Alight Inc Stock Price, News & Analysis

Alight, a leading cloud-based human capital technology and services provider, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference. The company's President, Greg Goff, will be presenting at the event on Tuesday, August 13, 2024, at 9 a.m. ET in Boston.

This presentation offers an opportunity for investors and industry professionals to gain insights into Alight's growth strategies and market position. The event will be accessible via live webcast, allowing remote attendance for those unable to be present in person. Additionally, a replay of the presentation will be available for those who cannot attend the live session.

Alight's participation in this prestigious conference underscores its commitment to engaging with the investment community and showcasing its innovative solutions in the human capital technology sector.

Alight Inc (NYSE: ALIT) reported Q2 2024 results for continuing operations, with revenue decreasing 4.1% to $538 million. BPaaS revenue grew 12.7% to $115 million, representing 21.4% of total revenue. The company announced a CEO succession plan, with Stephan Scholl stepping down after a successor is named. Key wins included UPS, Wayfair, American Honda Motor Company, and The Adecco Group. Alight repurchased $80 million of common stock and completed its cloud migration program. The company provided a second half 2024 outlook, projecting revenue of $1.207-$1.232 billion and adjusted EBITDA of $326-$351 million. Alight also completed the sale of its Payroll and Professional Services business in July 2024.

Alight, Inc. (NYSE: ALIT) has announced the second major release of Alight Worklife for 2024, its employee experience platform. The update focuses on increasing efficiency, enhancing user experience, and enabling smarter benefits decisions. Key features include:

1. AI-powered automation for spending account claims, improving accuracy and speed of reimbursements.

2. Seamless mobile experience with native document upload and photo capture for claims submission.

3. Two-way, real-time integration for faster Evidence of Insurability (EOI) decisions.

4. Advanced search enhancements and expanded vendor integrations.

5. Enhanced Healthcare Navigation with improved Health Pro Connection experience.

6. Integrated Provider Quality Search during Annual Enrollment.

7. Online retirement kits and after-tax automatic conversion to Roth for defined contribution plans.

Alight (NYSE: ALIT) has announced that it will release its second quarter 2024 results before the market opens on Tuesday, August 6, 2024. Following the release, the company's management will host a webcast at 8:30 a.m. ET to discuss the results. Investors and interested parties can access the webcast and accompanying presentation of financial information through the 'Events & Presentations' section of Alight's website. This announcement provides shareholders and analysts with a clear timeline for when to expect Alight's latest financial performance data and the opportunity to hear directly from management about the company's progress and outlook.

Alight (NYSE: ALIT) has finalized the sale of its Professional Services segment and Payroll & HCM Outsourcing businesses to an affiliate of H.I.G. Capital for up to $1.2 billion. The transaction includes $1 billion in cash upfront and up to $200 million in seller notes, contingent on performance targets for 2025. Most proceeds will reduce Alight's debt, lowering its net leverage ratio below three times. The remaining funds will go toward share repurchases and general corporate needs. CEO Stephan Scholl highlighted this move as a strategic step to simplify Alight's focus on employee wellbeing and benefits. A webcast will be posted on July 18, 2024, detailing pro forma results.

Alight, a cloud-based human capital technology provider, has announced a $75 million accelerated share repurchase agreement (ASR) with Barclays Bank PLC. This deal is part of Alight's existing share repurchase program, which had a remaining authority of $168 million as of June 14, 2024. Alight will make an initial payment of $75 million and receive shares worth 80% of this amount based on the closing share price on July 15, 2024. The final share count will be determined by the volume-weighted average price during the term, with the transaction expected to settle in Q3 2024. Alight can terminate the ASR before July 15, 2024.

CEO Stephan Scholl highlighted that the agreement reflects confidence in Alight's business and aligns with their goal of enhancing shareholder value through strategic operations and improved cash flow.

Edward Auriemma will join Körber on 08 July 2024 as the new CEO of its supply chain software business, a joint venture with KKR. Edward brings significant experience from his previous roles, including Chief Operating Officer at Blue Yonder, where he enhanced global operations and market standing, and Chief Operations Officer at Alight Solutions, leading them to a successful public listing on the NYSE (ALIT). Stephan Seifert, CEO of Körber Group, expressed enthusiasm for Edward's appointment, emphasizing his market knowledge and strategic growth capabilities. Edward aims to drive innovation and efficiency within Körber's supply chain software sector.

Alight (NYSE: ALIT) released its 2024 Global Impact Report, emphasizing its 2023 achievements and future plans in environmental, social, and governance (ESG) areas.

The report highlights Alight's formalized ESG strategy, focusing on championing people, social innovation, and responsible business practices. Key 2023 accomplishments include publishing a Human Rights Policy, launching Alight's first Diversity Report, and enhancing the Alight Worklife platform for employee well-being. The company also committed to using 100% renewable electricity by 2032 and formalized its AI policy for ethical use of technology.

In 2024, Alight conducted a double materiality assessment to identify critical ESG factors, which will shape its strategic roadmap. The strategy will focus on six areas: empowering healthy minds, bodies, wallets, and lives; increasing diversity; colleague development; sustainable innovation; ethical practices; and reducing environmental impact.

Alight (NYSE: ALIT), a cloud-based human capital technology and services provider, announced that CEO Stephan Scholl and CFO Jeremy Heaton will present at the 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference. The event is scheduled for Tuesday, May 21, 2024, at 8:50 a.m. ET, and will be available via live webcast.