TTEC Holdings, Inc. ( (TTEC) ) has released its Q3 earnings. Here is a breakdown of the information TTEC Holdings, Inc. presented to its investors.
TTEC Holdings, Inc. is a global leader in customer experience technology and services, specializing in AI-enabled digital solutions that enhance customer interactions across various channels. The company operates through two main segments: TTEC Digital and TTEC Engage, offering a diverse range of CX solutions and services.
In the third quarter of 2024, TTEC reported a revenue of $529.4 million, marking a 12.2% decrease from the previous year. The company faced a net loss of $19 million, with significant challenges including macroeconomic headwinds and delayed decision-making by some clients. Despite these challenges, TTEC continues to focus on its diversification strategies and operational agility.
Key financial highlights include an operating income of $12.9 million, or 2.4% of revenue, and an adjusted EBITDA of $50.3 million, or 9.5% of revenue. Segment-wise, TTEC Digital saw a 13.2% revenue decline, while TTEC Engage’s revenue fell by 11.9%. The company also announced the sale of a non-operational real estate asset for $45.5 million, aiming to use the proceeds to reduce its revolving line of credit debt.
Looking ahead, TTEC remains committed to its strategic priorities, focusing on diversification of CX technology partnerships and profit optimization initiatives. The management reiterates a cautious outlook for the full year 2024, aiming for organic growth and improved profitability in the forthcoming year.
