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Mar 31, 2024
TTEC Q1 2024 Earnings Report
TTEC's Q1 2024 financial results were announced, revealing a revenue decrease but progress in diversification strategy.
Key Takeaways
TTEC announced its Q1 2024 financial results, with revenue at $576.6 million, down 8.9%. Operating income was $22.7 million, and net income was $0.5 million. The company is navigating a fluid demand environment and making progress in its diversification strategy.
Revenue for Q1 2024 was $576.6 million, a decrease of 8.9 percent.
Operating income was $22.7 million, representing 3.9 percent of revenue.
Net income reached $0.5 million, which is 0.1 percent of revenue.
Fully diluted EPS was $0.01 ($0.27 Non-GAAP).
Revenue by Segment
Forward Guidance
The company believes the second quarter will be the low point in performance this year.
Positive Outlook
- Momentum in TTEC Digital business as clients modernize their CX ecosystems with cloud technology solutions.
- Operational execution in TTEC Engage business is a top priority.
- Focus on increased utilization of expanded global footprint.
- Deepen relationships with new and existing clients.
- Integrate AI-enabled solutions.
Challenges Ahead
- Second quarter will be the low point in performance this year.
- Transitioning through the peak of the headwinds in TTEC Engage business.
- Did not quantitatively reconcile its guidance for Non-GAAP operating income.
- Did not quantitatively reconcile its guidance for Non-GAAP operating income margins.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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