• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Unisys Announces 4Q and Full-Year 2024 Results

    2/18/25 4:30:00 PM ET
    $UIS
    EDP Services
    Technology
    Get the next $UIS alert in real time by email

    Company Exceeds Profitability Guidance and Meets Revenue Guidance, Significantly Improves Operating and Free Cash Flow Year over Year

    • Full-year gross profit margin of 29.2%, up 180 bps year over year (YoY); Excluding License and Support (Ex-L&S)(13) gross profit margin of 17.6%, an improvement of 250 bps YoY
    • Full-year operating profit margin of 4.8%, an improvement of 100 bps YoY; non-GAAP operating profit(6) margin of 8.8%, an improvement of 180 bps YoY
    • Full-year revenue of $2,008.4 million, (0.3)% YoY as reported and in constant currency(1); in-line with the company's full-year guidance
    • Full-year operating cash flow of $135.1 million compared to $74.2 million in 2023, and free cash flow(9) of $55.3 million compared to ($4.5) million in 2023
    • Full-year New Business(5) Total Contract Value (TCV)(3) of $791 million, an increase of 29% YoY driven by new logo signings
    • Company issues full-year 2025 guidance of 0.5% to 2.5% YoY revenue growth in constant currency and 6.5% to 8.5% non-GAAP operating profit margin

    BLUE BELL, Pa., Feb. 18, 2025 /PRNewswire/ -- Unisys Corporation (NYSE:UIS) reported financial results for the fourth quarter and full year 2024.

    Unisys Logo (PRNewsfoto/Unisys Corporation)

    "In 2024, we exceeded the top end of our upwardly revised profitability guidance range and met our revenue guidance," said Unisys Chair and CEO Peter A. Altabef. "We have improved the profitability of our Ex-L&S solutions and are seeing positive consumption trends and long-term client commitment to our highly profitable L&S platforms. We laid a strong foundation for future growth, signing 29% more New Business TCV driven by New Logo signings, which we believe validates the increasing recognition our solutions are receiving from our clients, prospects, industry analysts and advisors."

    Unisys Chief Financial Officer Deb McCann said, "We are continuing to execute our strategy to enhance pre-pension and postretirement free cash flow, which nearly doubled to $82 million for the full year. We believe we have a solid liquidity position and expect rising Ex-L&S profit contribution, operational efficiency and improved cash conversion will allow us to fund our future pension contributions and organic investments for profitable growth."

    Financial Highlights

    Please refer to the accompanying financial tables for a reconciliation of the GAAP to non-GAAP measures presented except for financial guidance since such a reconciliation is not practicable without unreasonable effort.

    (In millions, except numbers presented as percentages)



    4Q24



    4Q23



    FY24



    FY23

    Revenue



    $545.4



    $557.6



    $2,008.4



    $2,015.4

    YoY revenue growth



    (2.2) %







    (0.3) %





    YoY revenue growth in constant currency



    (1.5) %







    (0.3) %





    Ex-L&S revenue



    $393.7



    $413.3



    $1,576.9



    $1,586.3

    YoY revenue growth



    (4.7) %







    (0.6) %





    YoY revenue growth in constant currency



    (4.8) %







    (0.6) %





    License and Support (L&S)(12) revenue



    $151.7



    $144.3



    $431.5



    $429.1

    YoY revenue growth



    5.1 %







    0.6 %





    YoY revenue growth in constant currency



    8.4 %







    0.8 %























    Gross profit



    $175.0



    $181.2



    $585.9



    $551.3

    Gross profit percent



    32.1 %



    32.5 %



    29.2 %



    27.4 %

    Ex-L&S gross profit



    $61.9



    $68.4



    $277.6



    $240.0

    Ex-L&S gross profit percent



    15.7 %



    16.5 %



    17.6 %



    15.1 %



















    Operating profit



    $48.6



    $44.0



    $97.4



    $76.9

    Operating profit percent



    8.9 %



    7.9 %



    4.8 %



    3.8 %

    Non-GAAP operating profit



    $63.3



    $64.0



    $176.4



    $140.8

    Non-GAAP operating profit percent



    11.6 %



    11.5 %



    8.8 %



    7.0 %



















    Net income (loss) attributable to Unisys Corporation



    $30.0



    ($165.3)



    ($193.4)



    ($430.7)

    Non-GAAP net income attributable to Unisys Corporation(8)



    $24.2



    $35.4



    $32.1



    $41.7



















    EBITDA(7)



    $90.3



    ($103.6)



    $39.8



    ($204.5)

    Adjusted EBITDA(7)



    $91.4



    $100.4



    $292.1



    $285.9

    Adjusted EBITDA as a percentage of revenue

    16.8 %



    18.0 %



    14.5 %



    14.2 %

    Fourth Quarter 2024 Results

    Revenue for the fourth quarter of 2024 declined 2.2% YoY, a 1.5% decrease in constant currency, and Ex-L&S revenue declined 4.7% YoY, a 4.8% decrease in constant currency, primarily driven by lower volume with existing clients.

    Gross profit margin the fourth quarter of 2024 declined 40 bps YoY and Ex-L&S gross profit margin declined 80 bps YoY, primarily due to higher cost reduction charges.

    Net income attributable to Unisys Corporation in the fourth quarter of 2024 includes a gain of $40 million related to a favorable settlement of a litigation matter, for which the company received payment of $15 million as of December 31, 2024. The remaining related amount is due mid-2025.

