Conduent Incorporated (NYSE:CNDT) Q2 2019 Earnings Conference Call - Final Transcript

Aug 08, 2019 • 05:00 pm ET


Conduent Incorporated (NYSE:CNDT) Q2 2019 Earnings Conference Call - Final Transcript


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Good afternoon, and welcome to the Conduent Q2 2019 Earnings Call and Webcast. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded.

I would now like to turn the conference over to Alan Katz, Head of Investor Relations. Please go ahead.

Alan Katz

Good afternoon, ladies and gentlemen, and welcome to Conduent's second quarter 2019 earnings call. With me today I have Cliff Skelton, our Interim CEO; and Brian Walsh, our CFO. Following our prepared remarks, we will take your questions. This call is also being webcast. A copy of the slides used during this call was filed with the SEC this afternoon. These slides as well as the detailed financial metrics sheet are available for download on the Investor Relations section of the Conduent website. We will also post the transcript later this week.

During this call, Conduent executives may make comments that contain certain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 that by their nature address matters that are in the future and are uncertain. These statements reflect management's current beliefs, assumptions and expectations as of today, August 8, 2019, and are subject to a matter of factors that may cause actual results to differ materially from those statements. Information concerning these factors is included in Conduent's Annual Report on Form 10-K filed with the SEC. We do not intend to update these forward-looking statements as a result of new information or future events or developments except as required by law.

The information presented today includes non-GAAP financial measures. Because these measures are not calculated in accordance with US GAAP, they should be viewed in addition to and not as a substitute for the Company's reported results prepared in accordance with US GAAP. For more information regarding definitions of our non-GAAP measures and how we use them, as well as limitations as to their usefulness for comparative purposes, please see our press release, which was issued this afternoon and was furnished to the SEC on Form 8-K.

I would now turn the call over to Cliff who will begin his remarks on Slide 3. Cliff?

Cliff Skelton

Good afternoon, everyone. It's great to have this opportunity to introduce myself to the investment community. I joined Conduent as President and Chief Operating Officer in June and earlier this week was named Interim CEO and a member of our Board of Directors. Along with my colleagues, I spent the last seven weeks meeting with Conduent's clients, our vendors and our partners as well as employees throughout the organization. And what I learned on those visits was that our primary focus here at Conduent really needs to be on operational excellence. We need to establish a best-in-class service and sales delivery capability, while furthering our technology enablement, all of which are critical to our pivot to growth and our long-term success.

That said, we have the capability, we have the assets