Unisys Corp

NYSE:UISUnited States

May 7, 2024

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• -- Earnings Flash (UIS) UNISYS CORPORATION Posts Q1 Revenue $487.8M, vs. Street Est of $482.9M, from 4:56PM ET on Tuesday May 07, 2024 by MT Newswires

  4:56PM ET on Tuesday May 07, 2024 by MT Newswires
  Companies Mentioned: UIS
  04:56 PM EDT, 05/07/2024 (MT Newswires) -- ...

• -- Earnings Flash (UIS) UNISYS CORPORATION Reports Q1 EPS $0.04, vs. Street Est of $-0.02, from 4:56PM ET on Tuesday May 07, 2024 by MT Newswires

  4:56PM ET on Tuesday May 07, 2024 by MT Newswires
  Companies Mentioned: UIS
  04:56 PM EDT, 05/07/2024 (MT Newswires) -- ...

• Unisys Announces 1Q24 Results, from 4:55PM ET on Tuesday May 07, 2024 by PR Newswire

  4:55PM ET on Tuesday May 07, 2024 by PR Newswire
  Companies Mentioned: UIS

  Unisys Reiterates Full-Year Guidance and Builds Momentum in New Logo Signings

  -- Revenue declined 5.5% year over year (YoY), 7.1% decline in constant currency(1); Excluding License and Support (Ex-L&S)(15) revenue grew 4.0% YoY, 3.0% growth in constant currency

• Unisys Announces 1Q24 Results, from 4:55PM ET on Tuesday May 07, 2024 by Dow Jones

  4:55PM ET on Tuesday May 07, 2024 by Dow Jones
  Companies Mentioned: UIS
  2024 2023 -------------- -------------- Net loss attributable to Unisys Corporation $ (149.5) $ (175.4) Net income attributable to noncontrolling interests 0.2 0.9 Interest expense, net of interest income of $6.6 and $6.7, respectively(1) 1.3 0.9 Provision for income taxes 17.0 19.9 Depreciation 12.4 21.4 Amortization 14.4 14.5 -------------- -------------- EBITDA $ (104.2) $ (117.8) ============== ============== Pension and postretirement expense $ 146.6 $ 193.2 Certain legal matters(2) (8.2) 5.7 Environmental matters(1) 0.3 10.3 Cost reduction and other expenses(3) 8.7 (1.7) Non-cash share based expense 6.5 4.6 Other expense, net adjustment(4) 15.6 3.9 -------------- -------------- Adjusted EBITDA $ 65.3 $ 98.2 ============== ============== (1) Included in other (expense), net on the consolidated statements of income (loss) (2) Included in selling, general and administrative expenses and other (expense), net within the consolidated statements of income (loss). For the three months ended March 31, 2024, certain legal matters includes a net gain of $14.9 million related to a favorable judgement received in a Brazilian services tax matter. (3) Reduced for depreciation and amortization included above (4) Other expense, net as reported on the consolidated statements of income (loss) less pension and postretirement expense, interest income and items included in certain legal and environmental matters, cost reduction and other expenses Three Months Ended March 31, -------------------- 2024 2023 --------- --------- Revenue $ 487.8 $ 516.4 Net loss attributable to Unisys Corporation as a percentage of revenue (30.6) % (34.0) % Non-GAAP net income attributable to Unisys Corporation as a percentage of revenue 0.6 % 6.7 % Adjusted EBITDA as a percentage of revenue 13.4 % 19.0 % UNISYS CORPORATION RECONCILIATIONS OF GAAP TO NON-GAAP (Unaudited) (Millions) OPERATING PROFIT -------------------------------------------------------------------------- Three Months Ended March 31, ---------------------------- 2024 2023 ------------- ------------- Operating profit $ 17.7 $ 49.9 Certain legal matters(1) 7.3 5.7 Cost reduction and other expenses(2) 9.0 4.2 Pension and postretirement expense(1) 0.4 0.3 ------------- ------------- Non-GAAP operating profit $ 34.4 $ 60.1 ============= ============= Revenue $ 487.8 $ 516.4 Operating profit percent 3.6 % 9.7 % Non-GAAP operating profit percent 7.1 % 11.6 % (1) Included in selling, general and administrative on the consolidated statements of income (loss) (2) Included in cost of revenue, selling, general and administrative and research and development on the consolidated statements of income (loss) EXCLUDING LICENSE AND SUPPORT (EX-L&S) REVENUE AND GROSS PROFIT --------------------------------------------------------------------- Three Months Ended March 31, ------------------------ 2024 2023 ----------- ----------- Revenue $ 487.8 $ 516.4 L&S revenue 93.2 136.9 ----------- ----------- Ex-L&S Non-GAAP revenue $ 394.6 $ 379.5 =========== =========== Gross profit $ 136.0 $ 159.0 L&S gross profit 64.8 106.5 ----------- ----------- Ex-L&S Non-GAAP gross profit $ 71.2 $ 52.5 =========== =========== Gross profit percent 27.9 % 30.8 % Ex-L&S Non-GAAP gross profit percent 18.0 % 13.8 %
  

• *DJ Unisys 1Q Loss/Shr $2.18 >UIS, from 4:55PM ET on Tuesday May 07, 2024 by Dow Jones

  4:55PM ET on Tuesday May 07, 2024 by Dow Jones
  Companies Mentioned: UIS