Welcome to our dedicated page for Unisys Corporation news (Ticker: UIS), a resource for investors and traders seeking the latest updates and insights on Unisys Corporation stock.
Unisys Corporation (NYSE: UIS) is a global information technology company that provides innovative, industry-focused solutions integrated with cutting-edge security to clients in government, financial services, and commercial markets. The company operates through three main segments: Digital Workplace Solutions (DWS), Cloud, Applications & Infrastructure Solutions (CA&I), and Enterprise Computing Solutions (ECS).
Digital Workplace Solutions (DWS) focuses on transforming digital workplaces securely to create exceptional end-user experiences. This segment has witnessed increased activity with existing clients, contributing to consistent growth.
Cloud, Applications & Infrastructure Solutions (CA&I) offers digital platform services, application solutions, and infrastructure management. The segment is known for its robust digital platform solutions, and its recent performance has been bolstered by new business with existing clients.
Enterprise Computing Solutions (ECS) harnesses secure, continuous high-intensity computing to enable digital services through software-defined operating environments. The ECS segment recently unveiled the Unisys Logistics Optimization™ solution, leveraging quantum computing, advanced analytics, and pre-trained AI models to address complex logistics challenges more efficiently.
Financially, Unisys reported another solid quarter with a 0.7% year-over-year revenue growth. The company saw a significant increase in Next-Gen Solutions pipeline, indicating a strong market reception to its innovations. Recent reports highlight a robust pipeline and increased client consumption levels, particularly in the Digital Workplace Solutions and Cloud, Applications & Infrastructure Solutions segments.
Unisys has also been proactive in reducing its pension liabilities and volatility, completing multiple retiree buyouts while securing benefits with highly-rated insurance companies. Significant partnerships, like those with F&G Annuities & Life, reflect Unisys' strategic management of pension obligations.
The company has also been recognized for its innovative rebranding efforts, winning the top prize at The Drum Awards Festival in the B2B: Rebrand or Relaunch category. The new brand positioning, 'Experience Breakthroughs,' underscores Unisys' commitment to enabling transformative breakthroughs for its clients.
Unisys is committed to continuous improvement and growth. The company has reiterated its full-year 2024 revenue growth and profitability guidance, emphasizing its strong performance pipeline and strategic market position. Its leadership team, led by CEO Peter A. Altabef, remains focused on leveraging new technologies and driving operational efficiencies to unlock value for clients and shareholders.
On February 24, 2021, Unisys Corporation (NYSE: UIS) announced several significant contracts awarded in Q4 2020. These include a contract with a global healthcare provider for digital workplace solutions impacting 39,000 employees, a scope contract from a U.S. state government to support a remote-first strategy using CloudForte®, and a renewal with the New Zealand Transport Agency for its Registry Suite utilizing Unisys AB Suite®. President Eric Hutto emphasized the alignment of their solutions with client objectives, highlighting the company's growing recognition in the industry.
Unisys Corporation (UIS) reported strong financial performance for FY20, exceeding company expectations. In 4Q20, revenue increased by 5.5% YoY to $576.9 million, with a significant operating profit margin improvement of 640 bps YoY to 8.3%. Despite a decline of 8.8% in FY20 revenue, non-GAAP operating profit margin rose to 7.5%. The cash balance at the end of FY20 was $898.5 million, up from $538.8 million in FY19. The company also successfully reduced its pension obligations by approximately $710 million. Unisys is focused on higher-growth markets following restructuring.
Unisys Corporation (NYSE: UIS) has announced its partnership with Lenovo to enhance Lenovo's Internet of Things (IoT) solutions, specifically the ThinkIoT Back to Work and Smarter Store Solutions. This collaboration will enable Unisys to offer essential Digital Workplace Services, including deployment and lifecycle management, to Lenovo's customers globally, supporting businesses in over 100 countries. The partnership aims to facilitate a safer return to work environments amid the pandemic, leveraging IoT technology for improved operational productivity.
Unisys Corporation (NYSE: UIS) has been recognized for the third consecutive year as a Microsoft Azure Expert Managed Service Provider (MSP). This status underscores Unisys's capability to facilitate secure and compliant cloud environments using their Cloud Management Platform (CMP) and CloudForte® technologies. Over 500 certified professionals assist clients in migrating critical workloads to Azure, ensuring compliance, governance, and enhanced security. In Q4 2020, Unisys was acknowledged as a leader in cloud offerings by both Information Services Group and Nelson Hall.
Unisys Corporation (NYSE: UIS) has announced a significant contract with TravelSky, enhancing their ClearPath Forward technology to improve operational capacity for China's aviation sector. The upgrade includes advanced ClearPath OS 2200 software and application development services, aimed at facilitating critical transactions like reservations and cargo bookings. This collaboration comes as the Civil Aviation Administration of China reports a 91.07% recovery in air travel compared to 2019, indicating a strong recovery post-COVID-19.
Unisys Corporation (NYSE: UIS) has extended its partnership with pro golfer Ryan Palmer for 2021, a collaboration that began in 2018. Palmer achieved notable success on the PGA TOUR, including eight Top-10 finishes during the current and previous seasons. He will display Unisys branding in all competitions and events throughout the year. The partnership reflects shared values, focusing on continuous improvement and community support. Unisys aims to leverage Palmer's growing momentum in golf to enhance its brand image and connection with clients.
Unisys Corporation (NYSE: UIS) will release its fourth-quarter and full-year 2020 financial results on February 22, 2021, after market close. A conference call for discussion of the results will follow on February 23, 2021, from 8:00 - 9:00 a.m. Eastern Time. The call can be accessed via a live Webcast on the Unisys Investor Website, with a replay available post-call. Unisys is recognized for delivering integrated IT services across various sectors, emphasizing security in its solutions.
Unisys Corporation (NYSE: UIS) has received research funding from the Artificial Intelligence (AI) for Decision Making Initiative to explore AI and Machine Learning (ML) applications for identifying deceitful writing. This initiative is a collaboration with Australia's Office of National Intelligence and Department of Defence, focusing on enhancing AI capabilities relevant to national security. Unisys aims to develop solutions that could potentially assist in forensic analysis and cybersecurity, with expected results to be presented in early 2021.
Unisys Corporation (NYSE: UIS) announced a $280 million agreement with MassMutual to purchase a group annuity contract. This will transfer pension obligations related to certain retirees, resulting in a one-time, non-cash pre-tax settlement charge of approximately $150 million. This action follows a $276 million lump-sum cash-out offer to former U.S. associates. The company aims to reduce global pension liabilities by $1 billion by Q1 2021, affecting about 11,600 retirees with unchanged monthly benefits.
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