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.
Unisys Corporation (NYSE: UIS) announced the release of Stealth 6.0, enhancing IT security management through improved visualization and dashboard tools. The update includes AI-driven automation for quick installation and configuration, and supports various environments including public, private, and multi-cloud platforms. With features like automated enterprise security and a comprehensive real-time dashboard, Stealth 6.0 aims to streamline security processes and reduce complexity amidst rising remote work demands. This solution is designed to meet compliance standards while lowering operational costs.
Unisys Corporation (NYSE: UIS) announced new cloud contracts with public sector clients, awarded in Q3 2020. The contracts include a five-year agreement with North Dakota's Job Service for unemployment insurance support, utilizing ClearPath® MCP Software Series for Azure and CloudForte® consulting services. Additionally, the European Fisheries Control Agency engaged Unisys for a Cloud and IT Architecture assessment, while an Australian state government agency expanded its cloud services. Unisys aims to help clients enhance service delivery and manage financial strains amid the COVID-19 pandemic.
Unisys Corporation (NYSE: UIS) has successfully closed a private offering of $485 million in 6.875% Senior Secured Notes due 2027. The proceeds will primarily address its underfunded U.S. pension liability. The notes are secured by liens on most of Unisys's assets and will be guaranteed by its domestic subsidiaries. Additionally, Unisys has amended its revolving credit facility to increase borrowing capacity to $175 million and extend maturity to October 2025. This financial strategy aims to enhance liquidity and manage liabilities effectively.
Unisys Corporation reported Q3 2020 revenue of $495.2 million, up 12.9% sequentially but down 10.3% year-over-year. The operating profit margin improved 750 bps sequentially to 5.6%, while non-GAAP operating profit margin rose 830 bps to 8.5%. Operating cash flow increased by $80.5 million sequentially to $66.3 million, and free cash flow reached $34.3 million, a growth of $83.9 million sequentially. The company expects to significantly reduce future pension contributions, with a potential deficit reduction of $478 million.
Unisys Corporation (NYSE: UIS) has priced $485 million in Senior Secured Notes due 2027, set to close on October 29, 2020. Proceeds will address its underfunded U.S. pension liability. The notes carry an interest rate of 6.875%, with payments starting on May 1, 2021. Guaranteed by major domestic subsidiaries, these notes are secured by substantially all of Unisys's assets. They are being offered privately under Rule 144A and Regulation S, and not registered under the Securities Act.
Unisys Corporation (NYSE: UIS) announced a proposed private offering of $400 million in Senior Secured Notes due 2028. The offering will be available under Rule 144A and Regulation S, aimed at qualified institutional buyers. Net proceeds from this offering will be used to address Unisys's underfunded U.S. pension liability. The notes will be secured by liens on nearly all assets of Unisys and its domestic subsidiaries. This move highlights Unisys's commitment to enhancing its financial position while addressing pension obligations.
Unisys Corporation (NYSE: UIS) will release its third-quarter 2020 financial results on October 27, 2020, before the market opens. The company will follow this with a conference call aimed at the financial community from 8:00 to 9:00 a.m. Eastern Time. Investors can listen to the event via a live Webcast on the Unisys Investor Website, with a replay available thereafter.
Unisys is a global IT services firm that integrates security within its offerings, which include cloud services and digital workplace solutions for various sectors.
Unisys Corporation (NYSE: UIS) announced the launch of the ClearPath MCP Software Series for Microsoft Azure, marking the first time its flagship software is available in the public cloud. This initiative allows clients to transition their IT infrastructure to the cloud without altering existing business models or incurring extra costs for server platforms. The offering integrates with Unisys CloudForte hybrid and multi-cloud services and Stealth cybersecurity solutions, providing enhanced security and operational efficiency. Clients, including the Job Service of North Dakota, are adopting this solution to improve agility and reduce capital costs.
Unisys Corporation (NYSE: UIS) announced it will co-host a National Cybersecurity Moonshot Virtual Workshop on October 5-6, 2020, focusing on cyber education. This workshop, in collaboration with American University, CIS, and I3P, aims to enhance the quality and diversity of cybersecurity talent. Keynote speakers include prominent figures from government and academia. CEO Peter Altabef emphasized the importance of partnerships in cultivating diverse talent and addressing cybersecurity challenges through education, particularly in advanced technologies like AI and quantum encryption.
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