Advertisement
U.S. markets closed
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow 30

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Russell 2000

    2,124.55
    +10.20 (+0.48%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Silver

    25.10
    +0.18 (+0.74%)
     
  • EUR/USD

    1.0779
    -0.0014 (-0.13%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • GBP/USD

    1.2622
    0.0000 (-0.00%)
     
  • USD/JPY

    151.4010
    +0.0290 (+0.02%)
     
  • Bitcoin USD

    70,433.46
    +397.61 (+0.57%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,369.44
    +201.37 (+0.50%)
     

DXC Technology Stock Falls After Q4 Earnings, Names New CFO

  • DXC Technology Co (NYSE: DXC) reported a Q4 FY23 revenue decline of 10.4% Y/Y (-2.9% organically) to $3.59 billion, missing the consensus of $3.62 billion).

  • Revenues declined due to lower resale revenues and project revenues.

  • Segment-wise, revenues from Global Business Services fell 7.5% Y/Y to $1.75 billion, and Global Infrastructure Services declined 13.0% Y/Y to $1.84 billion.

  • Book-to-bill stood at 1.04x in the quarter.

  • Adjusted EBIT declined to $320 million from $342 million a year ago, with a margin of 8.9% vs 8.5% in the prior year.

  • Adjusted EPS of $1.02, up from $0.84, missed the consensus of $1.03.

  • The company reported an operating cash flow of $415 million in Q4.

  • Repurchase: The company completed a share repurchase worth $1 billion in April 2023. DXC announced a new share repurchase worth $1 billion.

  • CFO Appointment: Yesterday, DXC appointed Rob Del Bene as Executive Vice President and CFO, effective June 15, 2023, replacing current CFO Ken Sharp.

  • Outlook: DXC expects Q1 FY24 revenues of $3.540 billion - $3.580 billion (-2.0% to -1.0% organically vs. consensus: $3.61 billion), adjusted EPS of $0.80 - $0.85 (vs. consensus: $0.92) and adjusted EBIT margin of 7.5% to 8.0%.

  • For FY24, DXC projects revenues of $14.40 billion - $14.55 billion (-0.5% to +0.5% organically vs. consensus: $14.46 billion), adjusted EPS of $3.80 - $4.05 (consensus: $3.48) and adjusted EBIT margin of 8.0%-8.5%.

  • Price Action: DXC shares are trading lower by 2.27% at $23.30 premarket on last check Friday.

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article DXC Technology Stock Falls After Q4 Earnings, Names New CFO originally appeared on Benzinga.com

.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement