Concentrix (CNXC) Q1 Earnings Report Preview: What To Look For

StockStory
03-26
Concentrix (CNXC) Q1 Earnings Report Preview: What To Look For

Customer experience solutions provider Concentrix (NASDAQ:CNXC) will be reporting earnings tomorrow after the bell. Here’s what to look for.

Concentrix met analysts’ revenue expectations last quarter, reporting revenues of $2.45 billion, up 9.7% year on year. It was a slower quarter for the company, with a significant miss of analysts’ full-year EPS guidance estimates.

Is Concentrix a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Concentrix’s revenue to decline 1.7% year on year to $2.36 billion, a reversal from the 46.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.59 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Concentrix has missed Wall Street’s revenue estimates twice over the last two years.

With Concentrix being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for professional services stocks. However, the segment has faced declining investor sentiment as Concentrix’s peer group is down 5.6% on average over the last month. Concentrix is down 3% during the same time and is heading into earnings with an average analyst price target of $64.17 (compared to the current share price of $44.72).

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