Most of the metrics are down and the forecast ahead is dim, earnings per share gone from $0.8+ to 0.60+.
Even the jewel GBS declined revenues, thats a first. Free cash flow forcecast down.
The stockmarket saw through the bull and the share price has crashed 15%.
Only thing that grew were 22 new execs recruited who have performed 0, and the CEO and CFO are getting bonus payments. Nothing changes here, time for a new CEO.
Did Raul use AI to give that speech? It was monotone and horrid. Good news is he got equity grants, the workforce is energized and I dont know make up some other things here.
"newly energized and engaged employee base" - right because continuing layoffs and zero or less that inflation payrises (after years without) really energizes the workforce.
"continuing to build a culture of accountability, collaboration, and urgency.” - mmm, the opposite from what I see, blame culture, no accountability, silos and apathy!
I guess as long as everyone does the needful and completes their timesheets maybe the Exec KPIs on employee engagement etc. look good?
Raul seems to be positive according to this statement on business wire (I’d like to know where this ‘newly energized…’ workforce is though?):
said DXC Technology President and CEO, Raul Fernandez. “For the second consecutive quarter, we reported bookings growth of more than 20% and book to bill ratios of greater than 1. While the macro backdrop remains uncertain, we're staying focused on our priorities, delivering our deep and broad capabilities to our customers, driving performance with a newly energized and engaged employee base, and continuing to build a culture of accountability, collaboration, and urgency.”
The only surprise is that anyone is surprised.
Have any employees seen any tangible changes that would result in growth? I've not and I suspect most/all of you haven't either.
@ae+1jv8h1mvb Not to be pedantic here your post seems off
The earnings call showed our CEO and CFO do not know the tech services business. The analysts asked typical questions for specifics on where and how DXC will grow and why sales are not converting to revenue (by the way this is the 1st quarter this year our sales book to bill are better vs the same quarter a year ago). They both answered with general answers that anyone would know and no specifics. The last analyst asked what areas were in demand by our clients and would be our focus..he even gave them another chance to answer and gave them the example if application modernization would be a focus. They have no clue what is going on in the businesses and our capabilities beyond managing through spreadsheets on typical metrics. Lucky for us GIS beat its revenue and margin this quarter or we would be $10-12 because CES has lost all the momentum GBS had last year. CES almost had as negative of revenue growth as GIS this quarter.
Stock in freefall $14 and falling, this guy has nearly halved it in 15 months, just brought in 22 poor mates, thats not going to turaround anything.
Like the last guy they are just raiding it dry.
32nd quarter in a row that revenue has declined, and its now forecast to speed up in the next year hence the stock price collapse after hours - a market cap below $3B now (and with $2.1B of debt). GIS continues its rapid circling of the drain shrinking to nothing and GBS continues its slow steady decline
But don't worry, there has been a special equity award announced for the execs - so again nothing has changed ...