Conduent Incorporated (NASDAQ:CNDT) Q3 2023 Earnings Call Transcript
Conduent Incorporated (NASDAQ:CNDT) Q3 2023 Earnings Call Transcript November 1, 2023
Conduent Incorporated misses on earnings expectations. Reported EPS is $ EPS, expectations were $0.02.
Operator: Good morning, and welcome to the Conduent Third Quarter 2023 Earnings Announcement. [Operator Instructions] As a reminder, this conference is being recorded. At this time, I would like to hand the call over to Giles Goodburn, Vice President of Investor Relations. Thank you. You may begin.
Giles Goodburn: Thank you, operator, and thanks everyone, for joining us today to discuss Conduent's Third Quarter 2023 Earnings. We hope you had a chance to review our press release issued earlier this morning. Joining me today is Cliff Skelton, our President and CEO; and Steve Wood, our CFO. Today's agenda is as follows. Cliff will provide an overview of our results and a business update. Steve will then walk you through the financials for the quarter as well as providing a financial outlook. Cliff will then provide his closing comments. This call is being webcast, and a copy of the slides used during this call as well as the press release were filed with the SEC this morning on Form 8-K. This information as well as the detailed financial metrics package are available on the Investor Relations section of the Conduent website.
During this call, we may make statements that are forward looking. These forward-looking statements reflect management's current beliefs, assumptions and expectations and are subject to a number of factors that may cause actual results to differ materially from those statements. Information concerning these factors is included in Conduent's annual report on Form 10-K filed with the SEC. We do not intend to update these forward-looking statements as a result of new information or future events or developments, except as required by law. The information presented today includes non-GAAP financial measures. Because these measures are not calculated in accordance with U.S. GAAP, they should be viewed in addition to and not as a substitute for the company's reported results.
For more information regarding definitions of our non-GAAP measures and how we use them as well as the limitation to their usefulness for comparative purposes, please see our press release. And now I would like to turn the call over to Cliff.
Cliff Skelton: Thank you, Giles. Welcome everyone to Conduent’s Q3 earnings call. Well, these are certainly interesting and not always positive times we live in, so I hope you and your families are well. I'll turn it over to Steve in a moment for the detailed financials. But let me first say that today marks my 18th quarterly earnings since arriving here at Conduent. I can tell you we've come a long way since August of 2019. It will always feel like work in progress, but since then we've accomplished a lot. We upgraded our systems and stabilized our environments. We optimized our infrastructure, including reducing our datacenter footprint by 80% with around 29 datacenter closures. We've re-engineered our sales team, sustaining 2020's 2X improvement in TCV.
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