WASHINGTON (dpa-AFX) - (Adds Outlook)
DXC Technology Company (DXC) revised its outlook for the full year 2024.
The company increased the low end of the full year adjusted EBIT margin outlook range by 50 basis points to 6.5% - 7.0%. It increased the low-end of the full-year adjusted earnings outlook range by $0.25 to $2.75 - $3.00 per share.
It also increased full year free cash flow outlook by $50 million to around $450 million.
The company now expects total revenue of $12.74 billion and $13.02 billion, compared to the prior outlook of $12.67 billion to $12.95 billion, a decline of 6% to 4% on an organic basis.
For the second-quarter, the company expects revenues of $3.19 billion and $3.22 billion, a decline of 6.5% to 5.5% year-over-year on an organic basis, and adjusted earnings of $0.70 to $0.75 per share.
Q1 Results:
DXC Technology released earnings for first quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings came in at $26 million, or $0.14 per share. This compares with $36 million, or $0.17 per share, in last year's first quarter.
Excluding items, DXC Technology Company reported adjusted earnings of $136 million or $0.74 per share for the period.
Analysts on average had expected the company to earn $0.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 6.1% to $3.236 billion from $3.446 billion last year.
DXC Technology Company earnings at a glance (GAAP) :
-Earnings (Q1): $26 Mln. vs. $36 Mln. last year. -EPS (Q1): $0.14 vs. $0.17 last year. -Revenue (Q1): $3.236 Bln vs. $3.446 Bln last year.
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