Company: UIS
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000746838-25-000020
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Company: UNISYS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This management’s discussion and analysis of financial condition and results of operations should be read in conjunction with the consolidated financial statements and the related notes included elsewhere in this quarterly report.

Overview 

For the three months ended June 30, 2025, the company reported net loss attributable to Unisys Corporation of $20.1 million, or $0.28 per diluted share, compared with a loss of $12.0 million, or $0.17 per diluted share, for the three months ended June 30, 2024. The net loss for the three months ended June 30, 2025 included a loss on debt extinguishment of $6.8 million.

For the six months ended June 30, 2025, the company reported net loss attributable to Unisys Corporation of $49.6 million, or $0.70 per diluted share, compared with a loss of $161.5 million, or $2.34 per diluted share, for the six months ended June 30, 2024. The net loss for the six months ended June 30, 2024 included $132.3 million of a U.S. pension plan settlement loss.

On June 27, 2025, the company completed a private offering of $700.0 million aggregate principal amount of its 10.625% Senior Secured Notes due 2031 (the 2031 Notes). The net proceeds from the issuance of the 2031 Notes, together with cash on hand, were used to repurchase for cash any and all of its outstanding 6.875% Senior Secured Notes due November 1, 2027 (the 2027 Notes) tendered in a concurrent tender offer, to satisfy and discharge the remaining 2027 Notes not tendered in the concurrent tender offer (which will be redeemed on or about November 1, 2025), and for the payment of related premiums, fees and expenses. Additionally, the company used the net proceeds from the issuance of the 2031 Notes, together with cash on hand, to fund a portion of the company’s U.S. defined benefit pension plans deficit and postretirement liabilities totaling $250 million.

Concurrently with the issuance of 2031 Notes, the company amended its existing amended and restated secured revolving credit facility (the Amended and Restated ABL Credit Facility) to extend the maturity from October 2027 to