Kyndryl Holdings, Inc. (NYSE:KD) Q3 2023 Earnings Conference Call February 8, 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

Jamie Friedman - Susquehanna

Divya Goyal - Scotiabank

Operator

Good morning and welcome to the Kyndryl Fiscal Third Quarter 2023 Earnings Conference Call. Currently, all callers have been placed in a listen only mode. And following management's prepared remarks, the call will be open for your questions. [Operator Instructions]. Please be advised that today’s call is being recorded. I would now like to turn the call over to Lori Chaitman, Global Head of Investor Relations at Kyndryl. Thank you. You may begin.

Lori Chaitman

Good morning, everyone and welcome to Kyndryl’s earnings call for the quarter ended December 31, 2022, the third quarter of our fiscal year. Before we begin I'd like to remind you that our remarks today will include forward-looking statements. 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 for the year ended December 31, 2021.

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 investor.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. Kyndryl is continuing to drive progress both as the world’s leading provider of IT infrastructure services and as an independent public company. On today’s call, I will update you on our strategy and the meaningful progress we have made on our 3A's initiatives, alliances, advanced delivery and accounts. David will then provide you with a more detailed review of our financial results and discuss our full year 2023 outlook.

Our transformation is well underway and I'm proud of what our teams have accomplished. The essential non-discretionary nature of our business provides our revenue streams with some natural insulation to macro factors. As a result, demand for our services remain stable across the markets we serve. Equally important and independent of the broader economy, our continued execution on our 3A's is delivering the benefits we need to strengthen our overall business performance and drive us to profitable growth. Our continued progress combined with the nature of our business should ultimately allow us to regularly return capital to shareholders. I'll circle back on this topic in a few minutes.