Conduent Inc Stock Price, News & Analysis

Conduent (NASDAQ: CNDT) reported Q1 2022 revenue of $967M, down 5.9% year-over-year, while adjusted revenue was $960M, a decline of 5.0%. Net income surged 1336.4% to $136M, primarily due to gains on the Midas divestiture. The adjusted EBITDA margin improved to 11.1% from 10.4%. New business signings saw a significant boost, with a 32% increase in total contract value to $464M. The company anticipates FY 2022 adjusted revenue between $3.825B and $3.975B, reflecting ongoing strategic adjustments, including the planned separation of the Transportation business.

Conduent has secured a 10-year contract with Montgomery County, Maryland, to supply automated speed and red-light camera systems, enhancing traffic safety. This renewal extends a partnership that began in 2007, during which the county's program saw a 62% decrease in speeding at camera sites and a 39% reduction in serious crashes. The program currently operates 77 speed cameras and 50 red-light cameras, with plans to double these numbers. The total contract value is approximately $116 million, consisting of a 5-year base term and five 1-year options.

Conduent Incorporated (Nasdaq: CNDT) has introduced two enhancements to its Strataware® medical bill review platform aimed at increasing efficiency in the workers compensation sector. The new features, Strataware Relatedness and Strataware Rarity, utilize advanced algorithms and automation to identify unrelated medical charges, addressing the complexity brought on by COVID-19 and an aging workforce. A study of over 1 million bills revealed 33% contained unrelated charges, while 10% had rare diagnosis codes, leading to potential cost savings for clients.

Conduent (Nasdaq: CNDT) is set to announce its first-quarter 2022 financial results on May 3, 2022, following market close. A conference call and webcast will take place at 5:00 p.m. ET to discuss the results, accessible via dial-in or live audio cast. Conduent specializes in business process services and solutions, serving many Fortune 100 companies and over 500 government entities. Their services enhance efficiency and reduce costs, processing approximately $10 billion in annual toll transactions and achieving up to 40% efficiency increases in HR operations.

Conduent Transportation has successfully implemented an EMV contactless payment system across the STAR public transport network in Rennes Métropole, France, enabling 353,000 daily riders to use contactless cards, transit cards, and NFC-enabled devices for fare payments. This project includes over 1,500 validators across buses and the metro. Conduent's technology simplifies access for users, with the system being the largest of its kind in France. Conduent serves over 400 transit networks globally, enhancing transit experience and supporting smart city initiatives.

Conduent (Nasdaq: CNDT) announced its plans to separate its Transportation business through a sale or spin-off. This strategic move aims to enhance shareholder value and create focused operating models tailored for the Commercial, Government, and Transportation sectors. CEO Cliff Skelton emphasized that the separation aligns with the growth profiles of each business and will eliminate any potential conglomerate discount. The Transportation division will continue providing innovative mobility solutions globally, while also maintaining Conduent's position among the top diversified outsourcing service providers.

Conduent (Nasdaq: CNDT) has been recognized as a 2021 Supplier of the Year by General Motors during its 30th annual Supplier of the Year awards in Phoenix, Arizona. This marks the second consecutive year that Conduent received this honor, which acknowledges suppliers that exceed GM's requirements with innovative technologies and high-quality services. GM recognized a total of 134 suppliers from 16 countries this year. Randall King, Conduent's President of Commercial Solutions, emphasized the company's commitment to exceeding client expectations in finance, payroll, and compliance solutions.

Conduent Transportation has renewed its contract with the Société de Transport de Montréal (STM) for three years, continuing a partnership that spans nearly two decades. This contract supports maintenance and upgrades for seven public transportation networks in Montreal and Quebec City, serving 1.7 million daily trips. The renewal includes enhancements to the OPUS fare collection system, integrating features like contactless payments and QR code validation. Conduent aims to expand its international footprint while optimizing transit systems with advanced technology.