    Financial Highlights by Segment

    (In millions, except numbers presented as percentages)



    4Q24



    4Q23



    FY24



    FY23

    Digital Workplace Solutions (DWS):

















    Revenue



    $128.2



    $139.2



    $523.5



    $546.1

    YoY revenue growth



    (7.9) %







    (4.1) %





    YoY revenue growth in constant currency



    (8.2) %







    (4.2) %





    Gross profit



    $20.4



    $21.3



    $82.1



    $76.2

    Gross profit percent



    15.9 %



    15.3 %



    15.7 %



    14.0 %



















    Cloud, Applications & Infrastructure Solutions (CA&I):

















    Revenue



    $132.1



    $138.9



    $526.9



    $531.0

    YoY revenue growth



    (4.9) %







    (0.8) %





    YoY revenue growth in constant currency



    (5.2) %







    (0.8) %





    Gross profit



    $20.3



    $22.7



    $87.1



    $81.9

    Gross profit percent



    15.4 %



    16.3 %



    16.5 %



    15.4 %



















    Enterprise Computing Solutions (ECS):

















    Revenue



    $208.9



    $203.0



    $651.3



    $648.0

    YoY revenue growth



    2.9 %







    0.5 %





    YoY revenue growth in constant currency



    6.2 %







    1.3 %





    Gross profit



    $135.2



    $136.9



    $391.9



    $396.6

    Gross profit percent



    64.7 %



    67.4 %



    60.2 %



    61.2 %

    Fourth Quarter 2024 Segment Results

    DWS revenue for the fourth quarter of 2024 declined 7.9% YoY, an 8.2% decrease in constant currency, primarily driven by lower volume with existing clients. DWS gross profit margin for the fourth quarter of 2024 was 15.9%, an increase of 60 bps YoY, and for the full year was 15.7%, an increase of 170 bps. The increase in gross profit margin was primarily driven by delivery modernization and efficiency initiatives.

    CA&I revenue for the fourth quarter of 2024 declined 4.9% YoY, a 5.2% decrease in constant currency, primarily driven by lower hardware revenue and volume with existing clients. CA&I gross profit margin for the fourth quarter of 2024 was 15.4%, a decrease of 90 bps YoY. Full-year CA&I gross profit percent was 16.5%, an increase of 110 bps, primarily driven by labor cost savings initiatives.

    ECS revenue for the fourth quarter of 2024 increased 2.9% YoY, a 6.2% increase in constant currency, driven by the timing of software license renewals. ECS gross profit margin for the fourth quarter of 2024 was 64.7%, a decrease of 270 bps YoY, primarily driven by a higher proportion of hardware revenue, which has a lower gross margin relative to license renewals.

    Balance Sheet and Cash Flow

    (In millions)



    4Q24



    4Q23



    FY24



    FY23

    Cash and cash equivalents











    $376.5



    $387.7



















    Cash provided by operations



    $76.6



    $23.0



    $135.1



    $74.2

    Free cash flow



    $55.7



    $4.0



    $55.3



    ($4.5)

    Pre-pension and postretirement free cash flow(10)



    $61.8



    $10.7



    $82.4



    $43.5

    Adjusted free cash flow(11)



    $67.0



    $30.9



    $104.6



    $120.5

    Full-year 2024 free cash flow improved by $59.8 million YoY due to lower international pension contributions and favorable settlements of legal and other matters.

    Sales Metrics

    (In millions, except numbers presented as percentages)



    Amount



    YoY

    Change



    QoQ

    Change*

    4Q24













    TCV













    Total company



    $752



    (35) %



    107 %

    Ex-L&S New Business



    $218



    24 %



    26 %

    Ex-L&S Renewals



    $312



    (62) %



    225 %

    L&S Renewals



    $222



    46 %



    139 %

    FY24













    TCV













    Total company



    $1,946



    (11) %





    Ex-L&S New Business



    $791



    29 %





    Ex-L&S Renewals



    $633



    (50) %





    L&S Renewals



    $522



    77 %







    *   QoQ - quarter over quarter

    In the fourth quarter and full-year 2024, total company TCV and Ex-L&S TCV declined primarily driven by the timing of renewals, partially offset by strong growth in New Business.

    Backlog(2) was $2.84 billion for the fourth quarter 2024 compared to $3.01 billion for the fourth quarter of 2023 and $2.80 billion in the third quarter of 2024. The YoY decrease was primarily driven by the timing of Ex-L&S contract renewals and movement in foreign exchange.

    2025 Financial Guidance

    The company has issued full-year 2025 revenue growth and profitability guidance:



     Guidance

    Revenue growth in constant currency

    0.5% to 2.5%

    Non-GAAP operating profit margin

    6.5% to 8.5%

    Constant currency revenue guidance translates to reported revenue growth of (1.9)% to 0.1% based on exchange rates as of January 31, 2025, and assumes L&S revenue of approximately $390 million and Ex-L&S constant currency revenue growth of 1.0% to 5.0%.

    Conference Call

    Unisys will hold a conference call with the financial community on Wednesday, February 19 at 8 a.m. Eastern Time to discuss the results of the fourth quarter and full-year 2024 and financial guidance for 2025.

    The live, listen-only webcast, as well as the accompanying presentation materials, can be accessed on the Unisys Investor Website at www.unisys.com/investor. In addition, domestic callers can dial 1-844-695-5518 and international callers can dial 1-412-902-6749 and provide the following conference passcode: Unisys Corporation Call.

    A webcast replay will be available on the Unisys Investor Website shortly following the conference call. A replay will also be available by dialing 1-877-344-7529 for domestic callers or 1-412-317-0088 for international callers and entering access code 6837798 from two hours after the end of the call until March 5, 2025.

    (1) Constant currency – A significant amount of the company's revenue is derived from international operations. As a result, the company's revenue has been and will continue to be affected by changes in the U.S. dollar against major international currencies. The company refers to revenue growth rates in constant currency or on a constant currency basis so that the business results can be viewed without the impact of fluctuations in foreign currency exchange rates to facilitate comparisons of the company's business performance from one period to another. Constant currency is calculated by retranslating current and prior-period revenue at a consistent exchange rate rather than the actual exchange rates in effect during the respective periods.

    (2) Backlog – Represents future revenue associated with contracted work which has not yet been delivered or performed. Although the company believes this revenue will be recognized, it may, for commercial reasons, allow the orders to be canceled, with or without penalty.

