Kyndryl Holdings, Inc. (NYSE:KD) Q4 2023 Earnings Conference Call May 17, 2023 8:30 AM ET

Company Participants

Lori Chaitman - Global Head, IR

Martin Schroeter - Chairman and CEO

David Wyshner - CFO

Conference Call Participants

Tien-Tsin Huang - J.P. Morgan

Divya Goyal - Scotiabank

David Togut - Evercore ISI

James Friedman - Susquehanna

Operator

Good day and thank you for standing by. Welcome to the Kyndryl Fiscal Fourth Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. After the speaker’s presentation there will be a question-and-answer session. [Operator Instructions]. Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your host today, Lori Chaitman, Global Head of Investor Relations at Kyndryl. Please go ahead.

Lori Chaitman

Good morning, everyone and welcome to Kyndryl’s earnings call for the fourth quarter and fiscal year ended March 31, 2023. 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 to differ materially from those expressed or implied and these 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.

Kyndryl does not update forward-looking statements and disclaims any obligation to do so. In today's remarks, we will also refer to certain non-GAAP financial measures. Corresponding GAAP measures and a reconciliation of non-GAAP measures to GAAP measures for historical periods are provided in the presentation materials for today's event, which are available on our website at investors.kyndryl.com. With me here today are Kyndryl's Chairman and Chief Executive Officer, Martin Schroeter; and Kyndryl's Chief Financial Officer, David Wyshner. Following our prepared remarks, we will hold a Q&A session. I'd now like to now turn the call over to Martin. Martin?

Martin Schroeter

Thank you Lori and thanks to each of you for joining us today. I am enthusiastic about all that we at Kyndryl have accomplished in our first full fiscal year as an independent company and I could not be more proud of our teams around the world. We delivered solid fourth quarter results exceeding our recent guidance. We exceeded our year one targets for all three of our Alliances, advance delivery and accounts. We're solidifying our leadership position in mission critical IT services and we are signing new contracts that will drive margin expansion going forward. In short, we are taking full advantage of the new freedom associated with our independence and autonomy. We've proven we can deliver on ambitious plans to transform and strengthen our business. This gives us tremendous confidence as we look ahead to fiscal 2024 and beyond.