with adjusted EBITDA expected between $208-233 million.

Alight's 2024 International Workforce and Wellbeing Mindset Study reveals a significant decline in employee wellbeing, with only 44% rating their wellbeing positively - a seven-point drop from last year. The study highlights that 41% of employees would reconsider leaving their jobs if offered better benefits, while one in five are actively seeking new employment within the next year.

Key findings show that workers are experiencing increased stress and burnout, with 43% reporting burnout symptoms affecting their work. Financial challenges are prevalent, with nearly half of workers just getting by. The study emphasizes that employers offering comprehensive support tools see better outcomes: 57% of supported employees report positive wellbeing compared to 42% of unsupported employees, and 61% versus 46% rarely consider leaving their current position.

Alight (NYSE: ALIT) has scheduled its third quarter 2024 financial results announcement for Tuesday, November 12, 2024. The company will release results before the market opens, followed by a management discussion webcast at 8:30 a.m. ET. The webcast and financial presentation will be accessible to the public through the Events & Presentations section of the company's website.

Agilis Partners has launched PensionBuilder™, a patent-pending solution providing lifetime retirement income for employees and retirees. The system enables eligible participants to convert defined contribution plan savings into lifetime income through competitive annuity purchases from leading insurers at group pricing rates. Alight Solutions (NYSE: ALIT) will provide comprehensive support services including call center assistance and website management.

PensionBuilder allows participants to select their desired conversion amount and annuity payment form during a time- window. The solution operates outside the plan via Individual Retirement Accounts (IRAs), avoiding in-plan annuity option restrictions. The service comes at no cost to companies, with Agilis acting as a fiduciary in insurer selection.

Lyra Health, a leading provider of Workforce Mental Health solutions, has joined the Alight Partner Network. This collaboration with Alight, Inc. (NYSE: ALIT) aims to expand access to mental health benefits for employees and their families. The partnership offers:

1. Seamless integration via Single Sign-On to Lyra's mental health care within the Alight Worklife® platform
2. Enhanced administrative support with automated eligibility file management
3. Increased cost savings for employers, with every dollar invested in Lyra returning more than $3 in savings

Lyra's services include personalized mental health support for all age groups, with first appointments available within 24 hours. The company's commitment to evidence-based treatments has led to equitable mental health outcomes across race and ethnicity, as demonstrated in 16 published peer-reviewed studies.

Alight, Inc. (NYSE: ALIT) has expanded its Alight Partner Network by adding two innovative partners: Journey and Carrot Fertility. Journey offers a proactive employee assistance program (EAP) focused on comprehensive mental health support, while Carrot Fertility provides global fertility and family-building benefits.

Journey's key features include customized engagement, rapid access to care, global accessibility, and robust preventive digital resources. Carrot Fertility offers personalized care for various family-building stages, global reach with access to over 11,000 clinics across 170+ countries, and regulatory and financial guidance.

These additions aim to enhance employee wellbeing and help employers create a more comprehensive benefits environment within the Alight Worklife® platform.

Alight, Inc. (NYSE: ALIT) announced the results of Forrester's Total Economic Impact™ study, evaluating the ROI of Alight Worklife for employee benefits management. The study, based on a client interview, revealed significant benefits:

• 112% ROI
• $2 million annual health cost savings
• Payback period under 12 months
• $4.8 million net present value over three years

The study highlighted productivity gains of 25% in benefits administration and the platform's integration with over 600 benefits ecosystem programs. Greg Goff, President at Alight, emphasized how their AI-powered solutions are reshaping the benefits landscape, improving financial outcomes and employee experiences.

Alight (NYSE: ALIT), a leading cloud-based human capital technology and services provider, has announced its participation in the Citi Global TMT Conference. The company's CEO, Dave Guilmette, and CFO, Jeremy Heaton, will present at the event on Thursday, September 5, 2024, at 8:20 a.m. ET in New York City.

The presentation will be accessible via live webcast and replay, allowing interested parties to tune in remotely. This participation in a major technology, media, and telecommunications conference highlights Alight's position in the industry and provides an opportunity for investors and analysts to gain insights into the company's strategies and performance.

Alight, Inc. (NYSE: ALIT) has appointed Dave Guilmette as its new Chief Executive Officer, replacing Stephan Scholl as part of a planned succession. Guilmette, who will continue as Vice Chair of the Board, brings extensive experience in the healthcare and benefits industry. He previously served as CEO of Aon's Global Health Solutions division.

The Board of Directors, led by Chair William P. Foley II, expressed confidence in Guilmette's ability to guide Alight forward as a simplified platform company. This transition follows the completion of Alight's technology transformation and the divestiture of its Payroll & Professional Services business.

Alight has reiterated its 2024 second half business outlook, signaling continuity in its financial projections despite the leadership change. The company aims to focus on technology-rich services to enhance competitiveness and deliver greater value to clients.