DXC Technology Company (NYSE:DXC) Q4 2024 Earnings Conference Call May 16, 2024 5:00 PM ET

Company Participants

John Sweeney - VP, IR
Raul Fernandez - President and CEO
Rob Del Bene - EVP and CFO

Conference Call Participants

Bryan Keane - Deutsche Bank
Tien-Tsin Huang - JPMorgan
Bryan Bergin - TD Cowen
Paul Obrecht - Wolfe Research
Jonathan Lee - Guggenheim Securities
Spencer Anson - Susquehanna
James Faucette - Morgan Stanley
Bradley Clark - BMO Capital Markets

Operator

Hello, and welcome to the DXC Technology Q4 Earnings Call. [Operator Instructions]

I would now like to turn the conference over to John Sweeney, Vice President, Investor Relations. You may begin.

John Sweeney

Thank you, and good afternoon, everybody. I'm pleased that you're joining us for the DXC Technology's fourth quarter fiscal year 2024 earnings call. Our speakers on the call today will be Raul Fernandez, President and CEO; and Rob Del Bene, our EVP and CFO. The call is being webcast at DXC Investor Relations website, and the webcast includes slides that will accompany this 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 these risks and uncertainties is included in our Annual Report on Form 10-K and other SEC filings. I'd now like to remind our listeners that DXC Technology assumes no obligation to update the information presented on the call except as required by law.

And with that, I'd like to introduce DXC's President and CEO, Raul Fernandez. Raul?

Raul Fernandez

Thank you.

I will give a brief introduction, review our financial performance, update you on the progress we are making with our offerings. Then Rob will take us through the fourth quarter financial results and discuss our fiscal year 2015 guidance. I will also make some final remarks before opening the call up for questions.

In Q4 of fiscal year 2024, total revenue declined 5% on a constant currency basis, above our expectation. Adjusted EBIT margin of 8.4%, down 50 basis points year-over-year. Non-GAAP EPS of $0.97 was also above our guidance range. Free cash flow equaled $155 million for a total of $756 million for the full year. This is the third consecutive year that DXC has achieved free cash flow of more than $700 million.