Alight Inc. (ALIT) Nosedives 18% as Earnings Disappoint

We recently published 10 Big Names Bleed Double Digits. Alight, Inc. (NYSE:ALIT) is one of the worst-performing stocks on Tuesday.

Alight Inc. declined by 18.32 percent on Tuesday to end at $4.19 apiece following a disappointing earnings performance in the second quarter of the year.

In its updated report, Alight, Inc. (NYSE:ALIT) said it swung to an attributable net loss of $1.07 billion in the second quarter of the year from a $23 million attributable net income in the same period last year. Revenues dipped by 1.8 percent to $528 million from $538 million year-on-year due to lower project revenue and net commercial activity.

For the first half, attributable net loss widened by 1,106 percent to $1.098 billion from $91 million in the same period last year, primarily driven by the $983 million non-cash goodwill impairment charge related to its Health Solutions reporting unit. Revenues dipped by 2 percent to $1.076 billion from $1.097 billion year-on-year.

For full-year 2025, the revenue target was lowered to a range of $2.282 billion to $2.329 billion from the $2.318 billion to $2.388 billion as guided previously.

Photo by Antenna on Unsplash

“We feel good about the operational levers within our control and are tracking to another strong year of client retention rates, though we refined our top-line forecast due to deals taking longer to close in the current environment which is temporarily delaying planned growth. Our pipeline remains strong, particularly for deals in the later stages, and we continue to see good progress with prospective clients,” said Alight, Inc. (NYSE:ALIT) CEO Dave Guilmette.