United States - Conduent

Conduent to Deliver Highly Modernized Core Claims Administration Services to Vaya Health

Tue, 24 Nov 2020 13:45:00 GMT

FLORHAM PARK, N.J., Nov. 24, 2020 -- Conduent Incorporated (Nasdaq: CNDT), a business process services and solutions company, today announced a new agreement with Vaya Health that will help the managed care organization (MCO) simplify and optimize the administration of behavioral health benefits to Medicaid recipients in North Carolina. Under the terms of the seven-year agreement, Conduent will deliver and host a custom version of its HSP Core Claims Administration software solution allowing Vaya to more efficiently operate and manage benefits in 22 counties.

As one of only seven behavioral health MCOs in the state of North Carolina, Vaya is moving forward with preparations to operate under new program rules that will require MCOs to coordinate payment of benefits with one of four statewide prepaid health plans (PHPs) by July 2021. Vaya chose Conduent for the company’s proven success with embedded automation and artificial intelligence tools to effectively manage medical cost and complex healthcare claims. Prior to the agreement, Conduent developed a systems modernization model using Vaya’s claims data that projected the efficiency gains and cost savings that artificial intelligence, advanced automation and analytics can deliver.

“As an organization with nearly 50 years of experience in behavioral health and managed care, we understand the importance of innovation in the changing Medicaid landscape,” said Robert Webb, Executive Vice President and Chief Information Officer at Vaya Health. “Vaya’s partnership with Conduent demonstrates our ongoing pursuit of excellence as we prepare for the evolution of Medicaid managed care in North Carolina.”

The North Carolina Department of Health and Human Services (NC DHHS) recently announced plans resuming efforts to shift the state’s Medicaid program from a fee-for-service to a pay-for-performance model to improve members’ health outcomes while reducing overall costs. Currently, more than one in five North Carolinians, or 2.36 million people, depend on and are in enrolled in Medicaid.

“We are proud to partner with Vaya to enable their successful transition into a pay-for-performance model that lowers operational costs while enhancing positive digital experiences for beneficiaries,” said Lisa Hopper, General Manager, Healthcare Payer Solutions at Conduent. “Our award-winning core claims administration solution enables Vaya to streamline processes and apply advanced data analytics to control costs while enhancing services.”

Conduent’s Healthcare Payer Solutions span all touchpoints for insured members, helping them navigate through healthcare choices and connect to care teams through automated business processes. Its Payer Solutions portfolio includes its ‘ Best in KLAS’ HSP Core Administration Services , Payment Integrity Services and Care Integration Services.

More information on Conduent’s Healthcare Payer solutions can be found here .

About Vaya Health
Based in Asheville, N.C., Vaya Health manages public funds for mental health, substance use disorder and intellectual or developmental disability services in 22 western North Carolina counties: Alexander, Alleghany, Ashe, Avery, Buncombe, Caldwell, Cherokee, Clay, Graham, Haywood, Henderson, Jackson, Macon, Madison, McDowell, Mitchell, Polk, Swain, Transylvania, Watauga, Wilkes and Yancey. Access to care and crisis assistance are available 24/7 at 1-800-849-6127. Learn more at www.vayahealth.com .

About Conduent
Conduent delivers mission-critical services and solutions on behalf of businesses and governments – creating exceptional outcomes for its clients and the millions of people who count on them. Through people, process and technology, Conduent solutions and services automate workflows, improve efficiencies, reduce costs and enable revenue growth. It’s why most Fortune 100 companies and over 500 government entities depend on Conduent every day to manage their essential interactions and move their operations forward.

Conduent’s differentiated services and solutions improve experiences for millions of people every day, including two-thirds of all insured patients in the U.S., 11 million employees who use its HR Services , and nearly nine million people who travel through toll systems daily. Conduent’s solutions deliver exceptional outcomes for its clients including $17 billion in savings from medical bill review of workers compensation claims, up to 40% efficiency increase in HR operations, and up to 40% improvement in processing costs, while driving higher end-user satisfaction. Learn more at www.conduent.com .

Note: To receive RSS news feeds, visit www.news.conduent.com . For open commentary, industry perspectives and views, visit http://twitter.com/Conduent , http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent .
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries.

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Conduent and Experian Health™ Team Up to Speed Patient Access to Prescription Drug Assistance during Pandemic and Beyond

Tue, 17 Nov 2020 13:45:00 GMT

FLORHAM PARK, N.J., Nov. 17, 2020 (GLOBE NEWSWIRE) -- Conduent Incorporated (Nasdaq: CNDT), a business process services and solutions company, has announced a commercial agreement with Experian Health, a leading provider of revenue cycle management products that include patient engagement , patient access and patient collections . The agreement enables Conduent’s digital IntelliHealth ™ platform to connect with Experian’s consumer data and electronic income verification tool to speed prescription drug assistance approvals and shorten prescription fulfillment and time to therapy.

The collaboration is expected to streamline access to free prescription drug assistance benefiting up to 28 million Americans with no or limited healthcare coverage, and more than 12.6 million Americans reported to be jobless by the Bureau of Labor Statistics.

Healthcare Patient Benefits

Every year over $13 billion worth of prescription medicines are provided at no cost to people who can't afford their medications. To qualify for free prescription drugs, PAP applicants must demonstrate financial need by submitting evidence of family income, family size, and if applicable, their healthcare financial burden. Now patients have a quick and easy paperless proof of income option that eliminates the need for W-2 or tax return submission. Experian’s Patient Financial Clearance leverages credit bureau-exclusive predictors and verified income data to deliver real-time income estimation of all household income.

“Combining Conduent’s patient access technology with Experian’s data now provides a complete financial picture that can validate patient demographics in seconds and greatly improves delivery of patient assistance program services during a time of high need,” said Anthony Bianchini, General Manager Conduent Pharma Life Sciences. “The addition of Experian’s financial data tool aligns seamlessly with our continuing commitment to making healthcare more accessible, affordable, and effective for all.”

“Experian has a 40-year history of using data for good and our work with Conduent furthers that mission,” said Matt McGrath, Vice President of Pharmacy Strategy at Experian Health. “Our solution eliminates requiring a patient to locate and provide financial records, allowing the focus to be on recovery instead of worrying about how to obtain the right treatment.”

For the past 30 years, Conduent has helped the nation’s leading pharmaceutical companies deliver patient assistance programs that help countless patients get access to the medications they need, while reducing physician administrative burdens. Learn more at https://www.conduent.com/healthcare-solutions/ .

About Conduent

Conduent delivers mission-critical services and solutions on behalf of businesses and governments – creating exceptional outcomes for its clients and the millions of people who count on them. Through our dedicated people, process and technology, Conduent solutions and services automate workflows, improve efficiencies, reduce costs and enable revenue growth. It’s why most Fortune 100 companies and over 500 government entities depend on Conduent every day to manage their essential interactions and move their operations forward.

Conduent’s differentiated services and solutions improve experiences for millions of people every day, including two-thirds of all insured patients in the U.S., 10 million employees who use its HR Services, and nearly 18 million benefit recipients. Conduent’s solutions deliver exceptional outcomes for its clients, including $17 billion in savings from medical bill review, up to 40% efficiency increase in HR operations, up to 27% reduction in government benefits costs, up to 40% improvement in finance, accounting and procurement expense, and improved customer service interaction times by up to 20% with higher end-user satisfaction. Learn more at www.conduent.com .

About Experian Health

At Experian Health, we serve more than 60 percent of U.S. hospitals and more than 7,700 medical practices, labs, pharmacies and other risk-bearing entities with data-driven platforms and insights that empower our clients to make smarter business decisions, deliver a better bottom line and establish strong patient relationships. We are part of Experian, the world’s leading global information services company, providing us access to deep data and analytics capabilities that complement the strong healthcare heritage rooted in our legacy companies. Our industry-leading solutions span revenue cycle management, identity management, patient engagement, and care management. Experian’s strength comes from more than 17,800 people operating across 45 countries, and every day we’re investing in new technologies, world class talent and innovations that help our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

For more information about Experian Health, visit http://www.experianhealth.com .

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Conduent and Servicing Solutions Working Together to Transform Loan Servicing

Mon, 21 Sep 2020 12:45:00 GMT

FLORHAM PARK, N.J., Sept. 21, 2020 (GLOBE NEWSWIRE) -- Conduent Incorporated (Nasdaq: CNDT) today announced that Servicing Solutions, a leading consumer loan servicing company, has selected Conduent’s Loan Manager loan servicing application services.

Under this new contract, Servicing Solutions will be utilizing Conduent’s Loan Manager SaaS offering to support their end-to-end loan servicing solution for consumer finance industry clients. Loan Manager is flexible, scalable and customizable and provides Servicing Solutions with a web-enabled platform to support their operating processes and third-party integration requirements.

Conduent currently hosts more than 13 million loans and leases and manages more than $120 billion in consumer loan assets, helping lending clients enhance customer experience through efficient and improved usability. The solution is designed to assist loan servicing organizations of any size to streamline their operations, drive efficiency with intuitive interfaces and manage collections.

Servicing Solutions selected Loan Manager because of its cost-effectiveness, ease of use and simplicity to integrate into their existing systems. Conduent continues to make investments in technology solutions to improve business processes and customer experience, such as automated workflows and real-time posting.

