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Concentrix (CNXC)
NASDAQ:CNXC
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Earnings Data
Report Date
Jan 15, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$3Last Year’s EPS
$3.36Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Sep 25, 2024
|% Change Since: -35.91%
|Next Earnings Date:Jan 15, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strategic wins and technological advancements, particularly in client consolidation and new product launches. However, it also outlined challenges in specific verticals and short-term financial impacts due to strategic shifts and increased costs.Company Guidance
In the Concentrix Q3 2024 earnings call, the company provided detailed guidance that included several key metrics and strategic insights. The revenue for the third quarter was reported at $2.4 billion, reflecting a 2.6% pro forma constant currency growth. The company anticipates fourth-quarter revenue to range between $2.42 billion and $2.47 billion, equating to a pro forma constant currency change from a decrease of 0.5% to growth of 1.5%. Non-GAAP operating income for Q4 is expected to be between $335 million and $355 million, with a non-GAAP EPS ranging from $2.90 to $3.16 per share. The company is also focusing on long-term investments in technology and transformation work, including a $100 million annual run rate investment in generative AI initiatives. Concentrix aims to achieve $120 million in synergy savings in 2025, a year ahead of schedule, due to accelerated integration efforts. The company remains committed to reducing net leverage to close to 2x adjusted EBITDA within two years, while continuing share repurchases and supporting its dividend. Overall, the guidance reflects a focus on transforming the business model to prioritize high-value, long-term opportunities.Strong Performance in Certain Verticals
Pro forma constant currency revenue growth in retail, travel, and e-commerce clients grew 8%, and banking, financial services, and insurance clients grew 5%. The automotive sector also saw growth, contributing to a 6% increase in the 'other' vertical.
Successful Client Consolidation
80% success rate in winning client consolidation opportunities, showcasing strong competitive positioning.
Launch of IX Hello
Introduction of a new intelligent experience technology suite aimed at leveraging generative AI to boost productivity and integrate across internal applications.
Record High Contract Revenue Bookings
Achieved the highest quarterly contract revenue bookings since the company’s combination a year ago.
Significant Long-Term Contract Win
Secured a transformational contract with a large financial organization valued at over USD 150 million, involving comprehensive servicing and technology integration.
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CNXC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CNXC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Sep 25, 2024 | $63.16 | $51.16 | -19.00% |
| Jun 26, 2024 | $57.34 | $62.03 | +8.18% |
| Mar 26, 2024 | $61.17 | $64.09 | +4.77% |
| Jan 24, 2024 | $101.78 | $85.48 | -16.01% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Concentrix (CNXC) report earnings?
Concentrix (CNXC) is schdueled to report earning on Jan 15, 2025, TBA Not Confirmed.
What is Concentrix (CNXC) earnings time?
Concentrix (CNXC) earnings time is at Jan 15, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CNXC EPS forecast?
CNXC EPS forecast for the fiscal quarter 2024 (Q4) is $3.
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