Shares of Concentrix Corp (CNXC) are set to plummet 21.79% in pre-market trading on Friday, following the release of disappointing third-quarter earnings and reduced full-year guidance. The customer experience solutions provider's results fell short of analyst expectations on several key metrics, triggering a significant sell-off.

Concentrix reported adjusted earnings per share (EPS) of $2.78 for the third quarter, missing the analyst consensus estimate of $2.86. This represents a 3.14% decrease compared to the same period last year. While the company's revenue of $2.483 billion slightly beat expectations of $2.458 billion, growing 4% year-over-year, other financial metrics raised concerns among investors. The company's adjusted operating income of $305.1 million fell short of the estimated $322 million, and adjusted EBITDA came in at $359.2 million, below the expected $380 million.

Adding to investor concerns, Concentrix lowered its fiscal 2025 adjusted EPS guidance to between $11.11 and $11.23, down from its previous forecast of $11.53 to $11.76. Chief Executive Chris Caldwell attributed the weaker performance to ongoing challenges in the business environment, particularly related to tariff uncertainty and excess capacity. "With some of the additional noise with tariffs within the third quarter, by the second month, we still weren't seeing that uptick coming through from the clients," Caldwell explained during the earnings call. The company had previously expected a faster return to stability after some clients paused programs in the second quarter. However, clients took longer than anticipated to consolidate services, impacting Concentrix's financial performance.