“There is a significant growth opportunity in loan servicing for companies that can provide a differentiated, high quality customer experience,” said Louis Ochoa, president and CEO of Servicing Solutions. “By combining Conduent’s more than 30-years of experience in consumer finance solutions with Servicing Solutions’ focus on implementing best practices with new technologies, we can now offer our customers an innovative, integrated resource to manage the life of a consumer loan.”

“At Conduent, we have built long-term relationships with clients that have a similar vision and commitment to delivering the best and most innovative customer experiences in the market,” said Dharma Rajagopalan, Global Head, Business Operations Solutions at Conduent. “By working together, Servicing Solutions and Conduent can provide financial services clients with full service on a wide array of loan assets.”

Conduent is a trademark of Conduent Incorporated in the United States and/or other countries.

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Conduent to Transfer Stock Exchange Listing from NYSE to Nasdaq

Tue, 10 Dec 2019 21:30:00 GMT

FLORHAM PARK, N.J., Dec. 10, 2019 -- Conduent Incorporated (NYSE: CNDT), a services and solutions company, announced today that it will transfer its stock exchange listing from the New York Stock Exchange (NYSE) to The Nasdaq Global Select Market (Nasdaq). The company expects its common stock will commence trading on Nasdaq on December 23, 2019 and will continue to be listed under the ticker symbol "CNDT".

"Listing on Nasdaq positions Conduent alongside the world's most innovative technology leaders," said Brian Webb-Walsh, CFO, Conduent. "We seek to benefit from Nasdaq's cost-effective platforms and comprehensive offerings in trading intelligence and investor relations solutions. We have full confidence that this partnership will support our mission and purpose as we position Conduent for growth."

About Conduent

Conduent delivers mission-critical services and solutions on behalf of businesses and governments – creating exceptional outcomes for its clients and the millions of people who count on them. Through people, process and technology, Conduent solutions and services automate processes, improve efficiencies, reduce costs and enable revenue growth. It's why most Fortune 100 companies and over 500 government entities depend on Conduent every day to manage their essential interactions and move their operations forward.

Conduent's differentiated services and solutions improve experiences for millions of people every day, including two-thirds of all insured patients in the U.S., 11 million employees who use its HR Services, and nearly nine million people who travel through toll systems daily. Conduent's solutions deliver exceptional outcomes for its clients including $16 billion in medical bill savings, up to 40% efficiency increase in HR operations, and up to 40% improvement in processing costs, while driving higher end-user satisfaction. Learn more at www.conduent.com.

Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent.

Conduent is a trademark of Conduent Incorporated in the United States and/or other countries.

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Conduent Reports Third Quarter 2019 Results

Wed, 06 Nov 2019 21:05:00 GMT

Key Quarterly Financial and Operational Highlights

Revenue of $1,098 million down (15.8)% compared to Q3 2018. Excluding divestitures, revenue was down (3.9)% compared with Q3 2018 or (3.5)% in constant currency
GAAP net income of $(16) million compared to $(237) million in Q3 2018
GAAP diluted EPS from continuing operations of $(0.09) compared to ($1.16) in Q3 2018
Adjusted diluted EPS from continuing operations of $0.16 compared to $0.28 in Q3 2018
Adjusted EBITDA of $127 million, down (11)% Y/Y, excluding the impact from divestitures
Total signings TCV $746 million, new business TCV signings $234 million
Strong renewal rate of 93%, up 300 bps Y/Y
Reaffirming FY 2019 Revenue and Adjusted EBITDA margin guidance ranges
Expect to complete comprehensive Strategic and Operational review in late Q4 2019 or early Q1 2020

FLORHAM PARK, NJ, November 6, 2019 - Conduent (NYSE: CNDT), a services and solutions company, today announced its third quarter 2019 financial results.

"Over the last 90 days, the team has started to build on the foundational work that was developed over the past three years," said Conduent CEO, Cliff Skelton. "While our efforts on growing new business signings will not lead to immediate results, we are focused on driving improvement in both sales and operational performance. We hope to see the team's hard work manifest in our leading indicators in the near-term."

"In conjunction with our Board, we also are making progress on the strategic and operational review," Skelton continued. "We anticipate completion of the review in late Q4 2019 or early Q1 2020 and would aim to begin taking action on any potential divestitures in the first half of 2020. The focus of this review is to create shareholder value by looking at potentially divesting assets that we believe have a scarcity value in the market and potentially may command a premium, while seeking to simplify the remaining company to take advantage of strong market opportunities and growth prospects."

Third Quarter 2019 Results

Third quarter 2019 revenue was $1,098 million, down (15.8)% compared to Q3 2018. Excluding divestitures completed in 2018, revenue was down (3.9)% compared with Q3 2018 or (3.5)% in constant currency.

Pre-tax income was $(14) million compared to $(252) million in Q3 2018. GAAP operating margin as reported was (1.3)% compared to (19.3)% in Q3 2018. The company reported Q3 2019 GAAP net income of $(16) million compared to $(237) million in Q3 2018. Diluted EPS from continuing operations was ($0.09) versus ($1.16) in the same period last year.

Third quarter adjusted operating income was $72 million, with an adjusted operating margin of 6.6% as compared to adjusted operating income of $104 million, with an adjusted operating margin of 8.0% in Q3 2018. Adjusted EBITDA was $127 million, with an adjusted EBITDA margin of 11.6%, as compared to $157 million, with an adjusted EBITDA margin of 12.0% in Q3 2018. Further adjusting for the impact of all divestitures, Adjusted EBITDA declined (10.6)% compared with Q3 2018 while adjusted EBITDA margin decreased (80) bps.

The company reported adjusted diluted EPS from continuing operations of $0.16 compared to $0.28 in Q3 2018.

Conduent had cash inflow from operations of $18 million during the third quarter of 2019 compared to cash outflows of $(30) million in Q3 2018.

Total contract value (TCV) signings of $746 million for the quarter were up 1.0% compared with Q3 2018, due to an (11.0)% decrease in new business signings and an 8.0% increase in renewal signings. The renewal rate for the quarter was 93%, up 300 bps compared to Q3 2018. Note, this compare excludes divestitures.

Financial Outlook

(in millions)	FY 2018 Reported	Completed Divestiture Impact ⁽³⁾	Adjusted FY 2018⁽⁴⁾	Updated FY 2019 Guidance

Revenue (constant currency)^(1,2)	$5.39B	$752M	$4.64B	Down (5) - (4)%
Revenue (constant currency)^(1,2)	$5.39B	$752M	$4.64B	Down (5) - (4)%

Adj. EBITDA Margin⁽²⁾	11.9%		11.5%	10.8% - 11.6%

Adj. Free Cash Flow⁽²⁾ as a % of Adj. EBITDA	34.1%			~20%

Note: Please refer to the "Non-GAAP Outlook" in Appendix for certain non-GAAP information regarding outlook

(1) Year-over-year revenue growth comparison at constant currency

(2) Refer to Appendix for Non-GAAP reconciliations of adjusted EBITDA / margin and adjusted FCF and for impact from completed divestitures. FY 2019 FCF adjusted for Texas-related litigation impact

(3) Includes all completed divestitures

(4) Adjusted for 2018 and 2019 completed divestitures referenced in Appendix.

Brian Webb-Walsh, CFO of Conduent, stated, "We had an in-line quarter with revenue and adjusted EBITDA results slightly ahead of our internal expectations. We are reaffirming our 2019 revenue and adjusted EBITDA margin guidance and continue to focus on balancing cost savings with investment in our processes, people, and technology."

Conference Call

Management will present the results during a conference call and webcast on November 6, 2019 at 5 p.m. ET.

The call will be available by live audio webcast with the news release and online presentation slides at https://investor.conduent.com/.

The conference call will also be available by calling 1-877-883-0383 (international dial-in 1-412-902-6506) at approximately 4:45 p.m. ET. The entry number for this call is 0612634.

A recording of the conference call will be available by calling 1-877-344-7529, or 1-412-317-0088 one hour after the conference call concludes on November 6, 2019. The replay ID is 10132425.

For international calls, please select a dial-in number from:

https://services.choruscall.com/ccforms/replay.html

About Conduent

Conduent delivers mission-critical services and solutions on behalf of businesses and governments – creating exceptional outcomes for its clients and the millions of people who count on them. Through people, process and technology, Conduent solutions and services automate processes, improve efficiencies, reduce costs and enable revenue growth. It’s why most Fortune 100 companies and over 500 government entities depend on Conduent every day to manage their essential interactions and move their operations forward.

Conduent’s differentiated services and solutions improve experiences for millions of people every day, including two-thirds of all insured patients in the U.S., 11 million employees who use its HR Services, and nearly nine million people who travel through toll systems daily. Conduent’s solutions deliver exceptional outcomes for its clients including $16 billion in medical bill savings, up to 40% efficiency increase in HR operations, and up to 40% improvement in processing costs, while driving higher end-user satisfaction. Learn more at www.conduent.com.