    (3) Total Contract Value (TCV) – Represents the estimated revenue related to contracts signed in the period without regard for cancellation terms. New Business TCV represents TCV attributable to expansion and new scope for existing clients and new logo contracts.

    (4) Book-to-bill – Represents total contract value booked divided by revenue in a given period.

    (5) New Business – Represents expansion and new scope for existing clients and new logo contracts.

    (6) Non-GAAP operating profit – This measure excludes pretax pension and postretirement expense, pretax goodwill impairment charge and pretax charges or gains associated with certain legal matters related to settlements, professional services and legal fees, including legal defense costs, associated with certain legal proceedings, and cost-reduction activities and other expenses.

    (7) EBITDA & adjusted EBITDA – Earnings before interest, taxes, depreciation and amortization (EBITDA) is calculated by starting with net income (loss) attributable to Unisys Corporation common shareholders and adding or subtracting the following items: net income (loss) attributable to noncontrolling interests, interest expense (net of interest income), provision for (benefit from) income taxes, depreciation and amortization. Adjusted EBITDA further excludes pension and postretirement expense; goodwill impairment charge, certain legal matters related to settlements, professional services and legal fees, including legal defense costs, associated with certain legal proceedings; environmental matters related to previously disposed businesses; cost-reduction activities and other expenses; non-cash share-based expense; and other (income) expense adjustments.

    (8) Non-GAAP net income (loss) and non-GAAP diluted earnings (loss) per share – These measures excluded pension and postretirement expense and charges or (credits) in connection with goodwill impairment; certain legal matters related to settlements, professional services and legal fees, including legal defense costs, associated with certain legal proceedings; environmental matters related to previously disposed businesses; and cost-reduction activities and other expenses. The tax amounts related to these items for the calculation of non-GAAP diluted earnings (loss) per share include the current and deferred tax expense and benefits recognized under GAAP for these items.

    (9) Free cash flow – Represents cash flow from operations less capital expenditures.

    (10) Pre-pension and postretirement free cash flow – Represents free cash flow before pension and postretirement contributions.

    (11) Adjusted free cash flow – Represents free cash flow less cash used for pension and postretirement funding; certain legal matters related to settlements, professional services and legal fees, including legal defense costs, associated with certain legal proceedings; environmental matters related to previously disposed businesses; and cost-reduction activities and other payments.

    (12) License and Support (L&S) – Represents software license and related support revenue within the company's ECS segment.

    (13) Excluding License and Support (Ex-L&S) – These measures exclude revenue, gross profit and gross profit margin in connection with software license and support revenue within the company's ECS segment. The company provides these measures to allow investors to isolate the impact of software license renewals, which tend to be significant and impactful based on timing, and related support services in order to evaluate the company's business outside of these areas.

    Forward-Looking Statements

    This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Unisys cautions readers that the assumptions forming the basis for forward-looking statements include many factors that are beyond Unisys' ability to control or estimate precisely, such as estimates of future market conditions, the behavior of other market participants and that TCV is based, in part, on the assumption that each of those contracts will continue for their full contracted term. Words such as "anticipates," "estimates," "expects," "projects," "may," "will," "intends," "plans," "believes," "should" and similar expressions may identify forward-looking statements and such forward-looking statements are made based upon management's current expectations, assumptions and beliefs as of this date concerning future developments and their potential effect upon Unisys. There can be no assurance that future developments will be in accordance with management's expectations, assumptions and beliefs or that the effect of future developments on Unisys will be those anticipated by management. Forward-looking statements in this release and the accompanying presentation include, but are not limited to, statements made in Mr. Altabef's and Ms. McCann's quotations, any projections or expectations of revenue growth, margin expansion, achievement of operational efficiencies and savings, investments in our solutions and artificial intelligence adoption and innovation, TCV and New Business TCV, the impact of new logo signings, backlog, book-to-bill(4), full-year 2025 revenue growth and profitability guidance, including constant currency revenue, Ex-L&S revenue growth, L&S revenue, non-GAAP operating profit margin, free cash flow generation and the assumptions and other expectations made in connection with our full-year 2025 financial guidance, our pension liability, future economic benefits from net operating losses and statements regarding future economic conditions or performance. 

    Additional information and factors that could cause actual results to differ materially from Unisys' expectations are contained in Unisys' filings with the U.S. Securities and Exchange Commission (SEC), including Unisys' Annual Reports on Form 10-K and subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other SEC filings, which are available at the SEC's web site, http://www.sec.gov. Information included in this release is representative as of the date of this release only and while Unisys periodically reassesses material trends and uncertainties affecting Unisys' results of operations and financial condition in connection with its preparation of management's discussion and analysis of results of operations and financial condition contained in its Quarterly and Annual Reports filed with the SEC, Unisys does not, by including this statement, assume any obligation to review or revise any particular forward-looking statement referenced herein in light of future events.

    Non-GAAP Information

    This release includes certain non-GAAP financial measures that exclude certain items such as postretirement expense; certain legal and other matters related to professional services and legal fees, including legal defense costs, associated with certain legal proceedings; environmental matters related to previously disposed businesses; and cost-reduction activities and other expenses that the company believes are not indicative of its ongoing operations, as they may be unusual or non-recurring. The inclusion of such items in financial measures can make the company's profitability and liquidity results difficult to compare to prior periods or anticipated future periods and can distort the visibility of trends associated with the company's ongoing performance. Management also believes that non-GAAP measures are useful to investors because they provide supplemental information about the company's financial performance and liquidity, as well as greater transparency into management's view and assessment of the company's ongoing operating performance.

