DXC Technology Company (DXC) Q1 2024 Earnings Call Transcript

For the period ending June 30, 2023

August 2, 2023 5:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello and welcome to the DXC Technology's Q1 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

Now I'll turn the conference over to John Sweeney, VP of Investor Relations. Please go ahead.

John Sweeney

Thank you. Good afternoon, everybody. I'm pleased that you're joining us for the DXC Technology's first quarter fiscal year 2024 earnings call. Our speakers on the call today will be Mike Salvino, our Chairman, President and CEO; and Rob Del Bene, our EVP and CFO. This call is being webcast at DXC Investor Relations website, and the webcast includes the slides that will accompany the discussion today.

Today's presentation includes certain non-GAAP financial measures, which we believe provide useful information to our investors. In accordance with SEC rules, we provide a reconciliation of these measures to their respective and most directly comparable GAAP measures. These reconciliations can be found in the tables included in today's earnings release and in the webcast slides.

Certain comments we make on the call will be forward-looking. These statements are subject to known risks and uncertainties, which could cause actual results to differ materially from those expressed on the call. A discussion of the risks and uncertainties is included in our quarterly report on Form 10-Q and other SEC filings.

I'd now like to remind our listeners that DXC Technology assumes no obligations to update the information presented on the call, except as required by law.

And with that, I'd like to introduce DXC Technology's Chairman, President and CEO, Mike Salvino. Mike?

Mike Salvino

Thanks John, and I appreciate everyone joining the call today and I hope you and your families are doing well.

Today's agenda will begin with an update on our overall business performance. Next, I will update you on the performance of our GBS and GIS businesses. Rob will then discuss our financial results in detail, provide his perspective on DXC and his focus moving forward, and then discuss our updated guidance. And finally, I will provide some closing remarks before opening the call up for questions.

Before I get into the results of Q1, I want to give you some context. We are taking the right steps to shape DXC into a company that consistently delivers revenue growth and expanded margins, EPS, and free cash flow. We are doing this by focusing on our high-value growth business of GBS and fixing the historical challenges of our GIS business, along with changing the revenue mix so that GBS represents the majority of our revenue.