Non-GAAP Measures

We have reported our financial results in accordance with U.S. generally accepted accounting principles (GAAP). In addition, we have discussed our financial results using non-GAAP measures. We believe these non-GAAP measures allow investors to better understand the trends in our business and to better understand and compare our results. Accordingly, we believe it is necessary to adjust several reported amounts, determined in accordance with GAAP, to exclude the effects of certain items as well as their related tax effects. Management believes that these non-GAAP financial measures provide an additional means of analyzing the current periods' results against the corresponding prior periods' results. These non-GAAP financial measures should be viewed in addition to, and not as a substitute for, the Company's reported results prepared in accordance with U.S. GAAP. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable U.S. GAAP measures and should be read only in conjunction with our Condensed Consolidated Financial Statements prepared in accordance with U.S. GAAP. Our management regularly uses supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions, and providing such non-GAAP financial measures to investors allows for a further level of transparency as to how management reviews and evaluates our business results and trends. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business based on certain non-GAAP measures. Refer to the "Non-GAAP Financial Measures" section attached to this release for a discussion of these non-GAAP measures and their reconciliation to the reported GAAP measures.

Forward-Looking Statements

This release and any attachments to this release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “will,” “should” and similar expressions, as they relate to us, are intended to identify forward-looking statements. These 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. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. Our actual results may vary materially from those expressed or implied in our forward-looking statements.

Important factors and uncertainties that could cause our actual results to differ materially from those in our forward-looking statements include, but are not limited to: our ability to successfully manage the leadership transition and strategic and operational review and the potential for disruptions to our business from the transition and strategic and operational review; government appropriations and termination rights contained in our government contracts; our ability to renew commercial and government contracts, including contracts awarded through competitive bidding processes; our ability to recover capital and other investments in connection with our contracts; our ability to attract and retain necessary technical personnel and qualified subcontractors; our ability to deliver on our contractual obligations properly and on time; competitive pressures; our significant indebtedness; changes in interest in outsourced business process services; our ability to obtain adequate pricing for our services and to improve our cost structure; claims of infringement of third-party intellectual property rights; the failure to comply with laws relating to individually identifiable information, and personal health information and laws relating to processing certain financial transactions, including payment card transactions and debit or credit card transactions; breaches of our information systems or security systems or any service interruptions; our ability to estimate the scope of work or the costs of performance in our contracts; our continuing emphasis on and shift toward technology-led digital transactions; customer decision-making cycles and lead time for customer commitments; our ability to collect our receivables, including those for unbilled services; a decline in revenues from, or a loss of, or a reduction in business from, or failure of significant clients; fluctuations in our non-recurring revenue; our failure to maintain a satisfactory credit rating; our ability to attract and retain key employees; increases in the cost of telephone and data services or significant interruptions in such services; our failure to develop new service offerings; our ability to modernize our information technology infrastructure and consolidate data centers; our ability to comply with data security standards; our ability to receive dividends or other payments from our subsidiaries; changes in tax and other laws and regulations; changes in government regulation and economic, strategic, political and social conditions; changes in U.S. GAAP or other applicable accounting policies; and other factors that are set forth in the “Risk Factors” section, the “Legal Proceedings” section, the “Management's Discussion and Analysis of Financial Condition and Results of Operations” section and other sections in our 2018 Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission. Any forward-looking statements made by us in this release speak only as of the date on which they are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, subsequent events or otherwise.

# # #

Media Contacts:

Sean Collins, Conduent, +1-310-497-9205, sean.collins2@conduent.com

Investor Contacts:

Alan Katz, Conduent, +1-973-526-7173, alan.katz@conduent.com

Rebecca Koar, Conduent, +1-862-308-7105, rebecca.koar@conduent.com

Download Full Release

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Conduent Teams with PayPal to Make Child Support Payments Easier, More Secure

Fri, 20 Sep 2019 12:45:00 GMT

FLORHAM PARK, N.J., September 19, 2019 — Conduent Incorporated (NYSE: CNDT) today announced a collaboration with PayPal that will simplify secure child support payments made by employers and individuals in the United States.

Using Conduent’s ExpertPay® platform, users can now make payments to child support agencies in all 50 states via their PayPal accounts. The accounts are easily linked to ExpertPay, which securely and quickly distributes the funds to the agencies. This eliminates the need for credit card or bank information for the transaction.

As the only multistate child support payment portal in the nation, ExpertPay provides a convenient alternative to traditional, manual methods of making and managing payments. It ensures compliance with state-level remittance requirements and is ideal for making multiple payments at one time, including to different states. ExpertPay is currently used by more than 275,000 employers, payroll processors and non-custodial parents.

“As a market leader in child support, we’re teaming up with PayPal to offer businesses and citizens more convenient and secure options,” said Mark Brewer, President, Global Public Sector Solutions, Conduent. “This collaboration also supports the mission of our state government clients, which must ensure child support payments are delivered to the families and children who need them.”

According to PayPal, there are 277 million active account holders. PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid.

Conduent currently processes more than one-third of the nation’s child support payments. The company recently received the 2019 Corporate Associate of the Year Award from the National Child Support Enforcement Association. The award recognizes its many years of advocacy and active partnership with stakeholders in the child support community.

Conduent helps government agencies transform their operations and business processes to better serve constituents. Delivering innovative solutions through analytics and data, and by working with companies like PayPal, Conduent offers solutions for government payments and health care, as well as eligibility and enrollment, child support and case management.

About Conduent

As one of the largest business process companies in the world, Conduent manages mission-critical interactions at massive scale – helping global businesses and governments stay ahead of rapidly evolving expectations. We leverage the power of cloud, mobile and IoT, combined with innovations in automation, AI and blockchain technologies, to elevate every constituent interaction, and deliver advanced digital experiences that are more efficient, seamless and satisfying. It’s why a majority of Fortune 100 companies and over 500 government entities depend on Conduent to manage essential interactions on their behalf and move their operations forward.

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Conduent Named Corporate Associate of the Year by National Child Support Enforcement Association

Wed, 14 Aug 2019 12:45:00 GMT

FLORHAM PARK, NJ, August 14, 2019 — In recognition of its many years of advocacy and active partnership with stakeholders in the child support community, Conduent Incorporated (NYSE: CNDT), a digital interactions company, received the 2019 Corporate Associate of the Year Award from the National Child Support Enforcement Association (NCSEA).

The award was presented this week at the association’s annual Leadership Symposium in Minneapolis, which drew more than 700 child support and human services professionals from across the county to network, learn, share and build leadership skills. The event coincides with Child Support Awareness Month.

“Conduent has been a consistent and dedicated champion of NCSEA for many years, providing both financial and volunteer support,” said NCSEA President Craig Burshem. “The expertise and support they provide year-round is essential to NCSEA and the child support community. Conduent representatives serve NCSEA through consistent and enthusiastic volunteer support, with representatives on the NCSEA Board of Directors and 10 committees and subcommittees.”

For more than 25 years, Conduent has served child support agencies, helping them to improve services for citizens. The company currently processes more than one-third of the nation’s child support payments every year and is an industry leader in accuracy, efficiency and reliability. Conduent’s ExpertPay™ platform handles approximately $2 billion in payments annually from employers, payroll processors and individuals.

“This is a tremendous recognition for our team of subject matter experts, who tirelessly contribute their time and expertise to the child support community,” said Marcus Collier, Group Chief Executive, Conduent Government. “Our partnership with NCSEA reinforces the collaborative and cooperative spirit that’s so essential to helping our clients address their fiscal, operational and technological needs.”

Collier joined Scott Cade, Vice President, Child Support Services, and other child support subject matter experts, including Robbie Endris, Hal Carl and Alex Camacho, in accepting the award on behalf of the company. While at the Leadership Symposium, Conduent team members also shared their expertise during a series of panel discussions and instructional sessions.

Conduent helps government agencies transform their operations and business processes to better serve constituents. Driving innovation through analytics, research and data, Conduent offers solutions for government payments and health care, as well as eligibility and enrollment, child support and case management.

About Conduent

As one of the largest business process companies in the world, Conduent manages mission-critical digital interactions at massive scale – helping global businesses and governments stay ahead of rapidly evolving expectations. We leverage the power of cloud, mobile and IoT, combined with innovations in automation, AI and blockchain technologies, to elevate every constituent interaction, and deliver advanced digital experiences that are more efficient, seamless and satisfying. It’s why a majority of Fortune 100 companies and over 500 government entities depend on Conduent to manage essential interactions on their behalf and move their operations forward.

Conduent’s differentiated offerings touch millions of lives every day, including two-thirds of all insured patients in the U.S., 11 million employees who use our HR Services, and nearly 9 million people who travel through toll systems daily. Whether it’s digital payments, medical claims administration, eligibility and enrollment, transportation and mobility systems, end-user engagement or benefit administration – Conduent makes every interaction more individualized, immediate and intelligent. Learn more at www.conduent.com.

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California Transit Agencies Select Conduent Transportation to Provide New Fleet Management Technology

Tue, 13 Aug 2019 12:45:00 GMT

FLORHAM PARK, N.J., August 13, 2019 — Conduent Transportation, a business unit of digital interactions company Conduent Incorporated (NYSE: CNDT), will help public transit agencies in Southern California operate their fleets and provide quality, on-time service for passengers. Under two new contracts, the company will upgrade hardware and software for the management system on board hundreds of buses for the San Diego Metropolitan Transit System (MTS) and North County Transit District (NCTD), as well as key portions of Orange County Transportation Authority’s (OCTA) system.

