DXC Technology Company (NYSE:DXC) Q4 2020 Earnings Conference Call - Final Transcript

May 28, 2020 • 04:45 pm ET


DXC Technology Company (NYSE:DXC) Q4 2020 Earnings Conference Call - Final Transcript


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Good day, and welcome to the DXC conference call.

[Operator Instructions]

At this time, I would like to turn the conference over to Shailesh Murali. Please go ahead, sir.

Shailesh Murali

Thank you, and good afternoon, everyone.

I'm pleased that you're joining us for DXC's Fourth Quarter and Full-Year Fiscal 2020 Earnings Call.

Our speakers on today's call will be Mike Salvino, our President and Chief Executive Officer, and Paul Saleh, our Chief Financial Officer. This call is being webcast at dxc.com/investorrelations, and the webcast includes slides that will accompany the discussion today. After the call, we will post these slides on the Investor Relations section of our website.

Slide 2 informs our participants that DXC Technology's presentation includes certain non-GAAP financial measures and certain further adjustments to these measures, which we believe provide useful information to our investors. In accordance with SEC rules, we have provided a reconciliation of these measures to their respective and most directly comparable GAAP measures. These reconciliations can be found in the tables included in today's earnings release.

On Slide 3, you will see that certain comments we make on the call will be forward-looking. These statements are subject to known and unknown risks and uncertainties, which could cause the actual results to differ materially from those expressed on the call. A discussion of these risks and uncertainties is included in our annual report on Form 10-K and other SEC filings. I would like to remind our listeners that DXC Technology assumes no obligation to update the information presented on the call except as required by law.

And now I'd like to introduce DXC Technology's President and CEO, Mike Salvino. Mike?

Mike Salvino

Thank you, Shailesh, and I appreciate everyone joining us today.

This is the first time we've connected since the COVID crisis, and I hope you and your families are staying well. I'm going to start today's call by sharing some big picture context about what we've accomplished since the last time we spoke. I will then discuss feedback we have been receiving from our customers who are recognizing our outstanding operational performance during the COVID-19 crisis. Before I hand the call over to Paul, I will also provide an update on our transformation journey. Paul will then share our financials, including an update on the actions we have taken to strengthen our liquidity and enhance our financial flexibility. Then I'll make some closing remarks before opening the call up for questions.

I am pleased with the quarter. We have been making good progress with our customers. Since I started in September, we have been focused on improving customer delivery and building stronger customer relationships, and we have done both this quarter. On customer delivery, we have now fixed 35 of the 40 challenged accounts. Of the remaining five, two have decided to leave us, and we are still working the other three. Investing to fix these accounts was something I highlighted during my first earnings call, and I'm happy to report this is pretty much behind