CSG Systems International, Inc. (CSGS) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

on our website, which will also be furnished to the SEC on Form 8K. With me today on the phone are Brian Shepherd, Chief Executive Officer, and Hai Tran, Chief Financial Officer. With that, I'd like to now turn the call over to Brian. Thanks, John. Hi, everyone. Welcome to today's call. On slide four, we wanted to begin with several exciting highlights that showcase how well Team CSG is executing across all areas of our business. First, the big news that has been on every investor's mind. We were super excited to announce on Monday that we signed a fantastic contract renewal with Comcast. This great win-win deal builds on our 35 year plus relationship with Comcast. And it gives both companies the opportunity to unlock much greater value in the future by continuing to do more business together. Comcast is undoubtedly one of the biggest and best connectivity and entertainment providers in the world. And we are honored and humbled to continue to serve this industry giant with mission critical technology solutions well into the next decade. We're also very pleased to raise both profitability and EPS guidance targets for the second consecutive quarter while reiterating all other full year 2024 guidance targets. We achieved very good profitability in Q3 reporting an 18.4% non-GAAP adjusted operating margin, and Team CSG believes it can continue to deliver enhanced profitability in Q4 and into 2025 and beyond. It was also great to see the strong profit performance convert into better free cash flow as we generated $37 million in free cash flow during the first nine months of 2024. a 25% increase year over year. And as Hai will share more detail on, our cash flow growth would have been even stronger if you normalize out the $18 million in one-time restructuring cost reductio...