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Dec 31, 2020
EPAM Q4 2020 Earnings Report
Reported a revenue increase of 14.3% year-over-year, GAAP diluted EPS of $1.46, and Non-GAAP diluted EPS of $1.81.
Key Takeaways
EPAM Systems reported strong Q4 2020 results, with revenues reaching $723.5 million, a 14.3% increase year-over-year. GAAP diluted EPS was $1.46, and Non-GAAP diluted EPS was $1.81. The company's performance was driven by its diverse offerings and adaptability to the increasing digital changes across industries.
Revenues increased by 14.3% year-over-year to $723.5 million.
GAAP income from operations was 15.5% of revenues.
Non-GAAP income from operations was 18.8% of revenues.
GAAP diluted EPS reached $1.46, while Non-GAAP diluted EPS was $1.81.
Forward Guidance
EPAM Systems provided guidance for the full year 2021 and the first quarter of 2021.
Positive Outlook
- Revenue growth for 2021 is expected to be at least 23% on a GAAP basis.
- Foreign currency translation is expected to have a 1% favorable impact on full year reported revenues.
- GAAP income from operations is expected to be in the range of 13.5% to 14.5% of revenues for the full year.
- GAAP diluted EPS is projected to be in the range of $6.65 to $6.86 for the full year.
- Revenues for Q1 2021 will be in the range of $757 million to $765 million.
Challenges Ahead
- The Company expects its GAAP effective tax rate to be approximately 12% for the full year.
- The Company expects its non-GAAP effective tax rate to be approximately 23% for the full year.
- The Company expects weighted average diluted shares outstanding for the year of 59.2 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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