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WELLINGTON - DXC Technology (NYSE:DXC), a prominent IT services provider with annual revenue of $12.79 billion, has completed the implementation of a unified Oracle Fusion Cloud ERP and EPM system for Meridian Energy, New Zealand’s largest renewable energy generator and retailer, according to a press release statement.
The new system replaces Meridian’s outdated financial platform, providing operational efficiency improvements, faster financial reporting, and structured procurement compliance. The implementation was completed without operational disruption. According to InvestingPro data, DXC’s expertise in such implementations has contributed to its solid financial health, maintaining a healthy current ratio of 1.22.
The integrated solution enhances project visibility for 200 managers and standardizes supplier onboarding and procurement procedures. Executive and board-level financial reports are now generated within five days, significantly faster than before.
"We’re investing in technology to help us stay ahead of the growing demand for electricity, and help our customers reduce their emissions," said Mike Roan, Meridian Energy Chief Executive.
Meridian Energy, which generates one-third of New Zealand’s electricity through renewable sources including wind, water, and solar, sought to unite its finance teams, improve project planning, and modernize procurement processes. Trading at a P/E ratio of 7.02, DXC appears undervalued according to InvestingPro analysis, which identifies several additional growth opportunities in the IT services sector. Discover more insights and 6 additional ProTips with an InvestingPro subscription.
The implementation enforces a "no purchase order, no payment" policy as part of the procurement standardization.
Seelan Nayagam, President of Asia Pacific, Middle East & Africa at DXC Technology, stated that the company aims to support Meridian’s vision to help New Zealand achieve a net-zero carbon future.
DXC Technology is a Fortune 500 global technology services provider that specializes in managing and modernizing mission-critical systems for energy companies. With a market capitalization of $2.63 billion and consistent profitability over the last twelve months, DXC demonstrates strong fundamentals. Access the complete DXC Technology Pro Research Report, part of InvestingPro’s coverage of 1,400+ US equities, for comprehensive analysis and actionable insights.
In other recent news, DXC Technology reported its earnings for the first quarter of fiscal year 2026, surpassing analysts’ expectations. The company achieved an earnings per share of $0.68, outperforming the forecasted $0.61. Additionally, DXC’s revenue exceeded projections, reaching $3.16 billion compared to the anticipated $3.06 billion. In a strategic move, DXC Technology and Boomi announced a partnership to accelerate enterprise AI adoption, establishing a Boomi Center of Excellence within DXC. This center aims to innovate and provide consistent delivery quality across industries. Furthermore, DXC Technology expanded its presence in Latin America by opening a new office in Buenos Aires. This facility will support various service areas, including Business Process Services and Cloud. These developments highlight DXC Technology’s efforts to enhance its operational capabilities and market reach.
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