Conduent Inc. is a large business process services (BPS) company headquartered in New Jersey, United States. We are providing such outlook only on a non-GAAP basis because the Company is unable to predict with reasonable certainty the totality or ultimate outcome or occurrence of these adjustments for the forward-looking period, such as amortization, restructuring, NY MMIS, CA MMIS, HE charge/(credit), goodwill impairment, and certain other adjusted items, which can be dependent on future events that may not be reliably predicted.
FLORHAM PARK, N.J., July 23, 2020 (GLOBE NEWSWIRE) -- Conduent Incorporated (Nasdaq: CNDT) plans to report its second-quarter 2020 financial results on Thursday, August 6, 2020, after market close. Conduent is a trademark of Conduent Incorporated in the United States and/or other countries.“Like many other companies, we are seeing an impact to our clients’ volumes and thereby, our global operations as a result of COVID-19.
We use Free Cash Flow as a measure of liquidity to determine amounts we can reinvest in our core businesses, such as amounts available to make acquisitions and invest in land, buildings and equipment and internal use software, after required payments on debt. We have been able to move approximately 75% of our associates to a remote work environment amidst the COVID-19 crisis while meeting very important commitments to our clients and their millions of end-users. Claims 2020 │Utilization Review. It’s why a majority of Fortune 100 companies and over 500 governments depend on … Xerox also claimed it did nothing wrong. We remain focused on providing best-in-class delivery for our clients and their end-users, while focusing on the health and safety of our 67,000 associates. Conduent has 93,000 employees in more than 40 countries. However, 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. We expect that 2020 could be impacted by lower volumes in several of our businesses resulting in lower revenue and profit,” continued Skelton. EBITDA value lies at +102.00 M with total debt to EBITDA carrying the value of 3.11. Any forward-looking statements made by us in this release speak only as of the date on which they are made.
Adjusted EBITDA represents income (loss) before interest, income taxes, depreciation and amortization and contract inducement amortization adjusted for the following items.
In addition, we have discussed our results using non-GAAP measures.Conduent is well positioned for improvements in growth, efficiency and quality as the ramp back to normal from the COVID-19 crisis takes place.Adjusted EBITDA is not intended to represent cash flows from operations, operating income (loss) or net income (loss) as defined by U.S. GAAP as indicators of operating performances. We are re-focusing our new investment spend this year on projects that drive efficiencies and near-term returns. Our actual results may vary materially from those expressed or implied in our forward-looking statements. The Company has no significant debt maturities due until December … We have provided an outlook for revenue on a constant currency basis due to the inability to accurately predict foreign currency impact on revenues. Equity return holds the value -106.70%, with -34.70% for asset returns.Many brokerage firms have already submitted their reports for CNDT stocks, with JP Morgan repeating the rating for CNDT shares by setting it to “Neutral”. Note, as of 3/31/2020 the company is no longer backing out vendor financed leases from Free Cash Flow and has updated all historical numbers to reflect the change.To better understand trends in our business, we believe that it is helpful to adjust revenue to exclude the impact of changes in the translation of foreign currencies into U.S. CNDT currently has a short float of 2.67% and public float of 196.86M with average trading volume of 2.42M shares.In the course of the last 5 trading sessions, CNDT went down by -7.66%, which changed the moving average for the period of 200 days to the total of -64.46% of losses for the stock in comparison to the 20-day moving average settled at $2.0968. 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. The income tax effects are calculated under the same accounting principles as applied to our reported pre-tax performance measures under ASC 740, which employs an annual effective tax rate method.