Q1 2025 Kyndryl Holdings Inc Earnings Call Transcript
Key Points
- Signings were up 14% in the quarter in constant currency, indicating strong demand.
- Pretax earnings increased significantly year over year, showing financial improvement.
- Kyndryl consult revenues grew 14% year over year in constant currency, highlighting growth in advisory services.
- The company is on track to generate nearly $1 billion in hyperscaler-related revenue this year.
- Kyndryl bridge has provided customers with productivity benefits totaling nearly $3 billion annually.
- Revenue declined 8% year over year in constant currency, primarily due to exiting low-margin revenue streams.
- Currency headwinds impacted reported revenue by $100 million year over year.
- Adjusted free cash flow was negative $116 million in the first quarter, reflecting seasonal cash usage.
- The company incurred workforce rebalancing charges and increased IBM software costs.
- Revenue outlook for fiscal 2025 is still expected to decline by 2% to 4% in constant currency.
Good day and thank you for standing by, and welcome to the Kindred Fiscal First Quarter 2025 earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Lori Chaitman. Please go ahead.
Good morning, everyone, and welcome to Kindred's earnings call for the first fiscal quarter ended June 30, 2024.
Before we begin, I'd like to remind you that our remarks today will include forward looking statements. These statements are subject to risk factors that may cause our actual results you differ materially from those expressed or implied. These forward-looking statements speak only to our expectations as of today. For more details on some of these risks, please see the Risk Factors section of our annual report on Form 10 K and for the year ended March 31, 2024.
In today's remarks, we'll also refer to certain non-GAAP financial metrics, corresponding GAAP
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