Concentrix Corporation · Q4 2022 earnings

Briefing

Reported strong revenue growth, profit improvement, and cash flow generation, experiencing some softness due to the challenging macroeconomic environment.

Concentrix Corporation reported financial results for the fiscal fourth quarter and fiscal year ended November 30, 2022. Revenue was $1,640.7 million, up 11.9% from the prior year fourth quarter. Diluted earnings per common share was $2.01 compared to $2.35 in the prior year fourth quarter.

• Revenue was $1,640.7 million, up 11.9% from the prior year fourth quarter, including a 5.1 point negative impact of foreign exchange rates compared with the prior year period, compared with $1,466.6 million in the prior year fourth quarter, and up 5.8% on an adjusted constant currency basis.
• Operating income was $178.0 million, or 10.8% of revenue, compared with $157.9 million, or 10.8% of revenue in the prior year fourth quarter.
• Non-GAAP operating income was $248.0 million, or 15.1% of revenue, compared with $203.4 million, or 13.9% of revenue, in the prior year fourth quarter.
• Adjusted EBITDA was $284.8 million, or 17.4% of revenue, compared with $238.2 million, or 16.2% of revenue, in the prior year fourth quarter.

Headline financials

Revenue & EPS history

First quarter adjusted constant currency revenue growth is expected to be in the range of 2% to 4%. Full year adjusted constant currency revenue growth is expected to be in the range of 4% to 6%.