The company also lowered its annual revenue guidance to a range of $9.93 billion to $10.03 billion, retreating from earlier forecasts that peaked at $10.18 billion. This downward revision comes as the firm navigates a challenging quarter, with third-quarter projections for both earnings and revenue trailing the consensus estimates compiled by FactSet.
In section Market Quotes
Concentrix Shares Plummet After Profit Outlook Downgrade
A 23% plunge in after-hours trading greeted investors Monday as Concentrix slashed its full-year financial targets. The customer-experience firm now anticipates adjusted earnings between $10.83 and $11.18 per share, missing the previously projected range and falling significantly short of Wall Street’s expectations for the fiscal year.
Despite a year-over-year increase in second-quarter profit to $55.3 million, or 86 cents a share, the firm struggled to meet market benchmarks. Adjusted earnings for the period reached $2.63 per share, narrowly missing the anticipated $2.64, while revenue of $2.46 billion landed just under the projected $2.47 billion. Following a 39% decline in share price throughout the year, this latest outlook adjustment underscores the mounting pressure on the company to align its operational performance with analyst expectations.
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