NYSE$EPAM
EPAM Systems Inc. · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported solid results in Q1 2023, driven by the dedication of its talented team.
EPAM Systems reported a revenue increase of 3.4% year-over-year, reaching $1.211 billion for the first quarter of 2023. The company's GAAP diluted EPS increased by 13.8% to $1.73, while non-GAAP diluted EPS decreased slightly by 0.8% to $2.47. The company updates full year outlook with revenue to be in the range of $4.950 billion to $5.000 billion and GAAP diluted EPS to be in the range of $8.11 to $8.31.
- Revenues increased to $1.211 billion, up 3.4% year-over-year.
- GAAP income from operations was 9.9% of revenues.
- Non-GAAP income from operations was 14.7% of revenues.
- GAAP diluted EPS was $1.73, an increase of 13.8% year-over-year.
Headline financials
Revenue & EPS history
EPAM · Revenue · Quarterly
$1.21B
Forward guidance
EPAM expects revenues to be in the range of $4.950 billion to $5.000 billion, GAAP Diluted EPS to be in the range of $8.11 to $8.31 and Non-GAAP Diluted EPS to be in the range of $10.60 to $10.80 for the full year. For the second quarter, EPAM expects revenues to be in the range of $1.195 billion to $1.205 billion, GAAP Diluted EPS to be in the range of $1.82 to $1.90 and Non-GAAP Diluted EPS to be in the range of $2.38 to $2.46.
Tailwinds
- Full year revenues are expected to be in the range of $4.950 billion to $5.000 billion.
- Full year GAAP diluted EPS is projected to be between $8.11 and $8.31.
- Full year Non-GAAP diluted EPS is expected to be in the range of $10.60 to $10.80.
- Second quarter revenues are projected to be between $1.195 billion and $1.205 billion.
- Second quarter GAAP diluted EPS is expected to be in the range of $1.82 to $1.90.
Headwinds
- Revenue growth for the second quarter is expected to be less than 1% year-over-year.
- Uneven improvement in demand is expected for the full year.
- Second quarter revenue growth on an organic constant currency basis excluding the impact of the exit from Russia will be less than 1% at the midpoint of the range.
- Full year revenue growth on an organic constant currency basis excluding the impact of the exit from Russia will be over 3% at the midpoint of the range.
- Second quarter GAAP income from operations to be in the range of 10.0% to 11.0% of revenues.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+1.0%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+1.5%
Avg return
30 days after
58%
33 / 57 earnings
Positive
+15.5%
Q2 2022
Best reaction
-26.4%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | -11.1% | -8.3% | |
| Q4 2025 | -17.9% | -23.2% | -18.0% | |
| Q3 2025 | +4.4% | +12.0% | +26.5% | |
| Q1 2025 | +12.9% | +17.4% | +11.9% | |
| Q4 2024 | -12.8% | -18.4% | -32.1% | |
| Q3 2024 | +15.2% | +21.2% | +21.1% | |
| Q2 2024 | -7.2% | -5.4% | -1.6% | |
| Q1 2024 | -26.4% | -24.9% | -29.0% | |
| Q4 2023 | +12.2% | +7.1% | +7.5% | |
| Q3 2023 | +11.1% | +12.9% | +19.5% | |
| Q2 2023 | +4.3% | +2.8% | +9.1% | |
| Q1 2023 | -14.3% | -14.1% | -4.0% | |
| Q4 2022 | -7.7% | -11.8% | -23.7% | |
| Q3 2022 | -4.4% | -2.2% | +13.1% | |
| Q2 2022 | +15.5% | +13.4% | +11.4% | |
| Q1 2022 | +11.0% | +2.2% | +6.3% | |
| Q4 2021 | -1.6% | -5.0% | -34.6% | |
| Q3 2021 | +3.7% | +5.5% | -12.2% | |
| Q2 2021 | +5.1% | +6.2% | +13.1% | |
| Q1 2021 | -0.2% | -1.6% | +4.6% | |
| Q4 2020 | -4.0% | -5.1% | -3.1% | |
| Q3 2020 | +4.1% | -4.9% | -1.2% | |
| Q2 2020 | +1.3% | +0.6% | +7.5% | |
| Q1 2020 | +0.1% | -0.8% | +6.8% | |
| Q4 2019 | -3.6% | -9.6% | -30.0% | |
| Q3 2019 | +6.1% | +11.9% | +17.7% | |
| Q2 2019 | +3.8% | +5.5% | +7.3% | |
| Q1 2019 | +0.4% | -1.2% | +3.7% | |
| Q4 2018 | +3.4% | +4.1% | +13.3% | |
| Q3 2018 | +5.7% | +4.6% | +9.0% | |
| Q2 2018 | -4.9% | -0.2% | +8.7% | |
| Q1 2018 | +9.6% | +7.4% | +6.8% | |
| Q4 2017 | +1.4% | +0.7% | +6.1% | |
| Q3 2017 | +10.0% | +11.2% | +9.3% | |
| Q2 2017 | -1.3% | -3.2% | -2.9% | |
| Q1 2017 | +3.5% | +3.7% | +10.0% | |
| Q4 2016 | +4.3% | +7.1% | +7.7% | |
| Q3 2016 | -1.6% | +1.6% | +1.2% | |
| Q2 2016 | -5.0% | -4.9% | +0.8% | |
| Q1 2016 | +0.5% | — | — | |
| Q4 2015 | +8.7% | — | — | |
| Q3 2015 | -8.9% | — | — | |
| Q2 2015 | -5.0% | — | — | |
| Q1 2015 | -0.8% | — | — | |
| Q4 2014 | +6.9% | — | — | |
| Q3 2014 | -2.4% | — | — | |
| Q2 2014 | +5.1% | — | — | |
| Q1 2014 | +6.3% | — | — | |
| Q4 2013 | -7.6% | — | — | |
| Q3 2013 | -1.5% | — | — | |
| Q2 2013 | +7.1% | — | — | |
| Q1 2013 | -0.1% | — | — | |
| Q4 2012 | +4.4% | — | — | |
| Q3 2012 | +8.1% | — | — | |
| Q2 2012 | +4.4% | — | — | |
| Q1 2012 | -11.8% | — | — | |
| Q4 2011 | +8.0% | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q4 2010 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro