Loading...
•
Jun 30, 2022
EPAM Q2 2022 Earnings Report
Reported strong second-quarter results driven by EPAM's resiliency and agility, while navigating the impact of the war in Ukraine.
Key Takeaways
EPAM Systems, Inc. reported a revenue increase of 35.6% year-over-year, reaching $1.195 billion in the second quarter of 2022. The company's GAAP diluted EPS was $0.32, while the non-GAAP diluted EPS was $2.38. The company expects revenue to be at least $1.210 billion for the third quarter.
Second quarter revenues reached $1.195 billion, a 35.6% increase year-over-year.
GAAP Income from Operations was 7.8% of revenues, and Non-GAAP Income from Operations was 14.9% of revenues.
GAAP Diluted EPS was $0.32, a decrease of 83.5%, and Non-GAAP Diluted EPS was $2.38, an increase of 16.1% year-over-year.
EPAM anticipates third-quarter revenue to be at least $1.210 billion, with GAAP Diluted EPS of at least $1.65 and Non-GAAP Diluted EPS of at least $2.48.
EPAM
EPAM
Forward Guidance
EPAM expects revenue to be at least $1.210 billion for the third quarter, GAAP Diluted EPS to be at least $1.65 and Non-GAAP Diluted EPS to be at least $2.48.
Positive Outlook
- Revenues will be at least $1.210 billion on a GAAP basis for the third quarter reflecting a year-over-year growth rate of at least 22% which includes an unfavorable foreign currency translation impact of approximately 4%.
- Revenue growth on a constant currency basis will be at least 26%.
- For the third quarter, EPAM expects GAAP income from operations to be in the range of 9.5% to 10.5% of revenues.
- Non-GAAP income from operations to be in the range of 15% to 16% of revenues.
- EPAM expects GAAP diluted EPS will be at least $1.65 for the quarter, and non-GAAP diluted EPS will be at least $2.48 for the quarter.