    Non-GAAP financial measures are often provided and utilized by the company's management, analysts, and investors to enhance comparability of year-over-year results and to isolate in some instances the impact of software license renewals, which tend to be lumpy, and related support services in order to evaluate the company's business outside of these areas. These items are uncertain, depend on various factors, and could have a material impact on the company's GAAP results for the applicable period. These measures should not be relied upon as substitutes for, or considered in isolation from, measures calculated in accordance with U.S. GAAP. A reconciliation of these non-GAAP financial measures to the most directly comparable financial measures calculated and reported in accordance with GAAP can be found below except for financial guidance and other forward-looking information since such a reconciliation is not practicable without unreasonable efforts as the company is unable to reasonably forecast certain amounts that are necessary for such reconciliation. This information has been provided pursuant to the requirements of SEC Regulation G.

    About Unisys

    Unisys is a global technology solutions company that powers breakthroughs for the world's leading organizations. Our solutions – cloud, AI, digital workplace, logistics and enterprise computing – help our clients challenge the status quo and unlock their full potential. To learn how we have been helping clients push what's possible for more than 150 years, visit unisys.com and follow us on LinkedIn.

    RELEASE NO.: 0218/9988

    Unisys and other Unisys products and services mentioned herein, as well as their respective logos, are trademarks or registered trademarks of Unisys Corporation. Any other brand or product referenced herein is acknowledged to be a trademark or registered trademark of its respective holder.

    UIS-Q

     

    UNISYS CORPORATION

    CONSOLIDATED STATEMENTS OF INCOME (LOSS)

    (Unaudited)

    (Millions, except per share data)







    Three Months Ended

    December 31,



    Year Ended

    December 31,





    2024



    2023



    2024



    2023

    Revenue

















    Services



    $        417.5



    $        429.8



    $    1,665.3



    $    1,665.9

    Technology



    127.9



    127.8



    343.1



    349.5





    545.4



    557.6



    2,008.4



    2,015.4

    Costs and expenses

















    Cost of revenue:

















    Services



    311.4



    318.8



    1,247.3



    1,282.4

    Technology



    59.0



    57.6



    175.2



    181.7





    370.4



    376.4



    1,422.5



    1,464.1

    Selling, general and administrative



    118.7



    129.0



    424.2



    450.3

    Research and development



    7.7



    8.2



    25.2



    24.1

    Goodwill impairment



    —



    —



    39.1



    —





    496.8



    513.6



    1,911.0



    1,938.5

    Operating income



    48.6



    44.0



    97.4



    76.9

    Interest expense



    8.2



    7.9



    31.9



    30.8

    Other income (expense), net



    18.9



    (176.7)



    (140.8)



    (393.9)

    Earnings (loss) before income taxes



    59.3



    (140.6)



    (75.3)



    (347.8)

    Provision for income taxes



    28.8



    23.6



    117.9



    79.3

    Consolidated net earnings (loss)



    30.5



    (164.2)



    (193.2)



    (427.1)

    Net income attributable to noncontrolling interests



    0.5



    1.1



    0.2



    3.6

    Net income (loss) attributable to Unisys Corporation



    $          30.0



    $      (165.3)



    $      (193.4)



    $      (430.7)

    Earnings (loss) per share attributable to Unisys Corporation

















    Basic



    $          0.43



    $        (2.42)



    $        (2.79)



    $        (6.31)

    Diluted



    $          0.41



    $        (2.42)



    $        (2.79)



    $        (6.31)

     

    UNISYS CORPORATION

    SEGMENT RESULTS

    (Unaudited)

    (Millions)







    Total



    DWS



    CA&I



    ECS



    Other

    Three Months Ended December 31, 2024





















    Revenue



    $        545.4



    $        128.2



    $        132.1



    $        208.9



    $              76.2

    Gross profit percent



    32.1 %



    15.9 %



    15.4 %



    64.7 %





    Three Months Ended December 31, 2023





















    Revenue



    $        557.6



    $        139.2



    $        138.9



    $        203.0



    $              76.5

    Gross profit percent



    32.5 %



    15.3 %



    16.3 %



    67.4 %













    Total



    DWS



    CA&I



    ECS



    Other

    Year Ended December 31, 2024





















    Revenue



    $    2,008.4



    $        523.5



    $        526.9



    $        651.3



    $           306.7

    Gross profit percent



    29.2 %



    15.7 %



    16.5 %



    60.2 %





    Year Ended December 31, 2023





















    Revenue



    $    2,015.4



    $        546.1



    $        531.0



    $        648.0



    $           290.3

    Gross profit percent



    27.4 %



    14.0 %



    15.4 %



    61.2 %





     

    UNISYS CORPORATION

    CONSOLIDATED BALANCE SHEETS

    (Unaudited)

    (Millions)





    December 31, 2024



    December 31, 2023

    Assets







    Current assets:







    Cash and cash equivalents

    $                  376.5



    $                  387.7

    Accounts receivable, net

    467.2



    454.5

    Contract assets

    16.0



    11.7

    Inventories

    16.4



    15.3

    Prepaid expenses and other current assets

    106.3



    101.8

    Total current assets

    982.4



    971.0

    Properties

    396.2



    396.4

    Less – Accumulated depreciation and amortization

    339.1



    332.1

    Properties, net

    57.1



    64.3

    Outsourcing assets, net

    24.0



    31.6

    Marketable software, net

    165.0



    166.2

    Operating lease right-of-use assets

    38.4



    35.4

    Prepaid pension and postretirement assets

    25.6



    38.0

    Deferred income taxes

    96.6



    114.0

    Goodwill

    247.9



    287.4

    Intangible assets, net

    35.5



    42.7

    Restricted cash

    14.1



    9.0

    Other long-term assets

    185.7



    205.8

    Total assets

    $               1,872.3



    $               1,965.4

    Total liabilities and deficit







    Current liabilities:







    Current maturities of long-term debt

    $                      5.0



    $                    13.0

    Accounts payable

    97.9



    130.9

    Deferred revenue

    210.4



    198.6

    Other accrued liabilities

    314.7



    308.4

    Total current liabilities

    628.0



    650.9

    Long-term debt

    488.2



    491.2

    Long-term pension and postretirement liabilities

    816.4



    787.7

    Long-term deferred revenue

    108.8



    104.4

    Long-term operating lease liabilities

    28.9



    25.6

    Other long-term liabilities

    71.3



    44.0

    Commitments and contingencies







    Total Unisys Corporation stockholders' deficit

    (283.4)



