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May 31, 2022
Concentrix Q2 2022 Earnings Report
Concentrix's revenue increased by 14.5% year-over-year, with operating income and net income also showing significant growth.
Key Takeaways
Concentrix reported strong second-quarter results with revenue reaching $1,568.1 million, a 14.5% increase from the prior year. Operating income grew by 22.4% to $156.9 million, and net income increased by 36.4% to $113.1 million. The company's outlook for the year includes increased foreign currency headwinds.
Revenue was $1,568.1 million, up 14.5% from the prior year second quarter.
Operating income was $156.9 million, or 10.0% of revenue.
Non-GAAP operating income was $212.8 million, or 13.6% of revenue.
Diluted earnings per common share (“EPS”) was $2.14 compared to $1.57 in the prior year second quarter.
Revenue by Segment
Forward Guidance
Concentrix expects third quarter revenue to be in the range of $1.575 billion to $1.605 billion, up approximately 13% to 15% as reported. Full year revenue is expected to be in the range of $6.365 billion to $6.415 billion, up approximately 14% to 15% as reported.
Positive Outlook
- Third quarter revenue is expected to be in the range of $1.575 billion to $1.605 billion, up approximately 13% to 15% as reported.
- Third quarter operating income is expected to be in the range of $161 million to $176 million.
- Third quarter non-GAAP operating income is expected to be in the range of $220 million to $235 million.
- Full year revenue is expected to be in the range of $6.365 billion to $6.415 billion, up approximately 14% to 15% as reported.
- Full year operating income is expected to be in the range of $663 million to $688 million.
Challenges Ahead
- The outlook for the balance of the year includes increased foreign currency headwinds.
- Changes in a small portion of client base looking to move more work offshore.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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