CI&T Reported Prelim Q4 Revenue of $105.5M Vs $106.1M Est
Portfolio Pulse from Benzinga Newsdesk
CI&T reported its unaudited fourth quarter 2023 results, with net revenue of R$ 522.6 million, down from R$ 611.8 million in 4Q22. Adjusted EBITDA fell to R$ 103.6 million from R$ 127.4 million in 4Q22, with an EBITDA margin of 19.8%. The company's employee count stood at 6,111, remaining stable compared to the previous quarter.
March 07, 2024 | 11:52 am
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CI&T reported a decrease in net revenue and adjusted EBITDA for Q4 2023 compared to the same period last year, with a stable employee count.
The reported decrease in both net revenue and adjusted EBITDA indicates a potential short-term negative impact on CI&T's stock price. The stability in employee count suggests operational stability, but the financial metrics are likely to weigh more heavily on investor sentiment.
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