Welcome to our dedicated page for Concentrix Corporation news (Ticker: CNXC), a resource for investors and traders seeking the latest updates and insights on Concentrix Corporation stock.
Concentrix Corporation (NASDAQ: CNXC) is a leading global provider of customer experience (CX) solutions and technology. The company specializes in end-to-end customer engagement services, technology innovations, analytics, process optimization, and business improvements. Concentrix partners with clients across various industries to transform the customer experience and streamline both front and back-office operations. With a presence in over 70 countries and a diverse workforce of more than 100,000 professionals speaking 40+ languages, Concentrix ensures high-value service delivery at scale.
Concentrix serves key industry verticals including technology & consumer electronics, retail, travel & e-commerce, banking, financial services & insurance, healthcare, communications & media, automotive, and energy & public sector. Its comprehensive service offerings include CX process optimization, front- and back-office automation, analytics, and digital IT services, which have garnered trust from marquee multinational brands.
The company recently completed its strategic combination with Webhelp, further strengthening its global footprint and service capabilities. This merger has already shown promise with increased client demand for the expanded offerings. Additionally, Concentrix has been at the forefront of deploying generative AI solutions and digital innovations to enhance client outcomes.
Financially, Concentrix demonstrated strong performance in its third quarter of fiscal 2023, with revenue growth and profitability meeting expectations. The company's free cash flow increased by 32% year over year. Moving forward, Concentrix is poised for continued growth, driven by vendor consolidation trends and an expanding portfolio of generative AI solutions.
Recent achievements include being ranked 499 on the Fortune 500® list and receiving various industry awards for advancements in AI and business automation. Concentrix remains committed to delivering exceptional value to its clients and shareholders through innovative solutions and steadfast execution.
Concentrix (NASDAQ: CNXC) reported Q4 and fiscal year 2024 results, with Q4 revenue reaching $2,448.0 million, up 9.7% year-over-year. The company achieved revenue growth at the high end of its previous guidance range, with a 1.5% year-on-year increase on a pro forma constant currency basis.
For fiscal year 2024, revenue grew 35.2% to $9,618.9 million. The company returned approximately $220 million to shareholders through dividends and share repurchases while reducing debt by about $209 million. Q4 operating income was $144.5 million with a margin of 5.9%, while non-GAAP operating income reached $346.7 million with a 14.2% margin.
The Board increased the share repurchase authorization to $600 million and declared a quarterly dividend of $0.33275 per share payable on February 11, 2025.
Concentrix (NASDAQ: CNXC) has announced it will release its fourth quarter and full year fiscal 2024 financial results after market close on Wednesday, January 15, 2025. The company will host a conference call and webcast with investors at 5:00 pm Eastern Time on the same day.
The live conference call webcast will be available in listen-only mode through the Investor Relations section of the Concentrix website. A replay of the webcast will be made available following the conference call.
Concentrix (NASDAQ: CNXC) announced its participation at Web Summit 2024 in Lisbon, Portugal from November 11-14. CEO Chris Caldwell will deliver a fireside chat titled 'Why Customers Deserve More' on November 14, discussing AI's role in enhancing brand-customer relationships. The company will showcase its iX Hello virtual assistant, featuring GenAI capabilities that can be implemented without coding. Concentrix will also host an 'Into the Future' event at their Lisbon office on November 13, demonstrating their latest technology stack and offering networking opportunities with company leaders.
Concentrix (NASDAQ: CNXC) has been positioned as a Leader in Everest Group's Europe, Middle East and Africa (EMEA) Customer Experience Management (CXM) Services PEAK Matrix® Assessment 2024. This marks the third consecutive year Concentrix has achieved leader status in three global CXM PEAK Matrix® Assessments (Americas, APAC, and EMEA). The company has expanded its services and innovative solutions in Europe, resulting in its highest placement yet on the EMEA matrix.
