Concentrix - CNXC STOCK NEWS

Concentrix Corporation (NASDAQ: CNXC) reported its fiscal first-quarter results for 2023, with revenue reaching $1,636.4 million, a 6.5% increase from the previous year. Operating income was $156.0 million, marking a 5.6% rise. However, net income fell by 20.3% to $87.9 million, and diluted earnings per share decreased 19.6% to $1.68. The company declared a quarterly dividend of $0.275 per share, payable on May 9, 2023, and repurchased 0.1 million shares for $10.0 million. Despite the challenges, Concentrix maintains a positive outlook, citing robust demand and market share opportunities.

Concentrix Corporation (NASDAQ: CNXC) announced a $4.8 billion agreement to merge with Webhelp, enhancing its leadership in the $550 billion customer experience (CX) market. The combined company is expected to generate $9.8 billion in estimated revenue for 2023, adding approximately 1,000 clients including over 25 Fortune Global 500 companies. This merger will significantly expand Concentrix's footprint in Europe, Latin America, and Africa, while also improving its digital services. The transaction is projected to be accretive to revenue growth and non-GAAP earnings per share in its first year. A conference call will be held today for further discussion.

Concentrix Corporation (NASDAQ: CNXC) will announce its fiscal first quarter 2023 financial results on March 29, 2023, after market close. A conference call to discuss these financial results is scheduled for the same day at 5:00 PM Eastern Time, accessible via the Investor Relations section of their website. Concentrix is recognized globally for its customer experience (CX) solutions, serving over 130 Fortune Global 500 companies across various sectors in 40 countries.

Concentrix Corporation (NASDAQ: CNXC) reported fiscal Q4 and full-year results for 2022, marking significant revenue growth despite currency impacts.

Q4 revenue reached $1,640.7M, a 11.9% increase from $1,466.6M in Q4 2021, while full-year revenue was $6,324.5M, up 13.2% from $5,587.0M.

Operating income for Q4 was $178.0M (10.8% margin), and $640.2M (10.1% margin) for the year. Diluted EPS decreased to $2.01 from $2.35 in Q4 2021, but non-GAAP EPS rose to $3.01 from $2.99.

Management expressed confidence in future growth despite challenges in the consumer electronics and retail sectors.

Concentrix Corporation (NASDAQ: CNXC) will announce its fourth quarter and full year fiscal 2022 financial results after market close on January 19, 2023. A conference call and webcast for investors will be held the same evening at 5:00 pm ET. The live call can be accessed through the company's Investor Relations site, with a replay available afterward. Concentrix is a leading provider of customer experience solutions, servicing over 100 clients from Fortune Global 500 and excelling in various industry verticals.

Concentrix Corporation (NASDAQ: CNXC) has been awarded Quiq Partner of the Year for its significant contributions to digital transformation initiatives. The partnership achieved notable results, including a 35-50% resolution rate of messaging interactions through Conversational AI, a 20% reduction in cost per transaction, and a 10-15% improvement in Customer Satisfaction (CSAT) scores. Additionally, 4 million voice calls were transitioned to messaging in 2021. Concentrix's expertise, combined with Quiq's technology, enhances efficiencies and customer engagement across various industries.

Concentrix Corporation (NASDAQ: CNXC) reported a 13.1% increase in revenue to $1,579.6 million for Q3 2022, despite a 4.2-point negative impact from foreign exchange. Operating income rose to $157.5 million, but the operating margin fell to 10.0% from 10.8%. Non-GAAP diluted EPS increased by 18.5% to $2.95. The Board declared a 10% quarterly dividend increase to $0.275 per share, payable on November 8, 2022. Cash flow from operations was $152.6 million, with $126.4 million in free cash flow. The company continues to see growth opportunities and strong new business signings.