The agencies will utilize Conduent’s computer-aided dispatch/automatic vehicle location (CAD/AVL) solution to assist drivers with routing and keep buses on schedule, as well as provide real-time vehicle information on bus locations for passengers to make informed decisions. For dispatch personnel, the systems track the performance of the buses and enable effective communications with the fleet.

“These upgrades are critically important for our clients and their customers,” said John Peracchio, Interim CEO, Conduent Transportation. “The newer systems will give the agencies more data and options for operations to run smoothly, leading to even more reliable and trusted service for riders.”

San Diego: In San Diego, the upgrades will be performed on 375 buses operated by MTS and another 155 buses operated by NCTD. The work will entail the first large-scale deployment of the company’s advanced Integrated Vehicle Unit (IVU)-4000 version of CAD/AVL. The IVU-4000 on-board system, coupled with key upgrades, will provide an enhanced user experience for drivers and less workload for dispatchers, so they can offer a better overall performance for passengers.

Orange County: In Orange County, Conduent will perform for OCTA key software upgrades on the CAD/AVL system, and will work with the authority to develop and pilot a first-of-its-kind bus communications capability based upon Voice Over Internet Protocol (VOIP). This updated technology will leverage the IVU-4000 system’s enhanced capabilities, coupled with cellular communications, to allow dispatchers to more efficiently communicate with operators. The initial pilot will be conducted on 12 OCTA buses to test the functionality and reliability of the VOIP solution, with the goal of migrating the entire fleet to the new technology.

The contracts mark an extension of Conduent’s ongoing work with the two agencies.

Los Angeles Region: The company also provides fleet management solutions for the Los Angeles County Metropolitan Transportation Authority (LA Metro), in addition to a range of other transportation services across the region in support of transit, public parking, tolling and safety programs.

For example, the company provides dynamic pricing software and hardware for the Los Angeles Department of Transportation’s LA Express Park™ program. The on-street parking technology enables the agency to manage curbside usage, improving access to spaces and increasing turnover, ultimately reducing congestion.

The company also helps to ease travel across Los Angeles County by modernizing the tolling system on Metro ExpressLanes with the latest in automated technologies. Through a recent contract with LA Metro, the company’s upgrades will save drivers time via reduced congestion, while improving safety on both the I-10 and I-110 corridors.

Conduent Transportation is a leading provider of transportation and mobility solutions – including roadway charging and management, parking and curbside management, and advanced transit and public safety systems – that offer automated, analytics-based and personalized services for government agencies and their constituents. The company has been helping transportation clients for more than 50 years and operates in 27 countries.

About Conduent

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Media Contacts:

Neil Franz, Conduent, +1-301-820-4324, neil.franz@conduent.com

Investor Relations Contact:

Alan Katz, Conduent, +1-973-526-7173, alan.katz@conduent.com

Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent.

Conduent is a trademark of Conduent Incorporated in the United States and/or other countries.

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Conduent Reports Second Quarter 2019 Results

Sat, 10 Aug 2019 02:14:00 GMT

Key Quarterly Financial and Operational Highlights

• Revenue of $1,112 million

• GAAP diluted EPS from continuing operations of $(4.94), down $(4.98) yr/yr; adjusted diluted EPS from continuing operations of $0.13, down (55.2)%

• Net Income from continuing operations of $(1,029) million; Adjusted net income of $30 million

• Adjusted EBITDA of $114 million, down (7.3)%, excluding the impact from divestitures

• Total signings TCV $813 million, new business TCV signings $328 million

• Second large data center migration and consolidation completed

• Management and the Board to conduct both a strategic and operational review of the company and each line of business; CEO search process suspended in conjunction with the review

FLORHAM PARK, NJ, August 8, 2019 - Conduent (NYSE: CNDT), a digital interactions company, today announced its second quarter 2019 financial results.

Cliff Skelton, interim CEO stated, "Conduent has attractive assets, a loyal and diverse client-base, and dedicated employees. I came to the organization because we have the opportunity to build on the progress that the company has made over the last two and a half years. As a company, we need to drive further change and accelerate our revenue and sales efforts by empowering employees and balancing our focus on cost with improving delivery for our clients and their end-users."

Second Quarter 2019 Results

Second quarter 2019 revenue was $1,112 million, down (19.8)% compared to Q2 2018. Excluding divestitures completed in 2018, revenue was down (3.2)% compared with Q2 2018 or (2.6)% in constant currency.

Pre-tax income was $(1,119) million compared to $54 million in Q2 2018 driven primarily by a $1,067 million goodwill impairment as a result of the loss of customer contracts, lower than expected new business, and higher costs of delivery in each of our reporting units. GAAP operating margin as reported was (100.6)% compared to 3.9% in Q2 2018. The company reported Q2 2019 GAAP net income of $(1,029) million compared to $11 million in Q2 2018. Diluted EPS from continuing operations was ($4.94) versus $0.04 in the same period last year, driven primarily by the goodwill impairment.

Second quarter adjusted operating income was $63 million, with an adjusted operating margin of 5.7% as compared to adjusted operating income of $109 million, with an adjusted operating margin of 7.9% in Q2 2018. Adjusted EBITDA was $114 million, with an adjusted EBITDA margin of 10.3%, as compared to $166 million, with an adjusted EBITDA margin of 12.0% in Q2 2018. Further adjusting for the impact of all divestitures, Adjusted EBITDA declined (7.3)% compared with Q2 2018 while adjusted EBITDA margin decreased (40) bps.

The company reported adjusted diluted EPS from continuing operations of $0.13 compared to $0.29 in Q2 2018.

Conduent had cash outflow from operations of $(185) million during the second quarter of 2019 compared to $98 million in Q2 2018.

Total contract value (TCV) signings of $813 million for the quarter were down (56.9)% compared with Q2 2018, due to a (5.2)% and (68.5)% year-over-year decrease in new business and renewal signings respectively. The year-over-year comparable for signings this quarter was impacted by a multi-year renewal of one of our largest clients in the prior-year quarter.

Financial and Strategic Outlook

Conduent provided the following update to guidance ranges for FY 2019:

(in millions)	FY 2018 Reported	Completed Divestiture Impact⁽³⁾	Adjusted FY 2018⁽⁴⁾	Updated FY 2019 Guidance
Revenue (constant currency)^(1,2)	$5.39B	$752M	$4.64B	Down (5) - (4)%
Adj. EBITDA Margin⁽²⁾	11.9%		11.5%	10.8% - 11.6%
Adj. Free Cash Flow⁽²⁾ % of Adj. EBITDA	$218M 34.1%			~20-25%

Note: Please refer to the "Non-GAAP Outlook" in appendix for certain non-GAAP information regarding outlook

(1) Year-over-year revenue growth comparison at constant currency

(2) Refer to Appendix for Non-GAAP reconciliations of adjusted EBITDA / margin and adjusted FCF and for impact from completed divestitures. FY 2019 FCF adjusted for Texas-related litigation impact

(3) Includes all completed divestitures

(4) Adjusted for 2018 and 2019 completed divestitures referenced in appendix.

Brian Webb-Walsh, CFO of Conduent, stated, "Given continued pressure on the top-line and a more balanced approach on expense management initiatives, we've lowered our outlook for the year. We are focused on executing on our strategy to improving the trajectory of our business. As part of that effort, we are undertaking both a strategic and operational review of our company and each of our lines of business with our Board to look for opportunities to maximize shareholder value and we will provide additional information as that review progresses."

Conference Call

Management will present the results during a conference call and webcast on August 8, 2019 at 5 p.m. ET.

The call will be available by live audio webcast with the news release and online presentation slides at https://investor.conduent.com/.

The conference call will also be available by calling 1-877-883-0383 (international dial-in 1-412-9026506) at approximately 4:45 p.m. ET. The entry number for this call is 7982536.

A recording of the conference call will be available by calling 1-877-344-7529, or 1-412-317-0088 one hour after the conference call concludes on August 8, 2019. The replay ID is 10132419.

For international calls, please select a dial-in number from: https://services.choruscall.com/ccforms/replay.html

About Conduent

As one of the largest business process companies in the world, Conduent manages mission-critical digital interactions at massive scale - helping global businesses and governments stay ahead of rapidly evolving expectations. We leverage the power of cloud, mobile and IoT, combined with innovations in automation, AI and blockchain technologies, to elevate every constituent interaction, and deliver advanced digital experiences that are more efficient, seamless and satisfying. It’s why a majority of Fortune 100 companies and over 500 government entities depend on Conduent to manage essential interactions on their behalf and move their operations forward.

Conduent’s differentiated offerings touch millions of lives every day, including two-thirds of all insured patients in the U.S., 11 million employees who use our HR Services, and nearly nine million people who travel through toll systems daily. Whether it’s digital payments, medical claims administration, eligibility and enrollment, transportation and mobility systems, end-user engagement or benefit administration - Conduent makes every interaction more individualized, immediate and intelligent. Learn more at www.conduent.com.

Non-GAAP Measures

Forward-Looking Statements

This release and any exhibits to this release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “will,” “should” and similar expressions, as they relate to us, are intended to identify forward-looking statements. These 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. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. Our actual results may vary materially from those expressed or implied in our forward-looking statements.

