CSG Systems Reports Strong Q3 2024 Performance
Company Announcements

CSG Systems Reports Strong Q3 2024 Performance

CSG Systems ( (CSGS) ) has released its Q3 earnings. Here is a breakdown of the information CSG Systems presented to its investors.

CSG Systems International, Inc. is a technology company specializing in customer experience, billing, and payment solutions, primarily within the telecommunications industry. The company offers a range of SaaS solutions aimed at enhancing business and consumer interactions.

In its third quarter of 2024, CSG Systems reported a total revenue of $295.1 million, marking a 2.9% increase compared to the same period last year. The company also announced a significant contract renewal with Comcast extending through 2030, alongside an upward revision of its profitability and non-GAAP EPS guidance for the year.

Key financial highlights include a GAAP operating income of $31.8 million and a non-GAAP operating income of $50.1 million, reflecting an 18.4% adjusted operating margin. The GAAP earnings per diluted share stood at $0.67, while non-GAAP EPS was $1.06, showcasing a notable improvement from the previous year. Additionally, CSG declared a quarterly cash dividend of $0.30 per share and repurchased approximately 313,000 shares under its stock repurchase program.

Looking ahead, CSG Systems remains focused on returning over $100 million to shareholders through dividends and buybacks in 2024 and 2025. The company’s management maintains a positive outlook, as evidenced by the raised guidance targets, emphasizing their commitment to shareholder value and strategic growth initiatives.

Related Articles
TheFlyCSG Systems raises FY24 EPS $4.25-$4.55 from $4.05-$4.35, consensus $4.23
TheFlyCSG Systems reports Q3 EPS $1.06, consensus $1.06
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App