Out of 37 leading CXM providers assessed, Concentrix was one of only four to achieve Leader positioning. The assessment evaluates providers on their ability to deliver tailored digital customer experience solutions, emphasizing data privacy and security. Concentrix was recognized for its gen AI platforms, consulting services for IVA solutions, and balanced shoring mix across onshore, nearshore, and offshore locations.
Concentrix (NASDAQ: CNXC) has announced the release of iX Hello, a GenAI-powered self-service application designed to enhance productivity and engagement quality with high security. This product is the first in a suite of AI and GenAI technologies that Concentrix has developed and successfully deployed internally and with pre-launch clients.
iX Hello offers an out-of-the-box solution for businesses to create virtual assistants for various use cases, including data analysis, rapid language translations, and internal self-service chatbots. It integrates securely with leading Large Language Models (LLMs) and internal data sources, providing a cost-effective way to boost productivity within a compliant environment.
Key features of iX Hello include:
- Integration with multi-modal LLMs from major tech companies
- Enterprise-grade security and compliance
- Brand-specific customization
- Pre-built virtual assistants for common tasks
- Functionality for translating copy in 90+ languages
Concentrix plans to release additional technology products in the iX suite over the coming months.
Concentrix (NASDAQ: CNXC) reported financial results for Q3 2024 ended August 31, 2024. Key highlights include:
- Revenue of $2,387.4 million, up 46.2% year-over-year
- Non-GAAP operating income of $331.0 million, or 13.9% of revenue
- Adjusted EBITDA of $388.1 million, or 16.3% of revenue
- Non-GAAP diluted EPS of $2.87
The company also announced the launch of iX Hello, a Generative AI-powered solution. Concentrix returned $60 million to shareholders through share repurchases and dividends, and raised its quarterly dividend by 10% to $0.33275 per share.
Concentrix (NASDAQ: CNXC), a global technology and services leader, has announced its schedule for releasing its fiscal third quarter 2024 financial results. The company plans to disclose these results after the market closes on Wednesday, September 25, 2024. Following this, Concentrix will host a conference call and webcast for the investment community at 5:00 pm Eastern Time on the same day.
Investors can access the live conference call webcast in listen-only mode through the Investor Relations section of the Concentrix website under 'Events and Presentations'. For those unable to attend the live event, a replay will be made available on the company's website after the conference call.
Concentrix (NASDAQ: CNXC), a global technology and services leader, unveiled its 2024 Sustainability Report titled 'The Power Of One,' emphasizing its commitment to sustainability and community impact. The report outlines ambitious goals such as achieving a Net Zero carbon footprint by 2050 and supporting the UN's 2030 Sustainable Development Goals. Key focus areas include environmental stewardship, inclusive workplace culture, innovation, trust-building, and community support. Concentrix has exceeded many of its 2025 sustainability targets and reinvigorated its Think Human Foundation to back nonprofits focused on climate resilience and education.
Concentrix (NASDAQ: CNXC) announced its financial results for the fiscal second quarter ended May 31, 2024. The company reported revenue of $2.38 billion, a 47.4% increase year-on-year, and raised its full-year 2024 revenue guidance due to strong demand for its technology and service offerings.
Adjusted free cash flow for the quarter was over $200 million, and the company returned $60 million to shareholders through share repurchases and dividends. However, operating income decreased by 7.6% to $150.2 million, and net income fell 15.3% to $66.8 million. Diluted EPS declined from $1.51 to $0.98 year-on-year. Adjusted EBITDA was $379.6 million, a 46.7% increase from the previous year.
Concentrix reiterated its commitment to share repurchases, dividends, and debt reduction for 2024. The company also highlighted the successful integration of Webhelp and maintained its outlook for adjusted free cash flow for the year.
Concentrix (NASDAQ: CNXC) will release its fiscal second quarter 2024 financial results after market close on Wednesday, June 26, 2024.
A conference call and webcast to discuss these results will follow at 5:00 pm ET the same evening. The webcast will be accessible in listen-only mode in the Investor Relations section of the Concentrix website. A replay will also be available.
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