Important factors and uncertainties that could cause our actual results to differ materially from those in our forward-looking statements include, but are not limited to: our ability to successfully manage the leadership transition and the potential for disruptions to our business from the transition; government appropriations and termination rights contained in our government contracts; our ability to renew commercial and government contracts awarded through competitive bidding processes; our ability to recover capital and other investments in connection with our contracts; our ability to attract and retain necessary technical personnel and qualified subcontractors; our ability to deliver on our contractual obligations properly and on time; competitive pressures; our significant indebtedness; changes in interest in outsourced business process services; our ability to obtain adequate pricing for our services and to improve our cost structure; claims of infringement of third-party intellectual property rights; the failure to comply with laws relating to individually identifiable information, and personal health information and laws relating to processing certain financial transactions, including payment card transactions and debit or credit card transactions; breaches of our information systems or security systems or any service interruptions; our ability to estimate the scope of work or the costs of performance in our contracts; our continuing emphasis on and shift toward technology-led digital transactions; customer decision-making cycles and lead time for customer commitments; our ability to collect our receivables for unbilled services; a decline in revenues from or a loss or failure of significant clients; fluctuations in our non-recurring revenue; our failure to maintain a satisfactory credit rating; our ability to attract and retain key employees; increases in the cost of telephone and data services or significant interruptions in such services; our failure to develop new service offerings; our ability to modernize our information technology infrastructure and consolidate data centers; our ability to comply with data security standards; our ability to receive dividends or other payments from our subsidiaries; changes in tax and other laws and regulations; changes in government regulation and economic, strategic, political and social conditions; changes in U.S. GAAP or other applicable accounting policies; and other factors that are set forth in the “Risk Factors” section, the “Legal Proceedings” section, the “Management's Discussion and Analysis of Financial Condition and Results of Operations” section and other sections in our 2018 Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statements made by us in this release speak only as of the date on which they are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, subsequent events or otherwise.

# # #

Media Contacts:

Sean Collins, Conduent, +1-310-497-9205, sean.collins2@conduent.com

Investor Contacts:

Alan Katz, Conduent, +1-973-526-7173, alan.katz@conduent.com

Rebecca Koar, Conduent, +1-862-308-7105, rebecca.koar@conduent.com

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CONDUENT ANNOUNCES CLIFFORD A. SKELTON NAMED AS CEO AND BOARD MEMBER

Wed, 07 Aug 2019 20:17:00 GMT

FLORHAM PARK, N.J., August 7, 2019 – Conduent Incorporated (NYSE: CNDT), a digital interactions company, today announced that effective August 6, 2019, Clifford A. Skelton, President and COO, will serve as Conduent’s Chief Executive Officer on an interim basis. Mr. Skelton was also named to the Company’s Board of Directors.

Courtney Mather, Chairman of the Conduent Board, said, “We are pleased to have Cliff in this important role. Given his experience, I am confident that he will provide invaluable guidance on both strategic and operational matters.”

Skelton stated, “This is an important time at Conduent and the team is committed to leveraging our strong platforms, client relationships and employee talent to drive change. I will work alongside the rest of the Conduent executive team and our Board to help drive progress in the next phase of the company’s transformation. I am pleased to take on this important challenge.”

The special committee of the Conduent Board leading the CEO search has determined to suspend the search for the immediate future.

Ashok Vemuri stepped down as Chief Executive Officer and board member, effective August 6, 2019.

About Conduent

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Conduent Names Cliff Skelton President and Chief Operating Officer

Tue, 28 May 2019 20:35:00 GMT

FLORHAM PARK, N.J., May 28, 2019 – Conduent Incorporated (NYSE: CNDT), a digital interactions company, today announced the appointment of Cliff Skelton as President and Chief Operating Officer (COO).

Skelton brings expertise in operational management, technology integration and strategic leadership. In this role, he will be responsible for managing day-to-day operations across Conduent’s business units, ensuring that Conduent continues to provide the knowledge and products that allow the businesses and governments it serves to offer first-rate digital experiences that meet the evolving needs of their customers and constituents.

“Over the past year, Conduent has made numerous foundational improvements to modernize our infrastructure and drive efficiencies to better serve our customers,” said Conduent Chairman of the Board William G. Parrett. “Cliff’s experience across our key verticals and his proven ability to transform operations in the business process outsourcing sector by leveraging innovative technology make him the ideal person to lead our operational team. He will help build on Conduent’s efforts as we shift our business to focus on higher value-add digital offerings.”

Skelton joins Conduent from Fiserv Output Solutions, where he served as President. He previously spent five years as Executive Vice President and Chief Information Officer of Fiserv, where he was a member of the company’s Executive Committee.

Prior to that, he held positions at Ally Financial (formerly General Motors Acceptance Corporation) as Chief Technology and Operations Officer, and at Bank of America as Chief Operations Officer for the card services group. He also served more than 20 years in the U.S. Navy as an aviator and Squadron Commanding Officer.

“Conduent works at the intersection of the right industries, conducting millions of mission-critical business transactions every day,” said Skelton. “The company’s market position is enhanced by its longtime relationships with loyal clients that benefit from an experienced team with deep domain expertise. I look forward to the opportunity to work in a hands-on manner to drive Conduent’s enterprise-wide transformation.”

Skelton holds a master’s degree in public administration from Harvard University’s John F. Kennedy School of Government and a bachelor’s degree in international relations from the University of Southern California.

About Conduent

Conduent creates digital platforms and services for businesses and governments to manage millions of interactions every day for those they serve. We are leveraging the power of cloud, mobile and IoT, combined with technologies such as automation, cognitive and blockchain to elevate every constituent interaction, driving modern digital experiences that are more efficient, helpful and satisfying.

Conduent’s differentiated offerings touch millions of lives every day, including two-thirds of all insured patients in the U.S. and nearly nine million people who travel through toll systems daily. Whether it’s digital payments, claims processing, benefit administration, automated tolling, customer care or distributed learning – Conduent serves a majority of the Fortune 100 companies and more than 500 government entities. Learn more at www.conduent.com.

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Conduent Transportation Names Scott Doering to Lead Tolling Business

Wed, 22 May 2019 12:45:00 GMT

FLORHAM PARK, N.J., May 22, 2019 — Conduent Transportation, a business unit of digital interactions company Conduent Incorporated, announced the appointment of Scott Doering as general manager, Road Usage Charging.

Doering will lead Conduent Transportation’s tolling operations and will also shape its vision for the future, as the business pivots toward emerging needs such as congestion management and road usage charging.

“Scott brings more than 20 years of tolling experience and valuable insights to our team,” said Mick Slattery, CEO, Conduent Transportation. “He shares our excitement for partnering with agencies to shape the future of tolling while continually elevating our operations and expanding our business.”

Based in San Diego, Doering joins the company from Cubic Transportation Systems, where he was business director for Road User Charging, driving global business development and implementation for toll programs. Previously, he was a regional vice president and managing director at TransCore and a tolling general manager at Telvent, which became part of Kapsch TrafficCom.

He holds bachelor’s degrees in computer science and mathematics from the University of San Diego.

Conduent Transportation is a leading provider of transportation and mobility solutions – including roadway charging and management, curbside management, and advanced transit and public safety systems – that offer automated, analytics-based and personalized services for government agencies and their constituents. The company has been helping transportation clients for more than 50 years and operates in 27 countries.

About Conduent

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Conduent Reports First Quarter 2019 Results; Achieves Continued Margin Expansion, Strong Renewal Rate and Closes First Acquisition

Wed, 08 May 2019 11:00:00 GMT

Key Quarterly Financial and Operational Highlights

Revenue of $1,158 million
GAAP diluted EPS from continuing operations of $(1.49), down $(1.23) yr/yr; adjusted diluted EPS from continuing operations of $0.14, down (36.4)%
Net Income from continuing operations of $(308) million; Adjusted net income of $32 million
Adjusted EBITDA of $122 million, up 1.7%, excluding the impact from divestitures
Total signings TCV $952M, new business TCV signings $225M
HSP acquisition immediately adding to pipeline and differentiation for clients
Meaningful progress on technology infrastructure modernization and network consolidation

FLORHAM PARK, NJ, May 8, 2019 - Conduent (NYSE: CNDT), a digital interactions company, today announced its first quarter 2019 financial results.

“This quarter, we continued to make investments in our operating and go-to-market model,” said Ashok Vemuri, CEO of Conduent. “We continued to show margin expansion despite facing growth challenges and pressure on our top line. The strong team we have built, the markets we operate in and our loyal client base, establishes a strong foundation upon which to build.”

First quarter 2019 revenue was $1,158 million, down (18.5)% compared to Q1 2018. Excluding divestitures completed in 2018, revenue was down (4.3)% compared with Q1 2018.

Pre-tax income was $(338) million compared to $(54) million in Q1 2018 driven primarily by a $284 million goodwill impairment as a result of the loss of customer contracts, lower than expected new business and higher costs of delivery within our Transportation business, which was found to be below its carrying value. GAAP operating margin as reported was (29.2)% compared to (3.8)% in Q1 2018. The company reported Q1 2019 GAAP net income of $(308) million compared to $(50) million in Q1 2018. Diluted EPS from continuing operations was ($1.49) versus ($0.26) in the same period last year, driven primarily by the goodwill impairment.