    (151.8)

    Noncontrolling interests

    14.1



    13.4

    Total deficit

    (269.3)



    (138.4)

    Total liabilities and deficit

    $               1,872.3



    $               1,965.4

     

    UNISYS CORPORATION

    CONSOLIDATED STATEMENTS OF CASH FLOWS

    (Unaudited)

    (Millions)







    Year Ended

    December 31,





    2024



    2023

    Cash flows from operating activities









    Consolidated net loss



    $       (193.2)



    $       (427.1)

    Adjustments to reconcile consolidated net loss to net cash provided by operating activities:









    Foreign currency losses



    14.5



    0.2

    Non-cash interest expense



    1.2



    1.2

    Employee stock compensation



    21.2



    17.2

    Depreciation and amortization of properties



    24.3



    29.1

    Depreciation and amortization of outsourcing assets



    22.6



    50.3

    Amortization of marketable software



    52.3



    49.7

    Amortization of intangible assets



    7.2



    9.7

    Other non-cash operating activities



    (1.2)



    (0.2)

    Goodwill impairment



    39.1



    —

    Loss on disposal of capital assets



    0.2



    6.0

    Pension and postretirement contributions



    (27.1)



    (48.0)

    Pension and postretirement expense



    182.2



    388.5

    Deferred income taxes, net



    35.6



    24.5

    Changes in operating assets and liabilities, excluding the effect of acquisitions:









    Receivables, net and contract assets



    (24.5)



    4.2

    Inventories



    (1.7)



    —

    Other assets



    (21.5)



    (25.5)

    Accounts payable and current liabilities



    (20.7)



    (20.9)

    Other liabilities



    24.6



    15.3

    Net cash provided by operating activities



    135.1



    74.2

    Cash flows from investing activities









    Proceeds from foreign exchange forward contracts



    3,077.1



    2,751.6

    Purchases of foreign exchange forward contracts



    (3,094.4)



    (2,740.4)

    Investment in marketable software



    (47.5)



    (46.0)

    Capital additions of properties



    (16.0)



    (21.3)

    Capital additions of outsourcing assets



    (16.3)



    (11.4)

    Purchases of businesses, net of cash acquired



    —



    (1.2)

    Other



    (0.3)



    (0.9)

    Net cash used for investing activities



    (97.4)



    (69.6)

    Cash flows from financing activities









    Payments of long-term debt



    (15.4)



    (16.9)

    Financing fees



    (0.5)



    —

    Other



    (2.2)



    (0.4)

    Net cash used for financing activities



    (18.1)



    (17.3)

    Effect of exchange rate changes on cash, cash equivalents and restricted cash



    (25.7)



    6.7

    Decrease in cash, cash equivalents and restricted cash



    (6.1)



    (6.0)

    Cash, cash equivalents and restricted cash, beginning of period



    396.7



    402.7

    Cash, cash equivalents and restricted cash, end of period



    $         390.6



    $         396.7

     

    UNISYS CORPORATION

    RECONCILIATIONS OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES

    (Unaudited)

    (Millions, except per share data)









    Three Months Ended



    Year Ended







    December 31,



    December 31,







    2024



    2023



    2024



    2023

    Net income (loss) attributable to Unisys Corporation



    $          30.0



    $      (165.3)



    $      (193.4)



    $      (430.7)

    Pension and postretirement expense

    pretax



    11.1



    174.4



    182.2



    388.5



    tax



    0.2



    (0.1)



    0.6



    (0.7)



    net of tax



    10.9



    174.5



    181.6



    389.2

    Goodwill impairment

    pretax



    —



    —



    39.1



    —



    tax



    —



    —



    —



    —



    net of tax



    —



    —



    39.1



    —

    Certain legal matters, net

    pretax



    (39.2)



    11.9



    (40.1)



    35.7



    tax



    —



    —



    (2.8)



    —



    net of tax



    (39.2)



    11.9



    (37.3)



    35.7

    Environmental matters

    pretax



    7.4



    7.0



    8.8



    24.7



    tax



    —



    —



    —



    —



    net of tax



    7.4



    7.0



    8.8



    24.7

    Cost reduction and other expenses, net

    pretax



    15.2



    7.6



    33.7



    23.8



    tax



    0.1



    0.3



    0.4



    1.0



    net of tax



    15.1



    7.3



    33.3



    22.8





















    Non-GAAP net income attributable to Unisys Corporation



    $          24.2



    $          35.4



    $          32.1



    $          41.7





















    Weighted average shares (thousands)



    69,458



    68,402



    69,199



    68,254

    Plus incremental shares from assumed vesting:

















    Employee stock plans



    3,480



    —



    —



    —

    Adjusted weighted average shares



    72,938



    68,402



    69,199



    68,254





















    Weighted average shares (thousands)



    69,458



    68,402



    69,199



    68,254

    Plus incremental shares from assumed vesting:

















    Employee stock plans



    3,480



    1,365



    2,340



    945

    Non-GAAP adjusted weighted average shares



    72,938



    69,767



    71,539



    69,199





















    Diluted earnings (loss) per share

















    GAAP basis

















    Net income (loss) attributable to Unisys Corporation



    $          30.0



    $      (165.3)



    $      (193.4)



    $      (430.7)

    Divided by adjusted weighted average shares



    72,938



    68,402



    69,199



    68,254

    Diluted earnings (loss) per share



    $          0.41



    $        (2.42)



    $        (2.79)



    $        (6.31)

    Non-GAAP basis

















    Non-GAAP net income attributable to Unisys Corporation for diluted

    earnings per share



    $          24.2



    $          35.4



    $          32.1



    $          41.7

    Divided by Non-GAAP adjusted weighted average shares

    72,938



    69,767



    71,539



    69,199

    Non-GAAP diluted earnings per share

    $          0.33



    $          0.51



    $          0.45



    $          0.60

     

