Welcome to our dedicated page for Alight news (Ticker: ALIT), a resource for investors and traders seeking the latest updates and insights on Alight stock.
Alight, Inc. (NYSE: ALIT) is a leading cloud-based provider of integrated digital human capital and business solutions. Alight leverages its proprietary AI and data analytics to optimize Business Process as a Service (BPaaS), delivering superior outcomes for employees and employers across a comprehensive portfolio of services. With a staunch belief that a company's success starts with its people, Alight helps organizations of all sizes enrich employee health, wealth, and work while fostering a high-performance culture.
Alight's innovative solutions include benefits administration, healthcare navigation, payroll processing, and HR management, all unified under the Alight Worklife® platform. This platform combines data-driven insights with a seamless user experience, enabling 36 million people and dependents to make confident health, wealth, and wellbeing decisions.
In 2023, Alight reported notable financial achievements, including robust BPaaS bookings of $261 million in Q4, annual cash from operations increasing by $100 million to $386 million, and surpassing its adjusted EPS guidance range. For 2024, Alight has $3 billion of revenue under contract, underscoring its strong market position.
Alight continues to innovate and expand its offerings. Recent highlights include the integration of SAP S/4HANA Cloud into its payroll services, new enhancements to its LeavePro absence management software, and strategic partnerships. The company’s focus on delivering personalized, data-driven solutions helps employers optimize costs, improve employee engagement, and achieve better outcomes.
Headquartered in Lincolnshire, Illinois, Alight employs over 15,000 dedicated colleagues who serve more than 30 million employees and family members. The company prides itself on its commitment to sustainability, diversity, and ethical business practices, as demonstrated in its 2024 Global Impact Report.
For more information, visit Alight's website.
Alight (NYSE: ALIT) has announced that it will release its second quarter 2024 results before the market opens on Tuesday, August 6, 2024. Following the release, the company's management will host a webcast at 8:30 a.m. ET to discuss the results. Investors and interested parties can access the webcast and accompanying presentation of financial information through the 'Events & Presentations' section of Alight's website. This announcement provides shareholders and analysts with a clear timeline for when to expect Alight's latest financial performance data and the opportunity to hear directly from management about the company's progress and outlook.
Alight (NYSE: ALIT) has finalized the sale of its Professional Services segment and Payroll & HCM Outsourcing businesses to an affiliate of H.I.G. Capital for up to $1.2 billion. The transaction includes $1 billion in cash upfront and up to $200 million in seller notes, contingent on performance targets for 2025. Most proceeds will reduce Alight's debt, lowering its net leverage ratio below three times. The remaining funds will go toward share repurchases and general corporate needs. CEO Stephan Scholl highlighted this move as a strategic step to simplify Alight's focus on employee wellbeing and benefits. A webcast will be posted on July 18, 2024, detailing pro forma results.
Alight, a cloud-based human capital technology provider, has announced a $75 million accelerated share repurchase agreement (ASR) with Barclays Bank PLC. This deal is part of Alight's existing share repurchase program, which had a remaining authority of $168 million as of June 14, 2024. Alight will make an initial payment of $75 million and receive shares worth 80% of this amount based on the closing share price on July 15, 2024. The final share count will be determined by the volume-weighted average price during the term, with the transaction expected to settle in Q3 2024. Alight can terminate the ASR before July 15, 2024.
CEO Stephan Scholl highlighted that the agreement reflects confidence in Alight's business and aligns with their goal of enhancing shareholder value through strategic operations and improved cash flow.
Edward Auriemma will join Körber on 08 July 2024 as the new CEO of its supply chain software business, a joint venture with KKR. Edward brings significant experience from his previous roles, including Chief Operating Officer at Blue Yonder, where he enhanced global operations and market standing, and Chief Operations Officer at Alight Solutions, leading them to a successful public listing on the NYSE (ALIT). Stephan Seifert, CEO of Körber Group, expressed enthusiasm for Edward's appointment, emphasizing his market knowledge and strategic growth capabilities. Edward aims to drive innovation and efficiency within Körber's supply chain software sector.
Alight (NYSE: ALIT) released its 2024 Global Impact Report, emphasizing its 2023 achievements and future plans in environmental, social, and governance (ESG) areas.
The report highlights Alight's formalized ESG strategy, focusing on championing people, social innovation, and responsible business practices. Key 2023 accomplishments include publishing a Human Rights Policy, launching Alight's first Diversity Report, and enhancing the Alight Worklife platform for employee well-being. The company also committed to using 100% renewable electricity by 2032 and formalized its AI policy for ethical use of technology.
In 2024, Alight conducted a double materiality assessment to identify critical ESG factors, which will shape its strategic roadmap. The strategy will focus on six areas: empowering healthy minds, bodies, wallets, and lives; increasing diversity; colleague development; sustainable innovation; ethical practices; and reducing environmental impact.
Alight (NYSE: ALIT), a cloud-based human capital technology and services provider, announced that CEO Stephan Scholl and CFO Jeremy Heaton will present at the 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference. The event is scheduled for Tuesday, May 21, 2024, at 8:50 a.m. ET, and will be available via live webcast.
Alight, Inc. (NYSE: ALIT) reported its first quarter 2024 results with a 21% growth in BPaaS revenue, $100 million cash from operations, and $3.1 billion total company revenue under contract for 2024. The company announced an agreement to sell Payroll and Professional Services business for up to $1.2 billion, with expected closing in mid-year 2024. Alight also promoted Greg Goff to President and Jeremy Heaton to Chief Financial Officer. Despite some revenue decreases and an increase in net loss, the company remains optimistic about its transformation and profitability growth for the future.
Alight announced two leadership changes with Jeremy Heaton being promoted to Chief Financial Officer and Katie Rooney focusing on supporting the closure of the Payroll and Professional Services divestiture. Greg Goff was promoted to President. These changes are part of the Company's ongoing transformation. Heaton has over two decades of financial experience, including at GE, while Goff has 23 years of experience in the technology industry.
Alight, Inc. (NYSE: ALIT) appoints Dave Guilmette and Coretha Rushing as independent directors to its Board of Directors as part of a cooperation agreement with Starboard Value LP. The Board will also seek to appoint an additional director with benefits administration experience. The Company plans to hold an investor day to discuss financial outlook post-sale of certain segments. The appointments aim to enhance corporate governance and shareholder value.
Alight (NYSE: ALIT) is set to announce its first-quarter 2024 financial results on May 8, 2024. The management will discuss the results in a webcast at 8:30 a.m. ET. The financial information presentation will be publicly available on Events & Presentations. A replay of the call will be accessible on the Company website and via phone until May 22, 2024.
FAQ
What is the current stock price of Alight (ALIT)?
What is the market cap of Alight (ALIT)?
What services does Alight, Inc. provide?
What is Alight Worklife®?
How many people does Alight serve?
What recent financial achievements has Alight reported?
What is Alight's approach to sustainability and governance?
Where is Alight, Inc. headquartered?
How many employees does Alight have?
What are some recent innovations by Alight?
What is BPaaS in the context of Alight's services?
How can Alight's solutions benefit employers?
