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Jun 30, 2024
TTEC Q2 2024 Earnings Report
TTEC's Q2 2024 results were impacted by non-cash goodwill impairment charges and related tax adjustments, with revenue down 11.0%.
Key Takeaways
TTEC reported a revenue of $534.1 million, a significant operating loss due to non-cash goodwill impairment charges, and is implementing cost optimization and diversification strategies to improve profitability.
Revenue was $534.1 million, down 11.0 percent.
Operating loss was $224.4 million, or negative 42.0 percent of revenue, due to $233.5 million non-cash goodwill impairments and related tax adjustments.
Net loss was $296.8 million, or negative 55.6 percent of revenue.
Adjusted EBITDA was $46.2 million, or 8.7 percent of revenue.
Revenue by Segment
Forward Guidance
The company anticipates continued pressure in the Engage business for the back half of the year, but expects moderate sequential top and bottom line improvement in Q3 and stronger results in Q4.
Positive Outlook
- Taking measurable actions in our Engage business to strengthen the foundation for increased profitability.
- Aligning Engage and corporate cost structure with forecasted revenue.
- Initiatives to improve operating efficiencies at the client program level.
- Clients across numerous industries are increasingly using our CX technology professional and managed services.
- Strong demand for cloud-based offerings.
Challenges Ahead
- Continued pressure in the back half of the year primarily in our Engage business.
- Operational execution remains a top priority.
- Softer third quarter performance than originally anticipated.
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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