    UNISYS CORPORATION

    RECONCILIATIONS OF GAAP TO NON-GAAP

     (Unaudited)

    (Millions)



    FREE CASH FLOW









    Three Months Ended



    Year Ended







    December 31,



    December 31,







    2024



    2023



    2024



    2023

    Cash provided by operations



    $          76.6



    $          23.0



    $        135.1



    $          74.2

    Additions to marketable software



    (10.8)



    (13.1)



    (47.5)



    (46.0)

    Additions to properties



    (5.0)



    (5.9)



    (16.0)



    (21.3)

    Additions to outsourcing assets



    (5.1)



    —



    (16.3)



    (11.4)

    Free cash flow



    55.7



    4.0



    55.3



    (4.5)

    Pension and postretirement funding



    6.1



    6.7



    27.1



    48.0

    Pre-pension and postretirement free cash flow



    61.8



    10.7



    82.4



    43.5

    Certain legal (receipts) payments



    (6.8)



    9.7



    (4.8)



    30.2

    Environmental matters payments



    8.7



    7.2



    17.2



    21.8

    Cost reduction and other payments, net



    3.3



    3.3



    9.8



    25.0

    Adjusted free cash flow



    $          67.0



    $          30.9



    $        104.6



    $        120.5

     

    UNISYS CORPORATION

    RECONCILIATIONS OF GAAP TO NON-GAAP

     (Unaudited)

    (Millions)



    EBITDA









    Three Months Ended



    Year Ended







    December 31,



    December 31,







    2024



    2023



    2024



    2023

    Net income (loss) attributable to Unisys Corporation



    $          30.0



    $      (165.3)



    $      (193.4)



    $      (430.7)

    Net income attributable to noncontrolling interests



    0.5



    1.1



    0.2



    3.6

    Interest expense, net of interest income of $5.8, $6.3, $23.2, $26.3

    respectively(1)



    2.4



    1.6



    8.7



    4.5

    Provision for income taxes



    28.8



    23.6



    117.9



    79.3

    Depreciation



    10.9



    21.0



    46.9



    79.4

    Amortization



    17.7



    14.4



    59.5



    59.4

    EBITDA



    $          90.3



    $      (103.6)



    $          39.8



    $      (204.5)



















    Pension and postretirement expense



    $          11.1



    $        174.4



    $        182.2



    $        388.5

    Goodwill impairment



    —



    —



    39.1



    —

    Certain legal matters, net(2)



    (39.2)



    11.9



    (40.1)



    35.7

    Environmental matters(1)



    7.4



    7.0



    8.8



    24.7

    Cost reduction and other expenses, net(3)



    9.7



    4.5



    22.1



    13.5

    Non-cash share based expense



    5.0



    4.1



    20.9



    16.6

    Other expense, net adjustment(4)



    7.1



    2.1



    19.3



    11.4

    Adjusted EBITDA



    $          91.4



    $        100.4



    $        292.1



    $        285.9



    (1) Included in other (expense), net on the consolidated statements of income (loss).









    (2) Included in selling, general and administrative expenses and other (expense), net within the consolidated statements of income (loss).  For the three months ended and the year ended December 31, 2024, certain legal matters , net include a gain of $40.0 million related to a favorable settlement of a litigation matter. Additionally, for the year ended December 31, 2024, certain legal matters, net include a net gain of $14.9 million related to a favorable judgement received in a Brazilian services tax matter.

    (3) Reduced for depreciation and amortization included above.









    (4) Other expense, net as reported on the consolidated statements of income (loss) less pension and postretirement expense, interest income and items included in certain legal and environmental matters, cost reduction and other expenses.



















    Three Months Ended



    Year Ended







    December 31,



    December 31,







    2024



    2023



    2024



    2023

    Revenue





    $   545.4



    $   557.6



    $  2,008.4



    $  2,015.4

    Net earnings (loss) attributable to Unisys Corporation as a percentage of

    revenue



    5.5 %



    (29.6) %



    (9.6) %



    (21.4) %

    Non-GAAP net income attributable to Unisys Corporation as a

    percentage of revenue



    4.4 %



    6.3 %



    1.6 %



    2.1 %

    Adjusted EBITDA as a percentage of revenue



    16.8 %



    18.0 %



    14.5 %



    14.2 %

     

    UNISYS CORPORATION

    RECONCILIATIONS OF GAAP TO NON-GAAP

     (Unaudited)

    (Millions)



    OPERATING PROFIT







    Three Months Ended



    Year Ended





    December 31,



    December 31,





    2024



    2023



    2024



    2023

    Operating profit



    $     48.6



    $     44.0



    $     97.4



    $     76.9

    Goodwill impairment



    —



    —



    39.1



    —

    Certain legal matters(1)



    0.8



    11.4



    9.0



    35.2

    Cost reduction and other expenses(2)



    13.6



    8.4



    29.5



    27.4

    Pension and postretirement expense(1)



    0.3



    0.2



    1.4



    1.3

    Non-GAAP operating profit



    $     63.3



    $     64.0



    $   176.4



    $   140.8



















    Revenue



    $   545.4



    $   557.6



    $  2,008.4



    $  2,015.4



















    Operating profit percent



    8.9 %



    7.9 %



    4.8 %



    3.8 %

    Non-GAAP operating profit percent



    11.6 %



    11.5 %



    8.8 %



    7.0 %



















    (1) Included in selling, general and administrative expenses within the consolidated statements of income (loss).

    (2) Included in cost of revenue, selling, general and administrative and research and development on the consolidated statements of income (loss).

