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 Corporation (NASDAQ: CNXC) is set to release its fiscal Q2 2022 financial results on June 27, 2022, after market close. A conference call to discuss these results will be held on June 28, 2022, at 9:00 am Eastern Time. Investors can access the live webcast through the Investor Relations section of the Concentrix website. The company is recognized as a top global provider of customer experience solutions, serving over 125 new economy clients and more than 100 Fortune Global 500 companies.
Concentrix Corporation (NASDAQ: CNXC) announced that President and CEO Chris Caldwell and CFO Andre Valentine will present at the Baird 2022 Global Consumer, Technology & Services Conference on June 6, 2022, at 12:15 p.m. ET. A live webcast will be available on the Concentrix website, and a replay will be accessible for 90 days post-event. Concentrix is a global leader in customer experience solutions, serving over 100 Fortune Global 500 clients across diverse sectors, including technology, retail, healthcare, and automotive.
Concentrix Corporation (Nasdaq: CNXC) has announced the acquisition of ServiceSource International, Inc. (NASDAQ: SREV) for $1.50 per share, totaling approximately $131 million. This move aims to enhance Concentrix’s B2B sales capabilities and expand its client portfolio, featuring key technology brands. Expected synergies include $230 million in revenue and $38 million in adjusted EBITDA in the first year post-acquisition. The transaction is set to close in the second half of 2022, pending shareholder and regulatory approvals.
ServiceSource International (NASDAQ: SREV) has announced a definitive merger agreement with Concentrix Corporation (NASDAQ: CNXC) in an all-cash deal valued at $1.50 per share, reflecting a 47% premium to its stock price on May 6, 2022. The transaction was unanimously approved by ServiceSource's Board and has garnered support from stockholders representing approximately 33.5% of voting power. The merger is expected to close in the second half of fiscal 2022, pending stockholder approval and regulatory conditions.
Concentrix Corporation (NASDAQ: CNXC) reported a strong fiscal first quarter for 2022, with revenue reaching $1,536.1 million, a 13.5% increase from $1,353.3 million in Q1 2021. Operating income rose to $147.7 million, translating to a margin of 9.6%, slightly down from 10.0% the previous year. Non-GAAP net income saw a 25.6% increase to $150.7 million. The board declared a quarterly dividend of $0.25 per share, payable on May 10, 2022. Despite solid performance, free cash flow for the quarter stood at $(0.4) million.
Concentrix Corporation (NASDAQ: CNXC) plans to announce its fiscal Q1 2022 financial results after the market closes on March 29, 2022. A conference call to discuss the results will take place on March 30, 2022, at 9:00 AM ET. The live call will be available via webcast on the company's Investor Relations webpage. Concentrix is a global leader in customer experience solutions, serving over 100 Fortune Global 500 clients and operating in more than 40 countries.
Concentrix Corporation (NASDAQ: CNXC) will host its virtual Investor Day on January 25, 2022, starting at 9:00 a.m. ET. The event will feature presentations from the leadership team and a Q&A session, concluding by 12:00 p.m. ET. Participants can access the webcast through the Investor Relations section of the Concentrix website. A replay and the presentation slides will later be available online. Concentrix is a global leader in customer experience solutions, serving numerous Fortune Global 500 clients and providing services across various industries.
Concentrix Corporation (NASDAQ: CNXC) reported robust financial results for Q4 and FY 2021, showcasing a 12.7% revenue increase to $1,466.6 million, while FY revenue rose 18.4% to $5,587.0 million. Operating income for Q4 reached $157.9 million, marking a 31.4% improvement. Net income surged 92.1% to $124.1 million. Diluted earnings per share (EPS) doubled to $2.35. The company also announced a quarterly dividend of $0.25 and plans to continue share repurchase programs. Management expressed confidence for growth in 2022, citing strong new business signings.
Concentrix Corporation (NASDAQ: CNXC) will announce its fourth quarter and full year fiscal 2021 financial results after market close on January 18, 2022. A conference call will follow on January 19, 2022, at 9:00 am ET to discuss the financial outcomes. This session will be webcast live, and a replay will be available after the call on their Investors Relations page. Concentrix is a global leader in customer experience solutions, serving over 100 Fortune Global 500 clients.
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