Concentrix Fiscal Q2 Earnings Fall, Revenue Rises; FY Outlook Cut; Shares Tumble After Hours

MT Newswires Live06-30 04:41

Concentrix (CNXC) reported fiscal Q2 non-GAAP net income late Monday of $2.63 per diluted share, down from $2.70 a year earlier.

Four analysts polled by FactSet expected $2.64.

Revenue in the three months ended May 31 rose to $2.46 billion from $2.42 billion a year earlier.

Four analysts expected $2.47 billion.

Concentrix expects fiscal Q3 non-GAAP EPS of $2.65 to $2.77 on revenue of $2.47 billion to $2.49 billion.

Four analysts project EPS of $3.09 on revenue of $2.53 billion.

The company lowered full-year EPS guidance to $10.83 to $11.18 on revenue of $9.93 billion to $10.03 billion. The previous forecast pegged EPS at $11.48 to $12.07 on revenue of $10.04 billion to $10.18 billion.

Four analysts expect EPS of $11.71 on revenue of $10.11 billion.

Concentrix shares fell 26% in after-hours trading.

The company maintained its quarterly dividend of $0.36 a share, payable Aug. 4, to stockholders of record July 24.

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