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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.
Concentrix
Concentrix
Concentrix Revenue by Segment
Revenue by Segment
Tech & Electronics Revenue
CapyFin.comRetail, Travel & eComm Revenue
CapyFin.comComms & Media Revenue
CapyFin.comBFSI Revenue
CapyFin.comHealthcare Revenue
CapyFin.comOther Industries Revenue
CapyFin.com 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