CNXC +3.08 to 65.31, it opened down at 59.96 but quickly bounced .... I think it was a decent quarter and guidance given how beaten down the stock is ....
briefing -
Concentrix misses by $0.01, beats on revs; guides Q2 EPS below consensus, revs below consensus; reaffirms FY24 EPS guidance, revs guidance; committed to $100 mln in repurchases (62.23 -0.38) :
Reports Q1 (Feb) earnings of $2.57 per share, excluding non-recurring items, $0.01 worse than the FactSet Consensus of $2.58; revenues rose 46.8% year/year to $2.4 bln vs the $2.38 bln FactSet Consensus.
Co issues downside guidance for Q2 (May), sees EPS of $2.55-2.70, excluding non-recurring items, vs. $2.83 FactSet Consensus; sees Q2 revs of $2.325-2.372 bln vs. $2.38 bln FactSet Consensus.
Co reaffirms guidance for FY24 (Nov), sees EPS of $11.69-12.50, excluding non-recurring items, vs. $11.96 FactSet Consensus; sees FY24 revs of $9.51-9.70 bln vs. $9.63 bln FactSet Consensus.
Co added, "We are seeing a strong pipeline for our AI and technology-led solutions. This allowed us to achieve the high end of our revenue guidance and our profit target for the quarter. Reflecting our confidence in our outlook for 2024, we are committed to repurchasing $100 million of our shares over the final three quarters of 2024 while maintaining our dividend and our debt reduction commitments."
