Concentrix Sees FY24 Adj. EPS $11.69-$12.50 Vs $12.98 Est.; Revenue $9.510B-$9.70B Vs $9.8B Est.
Portfolio Pulse from Benzinga Newsdesk
Concentrix Corporation provided its FY24 adjusted earnings per share (EPS) and revenue guidance below analysts' estimates. The company expects adjusted EPS to be between $11.69 and $12.50, compared to the estimated $12.98. Revenue projections are set at $9.510 billion to $9.70 billion, which is also lower than the expected $9.8 billion.

January 24, 2024 | 9:10 pm
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Concentrix Corporation's FY24 guidance for both adjusted EPS and revenue falls below analysts' expectations, which may lead to negative investor sentiment and a potential decrease in stock price in the short term.
When a company's financial guidance is below analysts' estimates, it often results in negative market reactions as it may indicate slower growth or potential challenges ahead. This can lead to a decrease in investor confidence and a subsequent drop in the stock price. Given that Concentrix's guidance for both EPS and revenue is below expectations, it is likely to have a negative impact on the stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100