- Business process services and solutions provider Conduent Inc CNDT looks to separate its Transportation business through a sale or a spin-off.
- The separation will enable Conduent's Commercial, Government, and Transportation businesses to benefit from more focused operating models and capital allocation priorities aligned with industry-specific dynamics in their respective markets.
- This separation will likely unlock significant value for Conduent and its shareholders.
- Conduent's Q4 FY21 revenue of $1.05 billion beat the consensus of $1.04 billion. Adjusted EPS of $0.13 was in-line with the consensus.
- Conduent saw FY22 revenue of $3.825 billion - $3.975 billion below the consensus of $4.12 billion. Conduent saw FY23 revenue growth of 1% - 4%.
- Conduent looked forward to outrunning the one-time government stimulus volumes that benefited 2021 and demonstrating growth.
- Price Action: CNDT shares traded higher by 13.2% at $5.50 in the premarket on the last check Thursday.
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