Concentrix Gears Up to Report Q4 Earnings: What’s in the Offing?

Concentrix Corporation (CNXC Quick QuoteCNXC – Free Report) is scheduled to release fourth-quarter fiscal 2024 results on Jan. 15, after market close.

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CNXC surpassed the Zacks Consensus Estimate in two of the past four quarters and missed twice, the earnings surprise being 2.3%, on average.

Concentrix’s Q4 Expectations

The Zacks Consensus Estimate for revenues is pegged at $9.6 billion, suggesting a 35.2% increase from the year-ago quarter’s actual. The top line is estimated to have been driven by an increase in client requests for transformation investments in exchange for longer contracts.

We anticipate technology leadership to have allowed the company to drive automation to enhance performance and lower costs for the client while improving the customer experience.

Recently, the company launched iX Hello, which is CNXC’s first product in its new Intelligent Experience Technology Suite focussed on assisting organizations to harness the power of Gen-AI across their operations.

This above-mentioned product, which integrates across internal applications to boost clients’ productivity, visibility and quality of work with an on-brand, compliant, and secure environment, is likely to have resulted in more client wins, thereby boosting CNXC’s top line.

The consensus estimate for earnings is pegged at $11.1 per share, indicating a 2.9% decline on a year-over-year basis.

What Our Model Predicts for CNXC

Our proven model does not conclusively predict an earnings beat for Concentrix this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter.

CNXC has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Earnings Snapshot of CNXC’s Peers

ABM Industries Incorporated (ABM Quick QuoteABM – Free Report) reported impressive fourth-quarter fiscal 2024 results.

ABM’s EPS (excluding $1.1 from non-recurring items) was 90 cents, which outpaced the Zacks Consensus Estimate by 4.7% while declining 10.9% on a year-over-year basis. Total revenues of $2.2 billion surpassed the consensus mark by 4.3% and increased 4% from the year-ago quarter.

TransUnion (TRU Quick QuoteTRU – Free Report) posted impressive third-quarter 2024 results.

TRU’s quarterly adjusted earnings (adjusting 69 cents from non-recurring items) of $1 per share surpassed the consensus mark by 2% and increased 14.3% on a year-over-year basis. Total revenues of $1.1 billion outpaced the consensus mark by 2.2% and increased 12% from the year-ago quarter.