Quarterly ResultAug 10, 2026, 08:05 AM
Conduent Divests Transit & Tolling for $234M; Q2 Revenue $531M
AI Summary
Conduent announced its Q2 2026 financial results, reporting a revenue of $531M and a GAAP net loss of $(69)M from continuing operations. The company made significant progress on its transformation, signing divestitures of its Transit and Tolling businesses for $234M in gross proceeds, exceeding its $200M commitment. Conduent is also progressing on an approximately $100M annualized cost-savings program and investing in AI and next-generation Medicaid technology, while providing a FY 2026 revenue outlook of $2,150M - $2,250M.
Key Highlights
- Signed divestitures of Transit and Tolling businesses for $234M gross proceeds.
- Public Transit business sold to Modaxo for $164M.
- Tolling business sold to Quarterhill Inc. for $70M plus 7% equity interest.
- Q2 Revenue from Continuing Operations: $531M, down 11.9% YoY.
- Q2 GAAP Net Loss from Continuing Operations: $(69)M, compared to $(42)M YoY.
- Q2 Adjusted EBITDA from Continuing Operations: $16M, down 30.4% YoY.
- Q2 Cash Flow from Operating Activities: $7M, up from $(15)M YoY.
- FY 2026 Revenue outlook: $2,150M - $2,250M.
Price Impact
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