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Concentrix Corporation (NASDAQ: CNXC) shares are trading lower after the company reported worse-than-expected third-quarter adjusted EPS results and cut its fiscal 2025 adjusted EPS guidance below estimates.
What Happened: Concentrix reported quarterly earnings of $2.78 per share, which missed the Street estimate of $2.86. Quarterly revenue was $2.48 billion, above the analyst consensus estimate of $2.45 billion.
The company cut its fiscal 2025 adjusted non-GAAP EPS guidance to a range of $11.11 to $11.23, below the $11.69 analyst estimate. Concentrix increased its revenue outlook to between $9.79 billion and $9.82 billion, compared to the $9.77 billion estimate.
For the fourth quarter, the company provided non-GAAP earnings per share guidance in the range of $2.85 to $2.96, which was below the estimated adjusted EPS figure of $3.32. Additionally, Concentrix forecast its fourth quarter revenue between $2.53 billion and $2.55 billion for the quarter.
Despite beating revenue expectations in quarter three and providing quarter four guidance above estimates, the earnings miss and reduced full-year profit outlook appear to weigh on investor sentiment.
CNXC Price Action: Concentrix shares dipped 9.83% at $49.59 on Friday at the time of publication, according to Benzinga Pro.
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Posted In: CNXC
