NASDAQ$CNXC
Concentrix Corporation · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Concentrix's Q4 2023 earnings were reported, demonstrating strong results across key metrics and surpassing expectations.
Concentrix reported a strong Q4 2023, with revenue up 36.0% to $2,230.8 million. Operating income was $180.4 million, and non-GAAP operating income reached $340.8 million. Diluted EPS was $1.09, while non-GAAP diluted EPS was $3.36. The company's strategic combination with Webhelp is progressing smoothly and contributing to revenue and profit.
- Revenue increased by 36.0% to $2,230.8 million compared to the prior year fourth quarter.
- Operating income was $180.4 million, representing 8.1% of revenue.
- Non-GAAP operating income was $340.8 million, or 15.3% of revenue.
- Non-GAAP diluted EPS reached $3.36, compared to $2.80 in the prior year fourth quarter.
Headline financials
Revenue & EPS history
Concentrix · Revenue · Quarterly
$2.23B
Revenue by segment
Concentrix · $1.63B total across 6 segments · Q3 2023
- Tech & Electronics$528M+5.5%32.4%
- Retail & E-comm$322M+7.6%19.7%
- Comms & Media$252M-8.0%15.5%
- BFSI$247M+5.1%15.1%
- Healthcare$167M+17.0%10.3%
- Other$115M-9.1%7.1%
Forward guidance
Concentrix anticipates first quarter revenue between $2.360 billion and $2.406 billion, with non-GAAP EPS expected to be in the range of $2.51 to $2.65. Full year revenue is projected to be between $9.510 billion and $9.700 billion, and non-GAAP EPS is expected to be between $11.69 and $12.50.
Tailwinds
- First quarter revenue is expected to be in the range of $2.360 billion to $2.406 billion.
- First quarter non-GAAP operating income is expected to be in the range of $315 million to $325 million.
- First quarter non-GAAP EPS is expected to be in the range of $2.51 to $2.65.
- Full year revenue is expected to be in the range of $9.510 billion to $9.700 billion.
- Full year non-GAAP operating income is expected to be in the range of $1,390 million to $1,450 million.
Headwinds
- First quarter expectations assume a 110 basis point negative impact of foreign exchange rates compared with the prior year period.
- Full year expectations assume a 70-basis point negative impact of foreign exchange rates compared with the prior year.
- Operating income for the first quarter is expected to be in the range of $158 million to $161 million.
- The effective tax rate is expected to approximate 26% to 27%.
- Operating income for the full year is expected to be in the range of $770 million to $800 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q4 2023
+0.2%
Avg return
Earnings day
+1.8%
Avg return
5 days after
-2.3%
Avg return
30 days after
50%
13 / 26 earnings
Positive
+42.4%
Q1 2025
Best reaction
-19.8%
Q1 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | -19.8% | +4.5% | — | |
| Q4 2025 | -3.2% | +6.6% | -25.3% | |
| Q3 2025 | -13.4% | -12.3% | -14.7% | |
| Q2 2025 | -1.8% | +3.3% | -13.5% | |
| Q1 2025 | +42.4% | +18.3% | +9.9% | |
| Q4 2024 | +4.9% | +5.3% | +3.5% | |
| Q3 2024 | -19.3% | -19.7% | -30.3% | |
| Q2 2024 | +6.7% | +8.4% | +14.6% | |
| Q1 2024 | +4.1% | +5.8% | -11.4% | |
| Q4 2023 | -16.4% | -11.7% | -20.6% | |
| Q3 2023 | +10.9% | +12.7% | +1.9% | |
| Q2 2023 | -3.5% | -0.7% | -0.3% | |
| Q1 2023 | +0.3% | +0.3% | -19.3% | |
| Q4 2022 | -1.6% | -3.6% | -1.1% | |
| Q3 2022 | -3.3% | +3.5% | +7.7% | |
| Q2 2022 | -3.9% | -5.6% | -9.2% | |
| Q1 2022 | -10.5% | -15.8% | -17.0% | |
| Q4 2019 | +12.0% | +13.0% | +10.6% | |
| Q4 2021 | +1.5% | +1.9% | +20.0% | |
| Q3 2020 | -0.9% | +0.1% | -3.2% | |
| Q3 2021 | +2.5% | +8.4% | +4.8% | |
| Q2 2020 | +1.1% | +0.3% | +2.6% | |
| Q2 2021 | -2.0% | +2.4% | +4.0% | |
| Q1 2020 | +1.5% | +0.9% | +3.2% | |
| Q1 2021 | +8.9% | +11.5% | +24.6% | |
| Q4 2020 | +7.9% | +9.4% | +1.0% | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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