First quarter adjusted operating income was $69 million, with an adjusted operating margin of 6.0% as compared to adjusted operating income of $105 million, with an adjusted operating margin of 7.4% in Q1 2018. Adjusted EBITDA was $123 million, with an adjusted EBITDA margin of 10.6%, as compared to $161 million, with an adjusted EBITDA margin of 11.3% in Q1 2018. Further adjusting for the impact of all divestitures, Adjusted EBITDA improved 1.7% compared with Q1 2018 while adjusted EBITDA margin increased 70 bps.

The company reported adjusted diluted EPS from continuing operations of $0.14 compared to $0.22 in Q1 2018.

Conduent had cash outflow from operations of $(49) million during the first quarter of 2019 compared to $(38) million in Q1 2018.

In the quarter, Conduent continued to drive operating efficiencies, while investing in sales, API and technology infrastructure. Efficiency initiatives included the continued focus on Accu-shoring, with 52% of the global workforce now located in low-cost countries. The company is approximately 45 percent through its ~$200 million client-facing technology investment through the end of Q1 2019 and began its second large data center migration, which is scheduled to be completed by the end of May 2019.

Several go-to-market initiatives were recently launched, including a consolidation of the Commercial business under a single leader, the launch of a large deals group and the development of a new business incubator, focused on finding, developing and graduating the next set of growth engine business offerings.

Total contract value (TCV) signings of $952 million for the quarter were down (26.4)% compared with Q1 2018, due to a (38.7)% and (21.5)% year-over-year decrease in new business and renewal signings respectively.

Financial and Strategic Outlook

Conduent provided the following update to guidance ranges for FY 2019:

(in millions)	FY 2018 Reported	Divestiture Impact⁽³⁾	Adjusted FY 2018⁽⁴⁾	Updated FY 2019 Guidance
Revenue (constant currency)⁽¹⁾	$5.39B	$752M	$4.64B	Down (3) - (4)%
Adj. EBITDA Margin⁽²⁾	11.9%		11.5%	12 - 13%
Adj. Free Cash Flow⁽²⁾ % of Adj. EBITDA	$218M 34.1%			~30%

Note: Please refer to the "Non-GAAP Outlook" below for certain information concerning outlook.

(1) Year-over-year revenue growth comparison at constant currency

(2) Refer to Appendix for Non-GAAP reconciliations of adjusted EBITDA / margin and adjusted FCF and for impact from divestitures. FY 2019 FCF adjusted for Texas-related litigation impact

(3) Includes all divestitures

(4) Adjusted for 2018 and 2019 divestitures, and select Stand Alone Customer Care contracts

Brian Webb-Walsh, CFO of Conduent stated, “We successfully closed on HSP, our first acquisition, and are already seeing strong demand for this technology offering from both new and existing clients. Our balance sheet remains strong and we are continuing to make investments in order to drive growth and profit improvement. We are focused on improving sales conversion, are shifting to the next phase of transformation and will address stranded costs associated with the divestitures that we completed over the past year.”

Conference Call

Management will present the results during a conference call and webcast on May 8, 2019 at 5 p.m. ET.

The call will be available by live audio webcast with the news release and online presentation slides at https://investor.conduent.com/.

The conference call will also be available by calling 1-877-883-0383 (international dial-in 1-412-902-6506) at approximately 4:45 p.m. ET. The entry number for this call is 6541992.

A recording of the conference call will be available by calling 1-877-344-7529, or 1-412-317-0088 one hour after the conference call concludes on May 8, 2019. The replay ID is 10130906.

For international calls, please select a dial-in number from:
https://services.choruscall.com/ccforms/replay.html

About Conduent

Conduent’s differentiated offerings touch millions of lives every day, including two-thirds of all insured patients in the U.S. and nearly nine million people who travel through toll systems daily. Whether it’s digital payments, claims processing, benefit administration, automated tolling, customer care or distributed learning - Conduent serves a majority of the Fortune 100 companies and more than 500 government entities. Learn more at www.conduent.com.

Non-GAAP Measures

Forward-Looking Statements

This Report and any exhibits to this Report may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “estimate,” “expect,”
“intend,” “will,” “should” and similar expressions, as they relate to us, are intended to identify forward-looking statements. These 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. Such factors include, but are not limited to: government appropriations and termination rights contained in our government contracts; our ability to renew commercial and government contracts awarded through competitive bidding processes; our ability to recover capital and other investments in connection with our contracts; our ability to attract and retain necessary technical personnel and qualified subcontractors; our ability to deliver on our contractual obligations properly and on time; competitive pressures; our significant indebtedness; changes in interest in outsourced business process services; our ability to obtain adequate pricing for our services and to improve our cost structure; claims of infringement of third-party intellectual property rights; the failure to comply with laws relating to individually identifiable information, and personal health information and laws relating to processing certain financial transactions, including payment card transactions and debit or credit card transactions; breaches of our information systems or security systems or any service interruptions; our ability to estimate the scope of work or the costs of performance in our contracts; our continuing emphasis on and shift toward technology-led digital transactions; customer decision-making cycles and lead time for customer commitments; our ability to collect our receivables for unbilled services; a decline in revenues from or a loss or failure of significant clients; fluctuations in our non-recurring revenue; our failure to maintain a satisfactory credit rating; our ability to attract and retain key employees; increases in the cost of telephone and data services or significant interruptions in such services; our failure to develop new service offerings; our ability to modernize our information technology infrastructure and consolidate data centers; our ability to comply with data security standards; our ability to receive dividends or other payments from our subsidiaries; changes in tax and other laws and regulations; changes in government regulation and economic, strategic, political and social conditions; changes in U.S. GAAP or other applicable accounting policies; and other factors that are set forth in the “Risk Factors” section, the “Legal Proceedings” section, the “Management's Discussion and Analysis of Financial Condition and Results of Operations” section and other sections in our 2018 Annual Report on Form 10-K, as well as in our Current Reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statements made by us in this report speak only as of the date on which they are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, subsequent events or otherwise.

# # #

Media Contacts:
Sean Collins, Conduent, +1-310-497-9205, sean.collins2@conduent.com

Investor Contacts:
Alan Katz, Conduent, +1-973-526-7173, alan.katz@conduent.com
Monk Inyang, Conduent, +1-973-261-7182, monk.inyang@conduent.com

View full release

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Conduent Launches Innovation Center to Drive Customers’ Digital Transformations

Thu, 25 Apr 2019 12:30:00 GMT

FLORHAM PARK, N.J., April 25, 2019 – Conduent Incorporated (NYSE: CNDT), a digital interactions company, today announced the grand opening of its Innovation Center at Conduent’s corporate headquarters in Florham Park, NJ. The Innovation Center is a technology-driven collaborative space that will help current and prospective clients shape the future of their respective industries.

Through data visualization, touch table exploration, dynamic videos, interactive demonstrations and digital workshop sessions, visitors will be guided through an immersive experience, where they will discover solutions to key industry problems, helping them to transform their operations to stay ahead of technological disruption and remain competitive in their sectors. The Innovation Center offers new ways to workshop ideas and interact with technologies firsthand, while engaging with Conduent’s business portfolio.

“We are committed to providing digital experiences for our clients’ end users that are individualized, immediate, and intelligent,” said Ashok Vemuri, Chief Executive Officer, Conduent. “The Innovation Center showcases our unique ability to develop and deploy tailored solutions across industries to help our customers prepare for the future and enable their own digital transformations.”

The Innovation Center journey will begin by focusing on the end-user each visitor serves, and then exploring and workshopping opportunities to improve the end-user experience as they make their way through the center.

The solution demonstrations highlight Conduent’s capabilities in AI, automation, blockchain, cognitive, data analytics, and mobility that power the company’s solutions.

Examples include:

AI-powered chatbots such as Dara and our recruitment bot as well as our employee portals such as Life@Work to deliver human-centric experiences.
Blockchain solutions to improve clients’ supply chain management as well as help healthcare payer clients resolve inefficiencies related to provider credentialing – an issue that costs the healthcare industry more than $2 billion annually.
Mobility analytics platforms that combine interactive data visualization and analytics to optimize public transportation solutions.

Visitors to the Innovation Center will be guided by a docent and facilitation expert. To learn more and book a visit, please go to conduent-innovation-center

About Conduent

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Conduent Launches Technology Platforms, Powered by Microsoft Azure, to Raise the Digital Interactions Bar

Fri, 22 Feb 2019 13:33:00 GMT

FLORHAM PARK, N.J., Feb. 22 2019 — Conduent Incorporated (NYSE: CNDT), a digital interactions company, is launching five enterprise platforms to further Conduent’s ability to provide individualized, immediate and intelligent experiences to its customers. The suite of enterprise platforms will deliver customized technology solutions to drive modern digital interactions.

Conduent’s industry experts will develop and enhance its platforms, creating new, updated sets of cloud-based enterprise technology, powered by Microsoft Azure. Conduent will integrate Microsoft Language Understanding Intelligent Service (LUIS), Azure Blockchain Workbench, Azure Cognitive Services and Azure Machine Learning service (AzureML) throughout its client portfolio, delivering them on Azure.