     

    EXCLUDING LICENSE AND SUPPORT (EX-L&S) REVENUE AND GROSS PROFIT







    Three Months Ended



    Year Ended





    December 31,



    December 31,





    2024



    2023



    2024



    2023

    Revenue



    $    545.4



    $    557.6



    $ 2,008.4



    $ 2,015.4

    L&S revenue



    151.7



    144.3



    431.5



    429.1

    Ex-L&S Non-GAAP revenue



    $    393.7



    $    413.3



    $ 1,576.9



    $ 1,586.3



















    Gross profit



    $    175.0



    $    181.2



    $     585.9



    $    551.3

    L&S gross profit



    113.1



    112.8



    308.3



    311.3

    Ex-L&S Non-GAAP gross profit



    $      61.9



    $      68.4



    $     277.6



    $    240.0



















    Gross profit percent



    32.1 %



    32.5 %



    29.2 %



    27.4 %

    Ex-L&S Non-GAAP gross profit percent



    15.7 %



    16.5 %



    17.6 %



    15.1 %

     

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/unisys-announces-4q-and-full-year-2024-results-302379397.html

    SOURCE Unisys Corporation

    Get the next $UIS alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $UIS

    DatePrice TargetRatingAnalyst
    2/24/2023Buy → Hold
    Maxim Group
    11/9/2022Market Outperform → Market Perform
    CJS Securities
    11/9/2022$20.00 → $5.00Buy → Hold
    Canaccord Genuity
    9/15/2021$35.00Buy
    Maxim Group
    8/4/2021Hold → Buy
    Canaccord Genuity
    More analyst ratings

    $UIS
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Unisys Named a Leader in NelsonHall's 2025 NEAT Evaluation for Cognitive & Self-Healing IT Infrastructure Management

      For the fifth consecutive year, Unisys was recognized by global analyst firm for strengths in AI, server-centric services and cognitive service desk capabilities BLUE BELL, Pa., May 8, 2025 /PRNewswire/ -- Unisys (NYSE:UIS) has been named a leader in the 2025 Cognitive & Self-Healing IT Infrastructure Management report, by global analyst firm NelsonHall's Vendor Evaluation & Assessment Tool (NEAT). For the fifth consecutive year, Unisys was rated highly for its ability to deliver immediate benefits to its IT infrastructure management services clients. The report also highlights how Unisys plans to invest in AI capabilities, IP, talent, and reskilling that will expand its cognitive and self-h

      5/8/25 9:00:00 AM ET
      $UIS
      EDP Services
      Technology
    • Unisys Introduces Three New Cloud AI Solutions to Drive Business Outcomes

      Scalable, advanced cloud AI solutions transform operational efficiency, integration and decision-making  BLUE BELL, Pa., May 5, 2025 /PRNewswire/ -- Unisys (NYSE:UIS) has released three new cloud AI solutions under its Cloud, Applications & Infrastructure (CA&I) business unit. These solutions – Cloud AI Foundation, Cloud AI Enablement, and Cloud AI Customer Experience – are engineered to drive operational efficiency, streamline decision-making processes and enable organizations to maximize resources while integrating AI into core operations. The new solutions offer the followi

      5/5/25 9:00:00 AM ET
      $UIS
      EDP Services
      Technology
    • Unisys Announces 1Q25 Results

      Unisys Improves Operating and Free Cash Flow and Continues Momentum in New Logo Signings  Cash provided by operations of $33.3 million compared to $23.8 million in 1Q24, and free cash flow(9) of $13.2 million compared to $3.9 million in 1Q24Total company revenue of $432.1 million; Excluding License and Support (Ex-L&S)(13) revenue of $361.0 million Gross profit margin of 24.9%; Ex-L&S gross profit margin of 17.8%Operating profit margin of 1.2 %; non-GAAP operating profit(6) margin of 2.8 %Ex-L&S New Business(5) Total Contract Value (TCV)(3) of $337 million, an increase of 83% year over year (YoY) driven by new logo signingsUnisys reiterates 2025 full-year guidanceBLUE BELL, Pa., April 30, 20

      4/30/25 4:30:00 PM ET
      $UIS
      EDP Services
      Technology

    $UIS
    SEC Filings

    See more
    • SEC Form 10-Q filed by Unisys Corporation New

      10-Q - UNISYS CORP (0000746838) (Filer)

      5/1/25 4:36:04 PM ET
      $UIS
      EDP Services
      Technology
    • Unisys Corporation New filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - UNISYS CORP (0000746838) (Filer)

      4/30/25 4:37:49 PM ET
      $UIS
      EDP Services
      Technology
    • SEC Form DEFA14A filed by Unisys Corporation New

      DEFA14A - UNISYS CORP (0000746838) (Filer)

      3/24/25 5:19:25 PM ET
      $UIS
      EDP Services
      Technology

    $UIS
    Leadership Updates

    Live Leadership Updates

    See more
    • Unisys Appoints Michael M. Thomson as Chief Executive Officer

      Thomson to succeed Peter A. Altabef, effective April 1, 2025 Altabef, CEO since 2015, to remain as Chair of the Board BLUE BELL, Pa., Dec. 5, 2024 /PRNewswire/ -- The Unisys (NYSE:UIS) Board of Directors announced today that it unanimously elected Mike Thomson, current President and Chief Operating Officer at Unisys, to succeed Peter Altabef as the company's CEO, effective April 1, 2025. Also, effective April 1, Thomson will join the company's Board and will retain his current title as President. Altabef, currently Chair and CEO, will continue as Chair of the Board. "On behal

      12/5/24 4:30:00 PM ET
      $UIS
      EDP Services
      Technology
    • Cellebrite Appoints Tech Veteran Troy K. Richardson to Board of Directors

      TYSONS CORNER, Va. and PETAH TIKVA, Israel, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Cellebrite (NASDAQ:CLBT), a global leader in premier digital investigative solutions for the public and private sectors, announced today that Troy Richardson has joined its board of directors, effective August 13, 2024. Mr. Richardson is a seasoned technology executive with more than 30 years of experience in leading, scaling and transforming global organizations. He currently serves on the Unisys Corporation (NYSE:UIS) Board of Directors and previously served as a Director of the Board for Carestream Dental. Mr. Richardson was president of the Digital Thread group at PTC Inc. (NASDAQ:PTC) from 2021 until 2022

