Conduent Transportation Modernizes Ohio Turnpike’s Tolling Lanes to Improve Motorist ExperienceSpanning 241 miles, the turnpike now features open-road E-ZPass® tolling lanes and a gated exit system using Automated Toll Payment Machines
The modernization is the largest construction project in Ohio Turnpike history since the toll road was completed in 1955
As a key part of the implementation, Conduent installed and will maintain state-of-the-art, open-road tolling lanes for E-ZPass customers, and separate lanes with Automated Toll Payment Machines that accept coins, cash, and credit or debit cards. The machines will be equipped in the future to enable contactless payments using smartphones and digital wallets. The open-road tolling solution, meanwhile, incorporates LiDAR (Light Detection and Ranging)-based scanners with proven performance and accuracy. Automated License Plate Recognition technology will also be used to account for vehicles driving through E-ZPass lanes without a transponder. This Ohio project follows another recently announced implementation, in which Conduent launched an Express Lanes tolling system for the Virginia Department of Transportation (VDOT). That system enables flexible, dynamic pricing and license plate image reviews, helping to improve the flow of traffic and relieve congestion for VDOT. Their Transit Division is scaling now in 20 Countries, all generating revenue streams. They need to get their debt paid down,
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Conduent To Repurchases Around $132 Mln Of Shares From Carl Icahn
June 10, 2024 — 08:32 am EDT
(RTTNews) - Conduent Inc. (CNDT), a technology-led business solutions and services company, announced on Monday that it has executed a deal to repurchase its shares owned by Carl Icahn through certain of his affiliates at $3.47 per share, the closing price of the company's shares on June 7. The total repurchase price was around $132 million, funded from Conduent's cash on hand and existing credit facility.
Cliff Skelton, CEO of Conduent, said: "Following this transaction, we will continue to focus our capital allocation in the near-term on additional pay down of debt to further reduce our debt leverage ratios."
This represents about 19% of total shares outstanding(38 million shares).
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FCF still negative last quarter I noticed a large debt payment in Q1 2024 ($143 million) and now $138 million in Q2 2024 to buy back all of Icahn shares. We s/d see positive FCF soon and hopefully growing.
The SMA(200) weekly is at $4.58/share. Break above that on a good earnings report could see a run to $7/share (reversion to the mean). Will peel off some high cost shares at $4.58 and then in size between $5.50-$7.00 |
