Conduent Inc (NASDAQ:CNDT) shares are trading lower on Wednesday after the company reported first-quarter results.

Conduent registered adjusted earnings per share of 13 cents loss, beating the Street view of a 15 cents loss. Quarterly sales of $751 million (down 18.5% year over year) missed the analyst consensus estimate of $778.33 million.

The company reported adjusted EBITDA of $37 million, up 2.8% year-over-year. Adjusted EBITDA Margin expanded by 50 bps year over year to 4.9%.

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“Our portfolio rationalization efforts are being reinvigorated with additional opportunities and are on track toward achieving more than $1B in deployable capital,” said Cliff Skelton, Conduent president and CEO. 

New business signings ACV stood at $109 million, while net ARR activity over the trailing 12 months reached $116 million.

At the end of the quarter, Conduent’s liquidity position included $293 million of cash and a $550 million revolving credit facility largely undrawn.

“Fortunately, while macro-economic and geopolitical environments affect everyone, most of our business segments are somewhat insulated from trade and government efficiency challenges, and in some cases, may benefit from opportunities,” the CEO added.

Outlook: Conduent reaffirmed its FY2025 sales guidance of $3.10 billion to $3.25 billion, compared to the $3.19 billion consensus estimate.

CNDT Price Action: Conduent shares are trading lower by 2.44% to $2 at publication on Wednesday.

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