“Microsoft Azure promotes our mission of elevating every interaction by automating and increasing the reliability of routine tasks,” said Rahul Gupta, Chief Technology and Product Officer, Conduent. “This strategic alignment expands Conduent’s platform options to provide seamless enterprise cloud solutions running on Azure.”

Jean-Philippe Courtois, President and EVP, Microsoft Global Sales, Marketing and Operations, Microsoft Corp. said, “Our latest collaboration with Conduent combines their intelligent digital experiences solutions with the power of Microsoft Azure. Together with Conduent, we will deliver technology solutions using blockchain and virtual agents across their five new enterprise platforms, all run on our scalable cloud. I look forward to seeing how this relationship empowers Conduent to drive customized digital interactions for all of its clients.”

At a soon-to-be-established Conduent Center of Excellence in Hyderabad, India, and at Conduent’s Technology and Innovation Hub in Raleigh, N.C., Conduent will continue to integrate Azure into its platforms.

Platforms and Pilot-Ready Solutions

Conduent is making significant investments – including $200 million for platform modernization through 2020 – to become a key partner that helps its clients accelerate their digital journeys. Across all of Conduent’s 80-plus offerings, this core technology and innovation foundation will underpin all existing solutions to drive enhanced digital interactions. This same platform will be used to build future solutions and offerings for our industries and horizontals.

The suite of platforms helps Conduent and its clients configure solutions faster, thanks to common modules and drag-and-drop capabilities for a smoother design process, while improving clients’ usability with a consistent look and feel. Of the five new enterprise platforms, two have pilot-ready applications in place.

The new suite of platforms include:

Dara – Conduent’s AI Conversation Platform: a virtual agent platform that assists in the completion of routine tasks through voice, webchat, SMS and other digital interaction methods, resulting in a better, more personalized customer experience. Cognitive, artificial intelligence and machine learning technologies are used to help Dara have conversations in an automated, conversational manner. If Dara doesn’t have the answer, she automatically routes the customer to a human agent. She continuously learns from humans to improve the quality of customer service answers over time. Dara works with Amazon Alexa, Google Home and other voice channels.
- Need to Pay Your Tolling Bill? Just Ask Dara: Conduent is piloting Dara with an electronic tolling provider to deliver 24/7 customer service through multiple communication channels. Transportation customers can use the assistant to check their balance, add account details, order a transponder and make payments. Using Microsoft LUIS, the chatbot will offer end-users interacting with Conduent transportation systems a point of contact, enabling automated, personalized service through webchat, SMS, Microsoft Cortana, Amazon Alexa and Google Assistant.

Conduent Analytics Platform: supports intelligence and analytics capabilities to improve business outcomes. It harnesses structured and unstructured data from multiple sources, and extracts and integrates descriptive, diagnostic, predictive and prescriptive analytics. The information and insights help businesses make smarter, efficient and intelligent decisions.
- Predicting Telco Churn: To help telecommunications clients retain their customers, Conduent’s Loyalty Analyzer solution sifts through data such as customer service interactions, billing inquiries, usage characteristics and competitor offers to model loyalty behavior and determine the most critical factors contributing to customers leaving a service. This insight helps predict, characterize and even prevent customer loss.

Conduent Blockchain Platform: an open, modular platform designed to support industry-specific blockchain-based ecosystems. It connects multiple organizations to enable immediate, seamless, secure information sharing backed by a ledger that cannot be altered. Conduent's identity, data management and payment solutions use blockchain's smart contracts and advanced cryptographic algorithms to reinforce security.

Conduent Automation Platform: supports the transition from simple procedural automation to more advanced cognitive automation for items that normally require thinking, decision-making and planning. As an open, cloud-based platform, it enables digital transformation by quickly composing workflows that streamline and automate processes for greater efficiency, accuracy and business insights. The built-in, customizable business intelligence dashboards help clients see processes in action while gaining immediate feedback on key performance indicator metrics.
Conduent Mobility Platform: a platform that will help deliver applications faster with a consistent look and feel, pre-coded digital widgets, common mobile operating system services (i.e., location-based services), and universal gateways to interface with partner APIs across all applications. The platform will also help deliver hyper-personalized customer experiences built around a user’s context, devices and preferences.

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Indiana Family and Social Services Administration Selects Conduent to Help 1.5 Million in Need

Thu, 21 Feb 2019 13:45:00 GMT

FLORHAM PARK, N.J., Feb. 21, 2019 — Conduent Incorporated (NYSE: CNDT), a digital interactions company, was selected by the Indiana Family and Social Services Administration (FSSA) for a $232 million contract over four years, renewing a relationship that began in 2009.

Conduent provides application processing support for applicants and benefit recipients of state government programs, including Medicaid, Supplemental Nutrition Assistance Program (SNAP), Temporary Assistance for Needy Families and the Healthy Indiana Plan.

Serving approximately 1.5 million Indiana benefit recipients, Conduent supports the state’s client services. Incorporating automation technologies, the company provides assistance with application processing, screening, scheduling, initial case processing and data collection from applicants.

“When we began the transformation of our eligibility and support services with the help of Conduent, we became one of the most efficient social services agencies in the country,” said Adrienne Shields, Director, Indiana FSSA Division of Family Resources. “The work Conduent does is a critical component in providing our constituents with a positive experience.”

The company works with the state to process more than 100,000 applications and responds to approximately 200,000 phone inquiries per month. Conduent also assists individuals through the hearings and appeals process, and supports the state with benefit recovery efforts.

“We have more than 1,000 employees dedicated to our relationship with Indiana FSSA, and they are passionate about the work they do in support of citizens in need,” said Marcus Collier, Group Chief Executive, Conduent Government. “We’ve built a trusted partnership with the state over the last 10 years by sharing a commitment to serve Indiana.”

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Conduent Reports Fourth Quarter and Full Year 2018 Results; Improved New Business Signings, Strong Cash Generation and Overachieved on Transformation Initiative

Wed, 20 Feb 2019 12:00:00 GMT

Q4 2018 Financial and Operational Highlights

• Revenue of $1,282 million

• GAAP diluted EPS from continuing operations of $(0.69), down $(1.67) yr/yr; adjusted diluted EPS from continuing operations of $0.26, down (16.1)%

• Net Income from continuing operations of $(140) million; Adjusted net income of $58 million

• Adjusted EBITDA of $156 million, up 0.6%, excluding impact from ASC 606 and divestitures

• Total signings TCV up 7.4%, driven by new business TCV signings up 6.3% yr/yr

Full Year 2018 Financial and Operational Highlights

• Revenue of $5,393 million

• GAAP diluted EPS from continuing operations of $(2.06), down $(2.87) yr/yr; adjusted diluted EPS from continuing operations of $1.05, up 23.5%

• Net Income from continuing operations of $(416) million; Adjusted net income of $230 million

• Adjusted EBITDA of $640 million, up 7.0%, excluding impact from ASC 606 and divestitures

• Total signings TCV up 25.8% yr/yr

• Exceeded 3-year transformation initiative targets; achieved ~$730M of cumulative savings

FLORHAM PARK, NJ, February 20, 2019 - Conduent (NYSE: CNDT), a digital interactions company, today announced its fourth quarter and full year 2018 financial results.

"We made solid progress on a number of fronts in 2018 and are executing to our strategy,” said Ashok Vemuri, CEO of Conduent. “Our new business efforts are gaining traction particularly with our digital platforms and solutions driving signings growth of 6% in the fourth quarter. In addition, we have successfully resolved the Texas litigation, completed our non-core divestitures and exceeded our three-year transformation target, allowing us to now focus solely on growing the core business."

Full Year 2018 Results

Full year 2018 revenue was $5,393 million, down (10.4)% compared to 2017. Adjusting for the impact of the 606 accounting standard and excluding divestitures completed in Q3 2017 and 2018, revenue was down (3.8)% compared with 2017.

Pre-tax income was $(395) million compared to $(16) million in 2017. The company reported full year 2018 GAAP net income of $(416) million compared to $181 million in 2017. Diluted EPS from continuing operations was $(2.06) versus $0.81 in 2017, driven primarily by the Q4 2017 tax reform impact, litigation costs, and an impairment associated with the sale of the portfolio of customer care contracts.

Full year adjusted operating income was $419 million, with an adjusted operating margin of 7.8% as compared to adjusted operating income of $418 million, with an adjusted operating margin of 6.9% in 2017. Adjusted EBITDA was $640 million, with an adjusted EBITDA margin of 11.9%, as compared to $672 million, with an adjusted EBITDA margin of 11.2% in 2017. Further adjusting for the impact of the 606 accounting standard and excluding divestitures completed in Q3 2017 and 2018, Adjusted EBITDA improved 7.0% compared with 2017.

The company reported adjusted diluted EPS from continuing operations in 2018 of $1.05 compared to $0.85 in 2017.

Conduent had cash flow from operations of $283 million during 2018 and ended the year with a cash balance of $756 million. Total debt was $1,567 million as of December 31, 2018.

Headcount of approximately 82,000 as of December 31, 2018 compared with approximately 90,000 as of December 31, 2017.

Total contract value (TCV) signings of $5,445 million for the year were up 26% compared with 2017, driven primarily by a 67% increase in renewal TCV.

