CNXC - Concentrix Non-GAAP EPS of $2.95 misses by $0.02 revenue of $1.58B misses by $10M

• Concentrix press release ( NASDAQ: CNXC ): Q3 Non-GAAP EPS of $2.95 misses by $0.02 .
• Revenue of $1.58B (+12.9% Y/Y) misses by $10M .
• The Company also announced that the Board of Directors has declared a 10 percent increase in its regular quarterly dividend to $0.275 per share.
• Adjusted EBITDA was $258.4 million, or 16.4% of revenue, compared with $214.8 million, or 15.4% of revenue, in the prior year third quarter.
• Q4 Outlook: Adjusted constant currency revenue growth is expected to approximate 7%. Based on current exchange rates, we expect an approximate 5-point negative impact of foreign exchange rates compared with the prior year. Additionally, we expect the contribution of approximately $175 million in fourth quarter revenue from businesses acquired since the beginning of the prior year fourth quarter.
• Operating income is expected to exceed $180 million and non-GAAP operating income is expected to exceed $254 million.
• The effective tax rate is expected to approximate 24% to 25%.
• 2022 Outlook: Adjusted constant currency revenue growth is expected to approximate 9%. Based on current exchange rates, we expect an approximate 4-point negative impact of foreign exchange rates compared with the prior year. Additionally, we expect full year revenue to include a net contribution of approximately $486 million from businesses acquired and divested since the beginning of fiscal year 2021.
• Operating income is expected to exceed $642 million and non-GAAP operating income is expected to exceed $890 million.
• The effective tax rate is expected to approximate 25%
• Shares -3.69% .

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