{"id":12370,"date":"2025-01-23T09:00:29","date_gmt":"2025-01-23T09:00:29","guid":{"rendered":"https:\/\/outsourcing-today.ro\/?p=12370"},"modified":"2025-01-23T09:00:29","modified_gmt":"2025-01-23T09:00:29","slug":"concentrix-reports-fourth-quarter-and-fiscal-year-2024-results","status":"publish","type":"post","link":"https:\/\/outsourcing-today.ro\/?p=12370","title":{"rendered":"Concentrix reports fourth quarter and fiscal Year 2024 results"},"content":{"rendered":"\n<ul><li><strong>Delivers revenue growth at the high end of previous guidance range for the quarter<\/strong><\/li><li><strong>Returns $220 million to shareholders in fiscal 2024 through share repurchases and dividends<\/strong><\/li><li><strong>Gains market traction with new iX GenAI productivity applications<\/strong><\/li><li><strong>Introduces 2025 guidance indicating revenue growth, margin and free cash flow expansion<\/strong><\/li><li><strong>Increases share repurchase authorization to $600 million<\/strong><\/li><\/ul>\n\n\n\n<p>Following the release, Concentrix Corporation (NASDAQ: CNXC), a global technology and services leader, today announced financial results for the fiscal fourth quarter and fiscal year ended November 30, 2024.<\/p>\n\n\n\n<p><strong>Fourth Quarter Fiscal 2024 Highlights:<\/strong><\/p>\n\n\n\n<ul><li>Revenue of $2,448.0 million, an increase of 9.7% year-on-year compared to revenue of $2,230.8 million in the prior year fourth quarter. The Company grew revenue by 1.5% year-on-year on a pro forma constant currency basis, at the top end of its guidance range previously provided.<\/li><li>Operating income of $144.5 million, or 5.9% of revenue, compared with $180.4 million, or 8.1% of revenue in the prior year fourth quarter.<\/li><li>Non-GAAP operating income of $346.7 million, or 14.2% of revenue, compared with $340.8 million, or 15.3% of revenue, in the prior year fourth quarter. The change in non-GAAP operating margin was primarily due to spending related to the productization and commercialization of the Company\u2019s new GenAI iX product suite.<\/li><li>Adjusted EBITDA of $402.9 million, or 16.5% of revenue, compared with $397.9 million, or 17.8% of revenue, in the prior year fourth quarter.<\/li><li>Cash flow from operations was $284.4 million in the quarter. Adjusted free cash flow for the quarter was $218.7 million.<\/li><li>Diluted earnings per common share (\u201cEPS\u201d) was $1.72 compared to $1.09 in the prior year fourth quarter.<\/li><li>Non-GAAP diluted EPS was $3.26 compared to $3.36 in the prior year fourth quarter.<br>\u00a0<strong>Fourth Quarter Fiscal 2024 Highlights:<\/strong><\/li><\/ul>\n\n\n\n<ul><li>Revenue of $2,448.0 million, an increase of 9.7% year-on-year compared to revenue of $2,230.8 million in the prior year fourth quarter. The Company grew revenue by 1.5% year-on-year on a pro forma constant currency basis, at the top end of its guidance range previously provided.<\/li><li>Operating income of $144.5 million, or 5.9% of revenue, compared with $180.4 million, or 8.1% of revenue in the prior year fourth quarter.<\/li><li>Non-GAAP operating income of $346.7 million, or 14.2% of revenue, compared with $340.8 million, or 15.3% of revenue, in the prior year fourth quarter. The change in non-GAAP operating margin was primarily due to spending related to the productization and commercialization of the Company\u2019s new GenAI iX product suite.<\/li><li>Adjusted EBITDA of $402.9 million, or 16.5% of revenue, compared with $397.9 million, or 17.8% of revenue, in the prior year fourth quarter.<\/li><li>Cash flow from operations was $284.4 million in the quarter. Adjusted free cash flow for the quarter was $218.7 million.<\/li><li>Diluted earnings per common share (\u201cEPS\u201d) was $1.72 compared to $1.09 in the prior year fourth quarter.<\/li><li>Non-GAAP diluted EPS was $3.26 compared to $3.36 in the prior year fourth quarter.<br>\u00a0photo credits: <a href=\"https:\/\/ir.concentrix.com\/news-releases\/news-release-details\/concentrix-reports-fourth-quarter-and-fiscal-year-2024-results\">Concentrix Reports Fourth Quarter and Fiscal Year 2024 Results | Concentrix Corporation<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Delivers revenue growth at the high end of previous guidance range for the quarter Returns $220 million to shareholders in fiscal 2024 through share repurchases and dividends Gains market traction with new iX GenAI productivity applications Introduces 2025 guidance indicating [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":12372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7,4,19,18,6,3,5,17,317],"tags":[1012],"_links":{"self":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts\/12370"}],"collection":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12370"}],"version-history":[{"count":1,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts\/12370\/revisions"}],"predecessor-version":[{"id":12373,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts\/12370\/revisions\/12373"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/media\/12372"}],"wp:attachment":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}