      8/14/24 7:00:00 AM ET
      $CLBT
      $PTC
      $UIS
      Computer Software: Prepackaged Software
      Technology
      EDP Services
    • Unisys Names Ruchi Kulhari as Senior Vice President and Chief Human Resources Officer

      Accomplished executive brings significant senior human resources experience and expertise to Unisys BLUE BELL, Pa., April 3, 2024 /PRNewswire/ -- Unisys (NYSE:UIS) announced the appointment of Ruchi Kulhari as the company's senior vice president and chief human resources officer, effective immediately. She will report to Unisys Chair and CEO Peter Altabef. "As an information technology solutions company in an ever-evolving, fast-paced industry, our CHRO is a critical role for us, as recruiting, retaining, developing, and transforming our workforce to meet the needs of our clie

      4/3/24 12:00:00 PM ET
      $UIS
      EDP Services
      Technology

    $UIS
    Financials

    Live finance-specific insights

    See more
    • Unisys Announces 1Q25 Results

      Unisys Improves Operating and Free Cash Flow and Continues Momentum in New Logo Signings  Cash provided by operations of $33.3 million compared to $23.8 million in 1Q24, and free cash flow(9) of $13.2 million compared to $3.9 million in 1Q24Total company revenue of $432.1 million; Excluding License and Support (Ex-L&S)(13) revenue of $361.0 million Gross profit margin of 24.9%; Ex-L&S gross profit margin of 17.8%Operating profit margin of 1.2 %; non-GAAP operating profit(6) margin of 2.8 %Ex-L&S New Business(5) Total Contract Value (TCV)(3) of $337 million, an increase of 83% year over year (YoY) driven by new logo signingsUnisys reiterates 2025 full-year guidanceBLUE BELL, Pa., April 30, 20

      4/30/25 4:30:00 PM ET
      $UIS
      EDP Services
      Technology
    • Unisys Announces Dates of First-Quarter 2025 Financial Results and Conference Call, and Participation in Upcoming Investor Conferences

      BLUE BELL, Pa., April 21, 2025 /PRNewswire/ -- Unisys (NYSE:UIS) announced it will release its first-quarter 2025 financial results on Wednesday, April 30, 2025, after the close of trading on the New York Stock Exchange. Unisys will host a conference call with the financial community on Thursday, May 1, 2025, at 8 a.m. EDT to discuss the results. The company will offer a live, listen-only conference call webcast on the Unisys Investor Website at www.unisys.com/investor-relations. In addition, domestic callers can dial 1-844-695-5518 and international callers can dial 1-412-902

      4/21/25 8:00:00 AM ET
      $UIS
      EDP Services
      Technology
    • Unisys Announces 4Q and Full-Year 2024 Results

      Company Exceeds Profitability Guidance and Meets Revenue Guidance, Significantly Improves Operating and Free Cash Flow Year over Year Full-year gross profit margin of 29.2%, up 180 bps year over year (YoY); Excluding License and Support (Ex-L&S)(13) gross profit margin of 17.6%, an improvement of 250 bps YoYFull-year operating profit margin of 4.8%, an improvement of 100 bps YoY; non-GAAP operating profit(6) margin of 8.8%, an improvement of 180 bps YoYFull-year revenue of $2,008.4 million, (0.3)% YoY as reported and in constant currency(1); in-line with the company's full-year guidanceFull-year operating cash flow of $135.1 million compared to $74.2 million in 2023, and free cash flow(9) of

      2/18/25 4:30:00 PM ET
      $UIS
      EDP Services
      Technology

    $UIS
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by Unisys Corporation New

      SC 13G/A - UNISYS CORP (0000746838) (Subject)

      10/2/24 2:06:35 PM ET
      $UIS
      EDP Services
      Technology
    • SEC Form SC 13G filed by Unisys Corporation New

      SC 13G - UNISYS CORP (0000746838) (Subject)

      5/30/24 9:29:48 AM ET
      $UIS
      EDP Services
      Technology
    • SEC Form SC 13G/A filed by Unisys Corporation New (Amendment)

      SC 13G/A - UNISYS CORP (0000746838) (Subject)

      2/13/24 5:15:59 PM ET
      $UIS
      EDP Services
      Technology

    $UIS
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SVP & CHRO Kulhari Ruchi covered exercise/tax liability with 7,119 shares, decreasing direct ownership by 8% to 85,442 units (SEC Form 4)

      4 - UNISYS CORP (0000746838) (Issuer)

      5/2/25 1:07:29 PM ET
      $UIS
      EDP Services
      Technology
    • New insider Raper Joel claimed ownership of 126,143 shares (SEC Form 3)

      3 - UNISYS CORP (0000746838) (Issuer)

      4/3/25 4:18:31 PM ET
      $UIS
      EDP Services
      Technology
    • New insider Arrasmith Christopher claimed ownership of 196,721 shares (SEC Form 3)

      3 - UNISYS CORP (0000746838) (Issuer)

      4/3/25 4:17:49 PM ET
      $UIS
      EDP Services
      Technology

    $UIS
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Unisys downgraded by Maxim Group

      Maxim Group downgraded Unisys from Buy to Hold

      2/24/23 9:25:57 AM ET
      $UIS
      EDP Services
      Technology
    • Unisys downgraded by CJS Securities

      CJS Securities downgraded Unisys from Market Outperform to Market Perform

      11/9/22 9:25:17 AM ET
      $UIS
      EDP Services
      Technology
    • Unisys downgraded by Canaccord Genuity with a new price target

      Canaccord Genuity downgraded Unisys from Buy to Hold and set a new price target of $5.00 from $20.00 previously

      11/9/22 6:26:33 AM ET
      $UIS
      EDP Services
      Technology