Unisys Stock Price, News & Analysis

Unisys Corporation reported Q3 2020 revenue of $495.2 million, up 12.9% sequentially but down 10.3% year-over-year. The operating profit margin improved 750 bps sequentially to 5.6%, while non-GAAP operating profit margin rose 830 bps to 8.5%. Operating cash flow increased by $80.5 million sequentially to $66.3 million, and free cash flow reached $34.3 million, a growth of $83.9 million sequentially. The company expects to significantly reduce future pension contributions, with a potential deficit reduction of $478 million.

Unisys Corporation (NYSE: UIS) has priced $485 million in Senior Secured Notes due 2027, set to close on October 29, 2020. Proceeds will address its underfunded U.S. pension liability. The notes carry an interest rate of 6.875%, with payments starting on May 1, 2021. Guaranteed by major domestic subsidiaries, these notes are secured by substantially all of Unisys's assets. They are being offered privately under Rule 144A and Regulation S, and not registered under the Securities Act.

Unisys Corporation (NYSE: UIS) announced a proposed private offering of $400 million in Senior Secured Notes due 2028. The offering will be available under Rule 144A and Regulation S, aimed at qualified institutional buyers. Net proceeds from this offering will be used to address Unisys's underfunded U.S. pension liability. The notes will be secured by liens on nearly all assets of Unisys and its domestic subsidiaries. This move highlights Unisys's commitment to enhancing its financial position while addressing pension obligations.

Unisys Corporation (NYSE: UIS) will release its third-quarter 2020 financial results on October 27, 2020, before the market opens. The company will follow this with a conference call aimed at the financial community from 8:00 to 9:00 a.m. Eastern Time. Investors can listen to the event via a live Webcast on the Unisys Investor Website, with a replay available thereafter.

Unisys is a global IT services firm that integrates security within its offerings, which include cloud services and digital workplace solutions for various sectors.

Unisys Corporation (NYSE: UIS) announced the launch of the ClearPath MCP Software Series for Microsoft Azure, marking the first time its flagship software is available in the public cloud. This initiative allows clients to transition their IT infrastructure to the cloud without altering existing business models or incurring extra costs for server platforms. The offering integrates with Unisys CloudForte hybrid and multi-cloud services and Stealth cybersecurity solutions, providing enhanced security and operational efficiency. Clients, including the Job Service of North Dakota, are adopting this solution to improve agility and reduce capital costs.

Unisys Corporation (NYSE: UIS) announced it will co-host a National Cybersecurity Moonshot Virtual Workshop on October 5-6, 2020, focusing on cyber education. This workshop, in collaboration with American University, CIS, and I3P, aims to enhance the quality and diversity of cybersecurity talent. Keynote speakers include prominent figures from government and academia. CEO Peter Altabef emphasized the importance of partnerships in cultivating diverse talent and addressing cybersecurity challenges through education, particularly in advanced technologies like AI and quantum encryption.

Unisys Corporation (NYSE: UIS) announced that Shawn Kingsberry, VP of Digital Government and Citizen Services, has been named 'Industry Leadership of the Year' at the 2020 StateScoop 50 Awards. The accolade recognizes his contributions in modernizing IT infrastructure for state governments. Kingsberry's expertise has greatly benefitted states like Georgia, Hawaii, Kansas, and Virginia in digital modernization projects. The awards highlight key leaders and projects in state IT, with winners selected from over two million national votes.

Unisys Corporation (NYSE: UIS) has opened registration for the 12th edition of its annual technical project competition, Cloud 20/20, aimed at engineering students across India. Established in 2009, the competition fosters career development by allowing students to apply theoretical knowledge to real-world problems through two programs: the Student Innovation Program (SIP) and the Targeted Innovation Program (TIP). With nearly 50,000 individual registrations since inception, the contest continues to thrive as a significant platform for student engagement in technology and innovation.