Concentrix Corporation · Q1 2021 earnings

Briefing

Concentrix reported strong first quarter results above guidance and expects full-year double-digit revenue growth.

Concentrix Corporation reported a revenue of $1,353.3 million, up 13.9% from the prior year. Operating income was $134.9 million, or 10.0% of revenue, compared with $88.2 million, or 7.4% of revenue, in the prior year. The company expects to achieve constant-currency revenue growth of above 10 percent for fiscal 2021 with margins above pre-COVID levels.

• Revenue was $1,353.3 million, up 13.9% from the prior year first quarter and 11.7% on a constant currency basis.
• Operating income was $134.9 million, or 10.0% of revenue, compared with $88.2 million, or 7.4% of revenue, in the prior year first quarter.
• Non-GAAP operating income was $176.6 million, or 13.1% of revenue, compared with $144.8 million, or 12.2% of revenue, in the prior year first quarter.
• Adjusted EBITDA was $212.6 million, or 15.7% of revenue, compared with $176.5 million, or 14.8% of revenue, in the prior year first quarter.

Headline financials

Revenue & EPS history

Second-quarter revenue is expected to be in the range of $1.33 billion to $1.38 billion as reported. Second-quarter operating income is expected to be in the range of $114 million to $128 million and non-GAAP operating income is expected to be in the range of $160 million to $174 million. The effective tax rate is expected to approximate 27% to 28%.