Conduent Inc - CNDT STOCK NEWS

Conduent Incorporated (Nasdaq: CNDT) is set to announce its third-quarter 2021 financial results on November 4, 2021, post-market close. A conference call will follow at 5:00 p.m. ET, available via webcast and by phone. The call’s recording will be accessible shortly after its conclusion until November 18, 2021. Conduent focuses on delivering essential services and solutions for businesses and governments, achieving significant efficiencies and cost savings for its clients.

Conduent, a business process services company, announced successful debt refinancing on October 18, 2021. The refinancing includes $265 million in a five-year term A loan, $515 million in a seven-year term B loan, and a revolving loan facility of up to $550 million. Additionally, they completed a private offering of $520 million in Senior Secured Notes due 2029. The refinancing aims to strengthen Conduent’s financial foundation and provide flexibility for future growth, allowing for optimized capital allocation.

Conduent Incorporated (Nasdaq: CNDT) celebrated Customer Service Week by recognizing the efforts of its 60,000 associates who facilitate over 200 million customer interactions annually. The company emphasizes the critical role of customer service, supported by numerous impactful stories from its associates. Conduent serves various industries, including healthcare and government, and is noted for delivering solutions that enhance efficiency and reduce costs, resulting in significant savings for clients. The commitment of its workforce is central to Conduent's operations, impacting millions globally.

Conduent, alongside Getnet and Work Level, has launched a contactless payment system for three lines of the Mexico City Metrobús. This initiative allows nearly 1 million users to pay fares using major contactless credit and debit cards as well as NFC-enabled devices. The system includes advanced ticket vending machines and a back-office fare collection system under the EMV payment model, marking a significant upgrade in public transit payment systems in Latin America. This collaboration aims to enhance ridership experiences with modern payment methods.

Conduent is now assisting approximately 10.4 million recipients with state benefits through the Pandemic Electronic Benefit Transfer (P-EBT) program, a figure that has more than doubled from the previous year. Additionally, 12 million recipients are supported under the Supplemental Nutrition Assistance Program (SNAP), marking an 18% increase since the pandemic began. Conduent provides over 40% of the nation’s SNAP payments for 25 state agencies, showcasing the company's critical role in addressing food assistance needs amidst ongoing economic challenges.

Conduent has secured a contract valued at approximately $51 million from the Virginia Department of Transportation to design, implement, and operate express tolling lanes on Interstate 64 in Hampton Roads. This contract involves a 16-month implementation period, focusing on dynamic pricing and vehicle occupancy detection to enhance traffic flow and reduce congestion. Conduent will maintain multiple tolling zones once operational, expected to be completed by the end of 2022.

Conduent has renewed its partnership with the New Hampshire Department of Health and Human Services to modernize the state’s Medicaid Management Information System (MMIS). The contract, valued at approximately $206 million, includes a five-year base term with an option to extend until 2031. Conduent will enhance the MMIS by improving security, processing speed, and operational efficiency, serving around 220,000 beneficiaries and processing over 15 million claims annually. This partnership underscores Conduent’s expertise in government healthcare solutions.

Conduent (Nasdaq: CNDT) published its 2020 Corporate Social Responsibility (CSR) report, showcasing its commitment to ethical and sustainable business practices. Key highlights include a 50% reduction in real estate footprint, a 23% decrease in Scope 2 CO₂ emissions, and the recycling of over 53 million pounds of materials. The report emphasizes advancements in diversity and inclusion, enhanced associate wellness benefits, and a strengthened ethics program. Conduent's ESG initiatives align with five United Nations Sustainable Development Goals, focusing on community support and sustainability.

Conduent has secured a contract with the Kansas Department for Children and Families to modernize its child support case management system for approximately 131,000 children and their parents. The project will transition from a legacy mainframe to a web-based application on the Azure Cloud platform. The 19-month implementation will be followed by a year of maintenance support. This initiative aims to reduce long-term costs and improve service continuity.