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Concentrix
🇺🇸 NASDAQ:CNXC
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•
Nov 30, 2023

Concentrix Q4 2023 Earnings Report

Concentrix's Q4 2023 earnings were reported, demonstrating strong results across key metrics and surpassing expectations.

Key Takeaways

Concentrix reported a strong Q4 2023, with revenue up 36.0% to $2,230.8 million. Operating income was $180.4 million, and non-GAAP operating income reached $340.8 million. Diluted EPS was $1.09, while non-GAAP diluted EPS was $3.36. The company's strategic combination with Webhelp is progressing smoothly and contributing to revenue and profit.

Revenue increased by 36.0% to $2,230.8 million compared to the prior year fourth quarter.

Operating income was $180.4 million, representing 8.1% of revenue.

Non-GAAP operating income was $340.8 million, or 15.3% of revenue.

Non-GAAP diluted EPS reached $3.36, compared to $2.80 in the prior year fourth quarter.

Total Revenue
$2.23B
Previous year: $1.64B
+36.0%
EPS
$3.36
Previous year: $3.01
+11.6%
Revenue Growth
36%
Previous year: 11.9%
+202.5%
Gross Profit
$823M
Previous year: $593M
+38.7%
Cash and Equivalents
$295M
Previous year: $145M
+103.1%
Free Cash Flow
$164M
Previous year: $193M
-14.7%
Total Assets
$12.5B
Previous year: $6.67B
+87.3%

Concentrix

Concentrix

Concentrix Revenue by Segment

Forward Guidance

Concentrix anticipates first quarter revenue between $2.360 billion and $2.406 billion, with non-GAAP EPS expected to be in the range of $2.51 to $2.65. Full year revenue is projected to be between $9.510 billion and $9.700 billion, and non-GAAP EPS is expected to be between $11.69 and $12.50.

Positive Outlook

  • First quarter revenue is expected to be in the range of $2.360 billion to $2.406 billion.
  • First quarter non-GAAP operating income is expected to be in the range of $315 million to $325 million.
  • First quarter non-GAAP EPS is expected to be in the range of $2.51 to $2.65.
  • Full year revenue is expected to be in the range of $9.510 billion to $9.700 billion.
  • Full year non-GAAP operating income is expected to be in the range of $1,390 million to $1,450 million.

Challenges Ahead

  • First quarter expectations assume a 110 basis point negative impact of foreign exchange rates compared with the prior year period.
  • Full year expectations assume a 70-basis point negative impact of foreign exchange rates compared with the prior year.
  • Operating income for the first quarter is expected to be in the range of $158 million to $161 million.
  • The effective tax rate is expected to approximate 26% to 27%.
  • Operating income for the full year is expected to be in the range of $770 million to $800 million.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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