Conduent Inc Stock Price, News & Analysis

Conduent (Nasdaq: CNDT) announced plans to replace its existing term loans maturing in 2022 and 2023 with a new $1.5 billion term loan due in 2028 and Senior Secured Notes due in 2029. Additionally, the company will establish a new revolving facility of $550 million. The financing is subject to change and will be offered privately to qualified institutional buyers. This restructuring aims to enhance Conduent's financial flexibility, enabling it to continue delivering critical services for businesses and government entities effectively.

Conduent Transportation has launched a contactless payment system for Brescia Mobilità's buses, enhancing public transport accessibility in Brescia, Italy. This initiative makes Brescia the first city in Italy to implement such a system across its entire bus fleet, which serves approximately 40 million passengers annually. The payment technology, already in use on the light metro transit since December 2019, allows users to pay with major credit cards and digital wallets. This partnership aims to modernize public transport services and improve rider experiences.

Conduent has been awarded a £128 million contract (approx. US $178 million) by the UK Department of Transport to implement an automated free-flow charging solution for the Dartford-Thurrock Crossing. This contract, spanning over 10 years, marks a significant expansion of Conduent's Road Usage Charging business in the UK and Europe. The project aims to improve self-service payment capabilities and enhance customer experience for approximately 165,000 daily users, while maintaining traffic safety and environmental standards.

Conduent (Nasdaq: CNDT) has been awarded a contract by the Med-QUEST Division of the Hawaii Department of Human Services to process claims for over 410,000 Medicaid beneficiaries. This contract extends Conduent's support since 2013 and will last up to four more years. Notably, Hawaii's Medicaid enrollment has surged by 25% since March 2020 due to COVID-19. Conduent processes approximately 155 million Medicaid claims annually across 14 states, demonstrating its significant role in government health services.

In Q1 2021, Conduent (NASDAQ: CNDT) reported revenue of $1,028 million, a decline of 2.2% year-over-year, despite strong performance in Government Payments. Adjusted EBITDA increased to $115 million with a margin of 11.2%, up 210 bps. New business signings reached $356 million, a 10% increase, while annual recurring revenue rose 67% to $95 million. The company revised its FY 2021 revenue guidance to $4,050M - $4,150M and adjusted free cash flow to about 20%. Notably, CFO Brian Webb-Walsh announced his departure, with Stephen Wood assuming the CFO role.

Conduent (CNDT) is set to report its first-quarter 2021 financial results on May 5, 2021, after market close. A conference call will take place at 4:15 p.m. ET, providing insights into the company’s performance. Conduent serves businesses and governments, automating workflows and enhancing operational efficiency. The company boasts significant achievements, including $16 billion in savings through medical bill reviews and up to 40% improvements in HR operations efficiency.

Conduent has launched CommunityVision, an innovative analytics solution designed to enhance healthcare by providing community-specific social determinants of health (SDoH) data directly to healthcare providers. This tool integrates with clinical quality data, helping clinicians identify issues like food insecurity and housing access that impact patient health. With nearly 40% of U.S. hospitals utilizing Conduent's services, the CommunityVision launch aligns with the growing focus on reducing health disparities, supported by $2.5 billion investment from health systems in relevant programs from 2017 to 2019.

Conduent Transportation has launched an automated passenger counting system in Bergamo, Italy, for Azienda Trasporti Bergamo and Tramvie Elettriche Bergamasche to ensure compliance with COVID-19 regulations. The system monitors real-time passenger loads, adhering to the 50% capacity limit mandated by the Italian Ministry of Transport. This innovative solution aims to enhance public transport safety and efficiency for approximately 380,000 residents across 29 municipalities. Conduent's system provides critical data to drivers and passengers, facilitating safe travel during the pandemic.

Conduent Incorporated (Nasdaq: CNDT) announced the formation of a Corporate Social Responsibility and Public Policy Committee by its Board of Directors. This committee aims to enhance the company's commitment to sustainability and ESG practices. CEO Cliff Skelton emphasized the integration of economic, environmental, and social responsibility into their long-term strategy. The committee's focus includes climate change impacts, supply chain diversity, employee well-being, and public policy engagement. Conduent plans to release its Corporate Social Responsibility Report later this year, incorporating updated ESG metrics.