Concentrix Corp Down 4.00% To $141.70 After Earnings Beat

Tuesday, June 28, 2022 - Concentrix Corp (CNXC) reported upside earnings and downside revenues.

Concentrix Corp's earnings came in at an EPS of $2.93 per share, 3.00% higher than estimates for an EPS of $2.84 per share. The firm's earnings are up 24% since reporting $2.37 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were downbeat at $1.6 billion. That is an increase of 14.45% in revenues from the year-ago report and is 0.76% lower than consensus estimates set at $1.6 billion.

The stock is down 4.00% to $141.70 after the report.

Concentrix Corp's earnings expanded faster than revenues, signaling widening profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 57. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Concentrix Corp is a technology-enabled company specialized in customer engagement and customer management. The company provides end-to-end solutions that facilitate communication between clients and their customers, provide analytics and process optimization, and support client-centric operations and back-office processing across the enterprise. The solutions are provided in four complementary areas: Customer Lifecycle Management; CX/UX Strategy and Design; Digital Transformation; and VOC and Analytics. Also, the company provides insurance solutions, marketing solutions, and automation solutions.