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DXC Technology Company (NYSE: DXC) stands as a leading independent IT services provider, offering a comprehensive range of end-to-end services to clients worldwide. Formed through the merger of CSC and the Enterprise Services business of Hewlett Packard Enterprise, DXC boasts a 60-year legacy of excellence in IT solutions, managing to generate annual revenues of $25 billion.
Headquartered in Ashburn, Virginia, DXC operates across more than 70 countries, making an impact with its diverse and global talent pool. The company's offerings span two key segments: Global Business Services (GBS) and Global Infrastructure Services (GIS), with the latter contributing the most to DXC's revenue. The GIS segment focuses on modern workplace solutions, IT outsourcing, cloud services, and robust security measures.
DXC's recent achievements include obtaining the Science Based Targets initiative (SBTi) approval for its near-term emissions reduction targets, underscoring its commitment to sustainable business practices. The company's pledge to sustainability has also been recognized with the EcoVadis Gold Medal for three consecutive years and a spot on USA Today's list of America's Climate Leaders for 2023.
Strategic partnerships are a cornerstone of DXC's business model. Notable collaborations include a recent alliance with CyCognito to enhance its cybersecurity services and a joint venture with Ferrovial and Microsoft to develop the generative AI platform Quercus. These partnerships are pivotal in driving innovation and providing cutting-edge solutions to clients globally.
DXC's financial health is solid, supported by a diversified revenue stream and a strong presence in the European market. The company continues to innovate with offerings like the new DXC Fast RISE with SAP service, which accelerates SAP S/4HANA projects, enabling faster time-to-value for customers. This service showcases DXC's ability to streamline IT processes and reduce the total cost of ownership for businesses.
As a trusted partner for the world's largest companies and public sector organizations, DXC excels in modernizing IT infrastructure, optimizing data architectures, and ensuring security and scalability across various cloud environments. The company remains dedicated to delivering top-tier performance, enhancing customer experiences, and driving competitive advantage for its clients.
DXC Technology reported Q1 FY23 revenues of $3.71 billion, a 10.5% decline year-over-year and a 2.6% decrease organically. Diluted EPS stood at $0.43, compared to $1.07 in Q1 FY22. The company generated $163 million in operating cash flow but reported a free cash flow of $(12) million. The book-to-bill ratio was 0.87x for the quarter, with a trailing twelve-month ratio of 1.06x. DXC returned $266 million to shareholders via repurchases. Guidance for Q2 includes organic revenue growth between (2.5)% and (1.5)%.
DXC Technology collaborates with SAP to offer workforce management solutions for healthcare providers, focusing on employee well-being to enhance patient care. A recent Frost & Sullivan report emphasizes the need for supporting healthcare teams amid rising stress and demand. The study outlines various technological advancements aimed at improving staff experience and engagement. Key elements of DXC's Workforce Suite include talent management, career development, and performance management tools, assisting healthcare organizations in achieving better patient outcomes by prioritizing employee health.
DXC Technology's Americas Microsoft Dynamics team is joining Ernst & Young to enhance digital solutions for clients in finance, operations, and supply chain management. This acquisition supports EY's NextWave strategy, focusing on technology capabilities and improving business goals. The new team brings extensive Microsoft Dynamics experience, expanding EY's service offerings. With AI-driven insights and advanced analytics, the integration aims to strengthen EY's position in the digital transformation space, meeting high demand for Microsoft skills.
DXC Technology (NYSE: DXC) will announce its financial results for the first quarter of fiscal year 2023 on August 3, 2022, at 4:15 p.m. EDT. A conference call will follow at 5:00 p.m. EDT, with domestic participants dialing 888-330-2455 and international callers +1-240-789-2717. The passcode is 4164760. A replay will be available until August 10, 2022. Key details and presentation materials will be accessible on the Investor Relations website.
Manchester United has announced a multi-year global partnership with DXC Technology, aiming to enhance the club's digital engagement with fans. Starting in the 2022/23 season, DXC will feature on the team's kits, increasing its global visibility. The partnership will focus on using technology to benefit society through educational initiatives for STEM students. Both organizations believe their collaboration will elevate Manchester United's digital transformation, leveraging data and analytics to create new opportunities for fan interaction.
DXC Technology has formed a multiyear partnership with Manchester United to improve the club's digital transformation and fan engagement. Starting July 2022, DXC will serve as the principal partner for digital initiatives and the shirt sleeve sponsor, enhancing Manchester United's digital presence across its platforms. The company will implement a new data platform to optimize fan experiences and support the Manchester United Foundation in education initiatives. This partnership offers DXC significant brand exposure to a global audience of 1.1 billion fans.
DXC Technology (NYSE: DXC) has secured a five-year contract with the European Space Agency (ESA) to provide advanced network and security services. This initiative aims to enhance connectivity for ESA's international workforce of scientists and engineers, enabling seamless collaboration on critical space missions.
DXC will implement the latest software-defined network technology and its Platform X for intelligent automation, improving scalability and security. This contract reinforces DXC's long-standing partnership with ESA and addresses the increasing demand for advanced IT infrastructure.
DXC Technology (NYSE: DXC) has been recognized as a Leader in the IDC MarketScape Worldwide Cloud Professional Services 2022 Vendor Assessment. This accolade highlights DXC's effective Cloud Right™ strategy in aiding enterprises with cloud and IT modernization. The IDC report praises DXC's extensive cloud professional services and the impact of its acquisitions, including Virtual Clarity and Luxoft. The company has made significant progress in addressing customer pain points and is noted for its end-to-end service capabilities, driving performance improvements and risk management in IT operations.
DXC Technology (NYSE: DXC) will participate in the Baird Global Consumer, Technology, and Service Conference on June 6, 2022. John Sweeney, Vice President of Investor Relations, is set to present at 10:15 AM EDT. The presentation will be available on DXC's investor webpage. DXC Technology assists global organizations in managing critical systems while modernizing IT and ensuring security across various cloud environments. For comprehensive information, visit DXC.com.
On June 2, 2022, DXC Technology announced a multiyear contract with DIRECTV to enhance and modernize its IT systems. The partnership, extending over 25 years, focuses on IT outsourcing services that upgrade infrastructure and program management. This initiative aims to reduce costs, improve automation and security, and enhance reliability in billing and customer management systems. Additionally, it supports cloud migration and infrastructure modernization to drive customer retention and expansion opportunities.
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