DXC Technology Lifts FY21 EPS Outlook, But Cuts Revenue Guidance

DXC Technology Company (DXC) Wednesday revised its full-year outlook. The company increased its adjusted earnings guidance, but lowered its revenue guidance range due to foreign exchange fluctuations.

The company now expects adjusted earnings of $3.52 to $3.72 per share and revenues of $16.4 billion to $16.6 billion

Previously, the company expected adjusted earnings of $3.45 to $3.65 per share and revenues of $16.6 billion to $16.8 billion.

Analysts polled by Thomson Reuters currently estimate earnings of $3.59 per share on revenues of $16.76 billion.

CFO Ken Sharp said, "The second quarter of fiscal year 2022 saw continued progress toward building our strong financial foundation for DXC. Our recent refinancing extends debt maturities, lowers maturity towers, and reduces ongoing interest expense by approximately $50 million annually. We continue to significantly reduce restructuring and TSI expense, lower capital lease payments, reduce our facility footprint and drive our ongoing cost optimization program. Taken together, these initiatives are driving an improvement in DXC's free cash flow generation capability."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Japanese entrepreneur Yusaku Maezawa has selected ten crewmembers, comprising artists, content creators, and athletes, to fly with him on SpaceX's Starship around the Moon on the dearMoon mission. SpaceX's first private lunar flight with dearMoon crew, including two backups, is planned to take place in 2023. Maezawa announced the crew for the mission in a YouTube video and a tweet. SpaceX, owned by Elon Musk, has launched 40 satellites of British communications network OneWeb into orbit. From NASA's Kennedy Space Center or KSC in Florida, Falcon 9 rocket on Thursday evening carried the satellites. The Falcon 9's first stage separated, and it then returned to Earth to make a landing on a SpaceX pad at the nearby Cape Canaveral Space Force Station. Google, owned by Alphabet Inc., plans to merge its teams working on Maps products and the mapping service Waze with effect from December 9, reports said. The decision to consolidate processes comes as the search giant is facing pressure to streamline operations and cut costs. The restructuring is expected to reduce overlapping work across the Waze and Maps products.
Follow RTT