Fourth Quarter 2018 Results

Fourth quarter 2018 revenue was $1,282 million, down (14.1)% compared to Q4 2017. Adjusting for the impact of the 606 accounting standard and excluding divestitures completed in Q3 2017 and 2018, revenue was down (3.7)% compared with Q4 2017.

Pre-tax income was $(143) million compared to $4 million in Q4 2017. GAAP operating margin as reported was (11.2)% compared to 0.3% in Q4 2017. The company reported Q4 2018 GAAP net income of $(140) million compared to $208 million in Q4 2017. Diluted EPS from continuing operations was ($0.69) versus $0.98 in the same period last year, driven primarily by the Q4 2017 tax reform impact, divestiture transaction costs, litigation costs, and an impairment associated with the sale of the portfolio of customer care contracts.

Fourth quarter adjusted operating income was $101 million, with an adjusted operating margin of 7.9% as compared to adjusted operating income of $130 million, with an adjusted operating margin of 8.7% in Q4 2017. Adjusted EBITDA was $156 million, with an adjusted EBITDA margin of 12.2%, as compared to $188 million, with an adjusted EBITDA margin of 12.6% in Q4 2017. Further adjusting for the impact of the 606 accounting standard and excluding divestitures completed in Q3 2017 and 2018, Adjusted EBITDA improved 0.6% compared with Q4 2017.

The company reported adjusted diluted EPS from continuing operations of $0.26 compared to $0.31 in Q4 2017.

Conduent had cash flow from operations of $253 million during the fourth quarter of 2018 compared to $236 million in the Q4 2017.

Total contract value (TCV) signings of $1,527 million for the quarter were up 7% compared with Q4 2017, due to a 6% and 8% year-over-year increase in new business and renewal signings respectively. New business TCV growth included contracts with a large insurance carrier to provide end-to-end workers compensation services and a large global transit agency to provide automated ticketing services.

Financial and Strategic Outlook

Conduent provided the following guidance ranges for FY 2019:

(in millions)	FY 2018 Reported	Divestiture Impact	Adjusted FY 2018⁽³⁾	*Includes No Additional M&A* FY 2019 Guidance

Revenue (constant currency)⁽¹⁾	$5.39B	$752M	$4.64B	Up 0.5 - 1.5%



Adj. EBITDA⁽²⁾	$640M	$105M	$535M	$590 - $610M Up 10 - 14%
Adj. EBITDA⁽²⁾	$640M	$105M	$535M	$590 - $610M Up 10 - 14%

Adj. EBITDA Margin⁽²⁾	11.9%		11.5%	12.5 - 13.1%

Adj. Free Cash Flow⁽²⁾	$218M			~35% of Adj. EBITDA
% of Adj. EBITDA	34.1%			~35% of Adj. EBITDA

Note: Please refer to the "Non-GAAP Outlook" below for certain information concerning outlook.

(1) Year-over-year revenue growth comparison at constant currency

(2) Refer to Appendix for Non-GAAP reconciliations of adjusted EBITDA / margin and adjusted FCF and for impact from ASC 606 accounting change and divestitures. FY 2019 FCF adjusted for Texas-related litigation impact

(3) Adjusted for accounting 606, 2017 and 2018 divestitures, and select Stand Alone Customer Care contracts in run-off

"We ended the year in a strong financial position with a healthy balance sheet, improving margin profile and Free Cash Flow above our most recent guidance range," said Brian Webb-Walsh, CFO of Conduent. "The progress that we have made in paying down debt and improving cash generation positions us to deploy capital to support our growth initiatives and drive shareholder value."

Conference Call

Management will present the results during a conference call and webcast on February 20, 2019 at 10 a.m. ET.

The call will be available by live audio webcast with the news release and online presentation slides at https://investor.conduent.com/.

The conference call will also be available by calling 1-877-883-0383 (international dial-in 1-412-902-6506) at approximately 9:45 a.m. ET. The entry number for this call is 6287313.

A recording of the conference call will be available by calling 1-877-344-7529, or 1-412-317-0088 one hour after the conference call concludes on February 20, 2019. The replay ID is 10128582.

For international calls, please select a dial-in number from:

https://services.choruscall.com/ccforms/replay.html

About Conduent

Conduent’s differentiated offerings touch millions of lives every day, including two-thirds of all insured patients in the U.S. and nearly nine million people who travel through toll systems daily. Whether it’s digital payments, claims processing, benefit administration, automated tolling, customer care or distributed learning - Conduent serves a majority of the Fortune 100 companies and more than 500 government entities. Learn more at www.conduent.com.

Non-GAAP Measures

Forward-Looking Statements

This Report and any exhibits to this Report may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “will,” “should” and similar expressions, as they relate to us, are intended to identify forward-looking statements. These 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. Such factors include, but are not limited to: government appropriations and termination rights contained in our government contracts; our ability to renew commercial and government contracts awarded through competitive bidding processes; our ability to recover capital and other investments in connection with our contracts; our ability to attract and retain necessary technical personnel and qualified subcontractors; our ability to deliver on our contractual obligations properly and on time; competitive pressures; our significant indebtedness; changes in interest in outsourced business process services; our ability to obtain adequate pricing for our services and to improve our cost structure; claims of infringement of third-party intellectual property rights; the failure to comply with laws relating to individually identifiable information, and personal health information and laws relating to processing certain financial transactions, including payment card transactions and debit or credit card transactions; breaches of our information systems or security systems or any service interruptions; our ability to estimate the scope of work or the costs of performance in our contracts; our continuing emphasis on and shift toward technology-led digital transactions; customer decision-making cycles and lead time for customer commitments; our ability to collect our receivables for unbilled services; a decline in revenues from or a loss or failure of significant clients; fluctuations in our non-recurring revenue; our failure to maintain a satisfactory credit rating; our ability to attract and retain key employees; increases in the cost of telephone and data services or significant interruptions in such services; our failure to develop new service offerings; our ability to modernize our information technology infrastructure and consolidate data centers; our ability to comply with data security standards; our ability to receive dividends or other payments from our subsidiaries; changes in tax and other laws and regulations; changes in government regulation and economic, strategic, political and social conditions; changes in U.S. GAAP or other applicable accounting policies; and other factors that are set forth in the “Risk Factors” section, the “Legal Proceedings” section, the “Management's Discussion and Analysis of Financial Condition and Results of Operations” section and other sections in our 2017 Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statements made by us in this report speak only as of the date on which they are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, subsequent events or otherwise.

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Conduent Reaches Agreement with State of Texas to Settle Claims Regarding Medicaid Contracts with Predecessor Companies

Tue, 19 Feb 2019 14:08:00 GMT

FLORHAM PARK, N.J., Feb. 19, 2019 – Conduent Incorporated (NYSE: CNDT) today announced it has entered into a settlement agreement with the state of Texas regarding claims related to two previous contracts supporting the state’s Medicaid program.

All of these allegations relate to the 2004-2014 time period, when the company was owned by predecessor companies. In the settlement agreement, Conduent denied any improper actions occurred during the performance of the two contracts.

“We are pleased to put this legacy issue behind us. This settlement provides clarity on the financial impact and we have sufficient liquidity to address it,” said Ashok Vemuri, Chief Executive Officer, Conduent. “Texas remains an important client for us and we are focused on continuing to bring value to our client and its citizens.”

Pursuant to the terms of the agreement, the company will pay the state $235,942,000 over a period of three years in full settlement of the claims asserted against the defendants.

For additional information, please see previous disclosures regarding this matter in the company’s prior SEC filings.

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Conduent to Report Fourth-Quarter 2018 Financial Results on February 20, 2019

Wed, 06 Feb 2019 21:01:00 GMT

FLORHAM PARK, N.J., Feb. 6, 2019 – Conduent Incorporated (NYSE: CNDT), a digital interactions company, plans to report its fourth-quarter 2018 financial results on Wednesday, February 20, 2019. Management will present the results during a conference call and webcast at 10:00 a.m. ET.

The call will be available by live audio webcast along with the news release and online presentation slides at https://investor.conduent.com/.

The conference call will also be available by calling 1-877-883-0383 (international dial-in 1-412-902-6506) at approximately 9:45 a.m. ET. The entry number for this call is 6287313.

A recording of the conference call will be available by calling 1-877-344-7529 or 1-412-317-0088 one hour after the conference call concludes on February 20, 2019. The replay ID is 10128582.

For international calls, please select a dial-in number from:

https://services.choruscall.com/ccforms/replay.html

The telephone recording will be available until 11:59 p.m. on February 27, 2019.

We look forward to your participation.

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Conduent Completes Sale of Portfolio of Select Customer Care Contracts to Skyview Capital

Mon, 04 Feb 2019 11:45:00 GMT

FLORHAM PARK, N.J., Feb.4, 2019 – Conduent Incorporated (NYSE: CNDT) today announced it has completed the sale of a portfolio of select standalone customer care contracts to Skyview Capital LLC, subject to delayed transfer of certain assets in some countries pending fulfillment of legal requirements.

The sale was announced on Oct. 1, 2018.

This portfolio is part of the previously announced plan to divest $1 billion in revenue associated with non-core assets. The completion of this transaction concludes that divestiture plan.

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