From GlobeNewswire.: 2025-01-15 16:05:00

Concentrix Corporation announces strong financial results for Q4 and fiscal year 2024, with revenue growth at the high end of guidance. Shareholders receive $220 million through share repurchases and dividends. Company introduces 2025 guidance for revenue growth, margin, and free cash flow expansion. Share repurchase authorization increased to $600 million. Quarterly dividend of $0.33275 per share declared. The guidance for the first quarter of 2025 includes constant currency revenue growth of 0% to 0.75%, with operating income projected at $137 million to $147 million. Non-GAAP EPS is expected to be $2.49 to $2.64, with an effective tax rate of 25.5% to 26.5%. Full year revenue is estimated to be $9.470 billion to $9.610 billion, with constant currency revenue growth of 0% to 1.5%. Operating income for the full year is expected to be $663 million to $703 million, with non-GAAP EPS of $11.18 to $11.77. Adjusted free cash flow for fiscal year 2025 is projected to be approximately $625 million to $650 million. A conference call to discuss financial results for the fourth quarter and full year fiscal 2024 will be held today at 5:00 p.m. (ET)/2:00 p.m. (PT). Non-GAAP financial information, including constant currency revenue growth and adjusted EBITDA, is also disclosed. Concentrix Corporation (NASDAQ: CNXC) is a global technology and services leader that powers brands worldwide. The company believes free cash flow and adjusted free cash flow are important measures, as they remove the effect of factoring and reflect ongoing operations. Non-GAAP diluted EPS excludes certain expenses for a clearer view of operating performance. These measures help assess past and future performance, aiding in planning and forecasting.

Forward-looking statements in the news release outline expectations for the company’s financial condition, growth, and profitability. Risks include economic conditions, cybersecurity threats, and the impact of new technologies. Other factors like competition, client demand, and regulatory changes could also affect the company’s operations. These uncertainties may impact actual results and performance. Concentrix Corporation reported total assets of $11,991,438 as of November 30, 2024, with current assets totaling $2,842,424 and current liabilities at $1,995,813. The company’s revenue for the fiscal year ended November 30, 2024, was $9,618,900, showing a 35% increase from the previous year. Operating income for the same period was $596,387.

In the same period, Concentrix Corporation reported a net income of $251,217 for the fiscal year ended November 30, 2024, with earnings per common share of $3.72. The company also provided a reconciliation of GAAP to non-GAAP measures, showing adjusted EBITDA of $1,554,925 for the same period.

Concentrix Corporation’s non-GAAP net income attributable to common stockholders was $743,129 for the fiscal year ended November 30, 2024. The company reported a diluted EPS of $3.71 for the same period. Their free cash flow for the same period was $428,730, with adjusted free cash flow at $474,518.

Looking ahead, Concentrix Corporation forecasts revenue between $2,355,000 and $2,370,000 for the three months ending February 28, 2025, with a projected revenue growth between $9,470,000 and $9,610,000 for the fiscal year ending November 30, 2025.



Read more at GlobeNewswire.:: Concentrix Reports Fourth Quarter and Fiscal Year 2024