Concentrix Shares Plunge Over 15% After Q2 Revenue, EPS Miss
CNXC•Concentrix reported Q2 revenue of $2.46 billion (up 1.9%) and EPS of $2.63, narrowly missing estimates of $2.47 billion and $2.63. It forecast Q3 EPS of $2.65–2.77 versus $2.98 consensus and Q3 revenue of $2.47–2.49 billion versus $2.52 billion, driving shares to a 52-week low.
1. Q2 Financial Results
Concentrix reported second-quarter revenue of $2.46 billion, a 1.9% increase year-over-year, and earnings of $2.63 per share. Both figures fell slightly short of consensus estimates of $2.47 billion in revenue and $2.63 in earnings per share.
2. Q3 Guidance Cut
Management issued guidance for third-quarter earnings of $2.65 to $2.77 per share versus a consensus of $2.98, and revenue of $2.47 to $2.49 billion against expectations of $2.52 billion, reflecting weaker demand trends and pricing pressure.
3. Market Reaction
Shares tumbled over 15% to an intraday low of $19.12, marking a 52-week low and extending this year’s decline to about 48%. Retail sentiment on social platforms remains unusually bullish despite the sharp selloff.
