Concentrix Cuts FY Rev Guidance, Swings to Loss in 3Q
Dow Jones2026/09/29 20:35By Elias Schisgall
Concentrix reported lower third-quarter revenue and cut its full-year revenue guidance, as an impairment charge swung the company to a loss for the quarter.
The customer-experience solutions and technology company on Wednesday reported a loss of $988.1 million, or $16.24 a share, in the quarter ended Aug. 31. That compares with a profit of $88.1 million, or $1.34 a share, a year earlier.
The loss includes a $1.05 billion non-cash goodwill impairment charge, which Concentrix attributed primarily to "the trading range for the Company's stock price and market capitalization."
Stripping out that and other one-time items, adjusted earnings were $2.92 a share. Analysts were expecting $2.71 a share.
Revenue fell 1.2% to $2.45 billion, behind analyst expectations for $2.48 billion.
Shares in Concentrix fell 1.2% to $24.59 in after-hours trading on Tuesday. The stock closed at $24.88, down 2.2% intraday and 40% this year.
Chief Executive Officer Chris Caldwell said that 50% of its revenue during the quarter came from new business deployed within the last three years following the widespread release of artificial-intelligence tools.
"While we are aggressively disrupting our own traditional business, the underlying new business is stronger and healthier as evidenced by our margin expansion, strong free cash flow and growth of our new services," Caldwell said.
Concentrix lowered its full-year revenue outlook to a range of $9.83 billion to $9.88 billion. It previously guided for revenue between $9.93 billion and $10.03 billion, and analysts currently expect full-year revenue to reach $9.96 billion.
The company narrowed its guidance for full-year adjusted earnings to a range of $10.97 to $11.09 a share. Analysts currently expect $10.97 a share in adjusted earnings.
For the current fourth quarter, Concentrix projected adjusted earnings between $2.86 and $2.98 a share on revenue between $2.41 billion and $2.46 billion.
Analysts are expecting adjusted earnings of $3.05 a share on $2.52 billion in revenue.
The company also lifted its quarterly dividend to 37 cents a share, up from 36 cents.
The new payout, equal to $1.48 a year, represents a 5.9% annual yield based on Tuesday closing price of $24.88. The dividend is payable on Nov. 3 to shareholders of record as of Oct. 23.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
September 29, 2026 16:35 ET (20:35 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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