EPAM Systems Expects Q2 Revenue of $1.135B-$1.145B Vs $1.18B Est, Adj EPS of $2.21-$2.29 Vs $2.44 Est
Portfolio Pulse from Benzinga Newsdesk
EPAM Systems projects Q2 revenue of $1.135B-$1.145B, below the $1.18B estimate, and adjusted EPS of $2.21-$2.29, under the $2.44 estimate. The company anticipates a year-over-year revenue decline of 2.6% and a 3.0% decline excluding Russia's impact. EPAM expects GAAP income from operations to be 9.0%-10.0% of revenues, with a GAAP effective tax rate of about 25% and non-GAAP effective tax rate of 24%. GAAP diluted EPS is forecasted to be $1.52-$1.60, with non-GAAP diluted EPS at $2.21-$2.29.
May 09, 2024 | 10:09 am
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NEGATIVE IMPACT
EPAM Systems expects lower Q2 revenue and adjusted EPS than market estimates, indicating a potential short-term negative impact on its stock price.
EPAM's projection of lower-than-expected Q2 revenue and adjusted EPS suggests a potential underperformance compared to market expectations. This could lead to negative investor sentiment in the short term, impacting the stock price negatively as investors adjust their expectations based on the new guidance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100