Concentrix cuts annual forecast as clients trim spend; shares fall

Concentrix Corporation

Concentrix Corporation

CNXC

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- Concentrix CNXC.O cut its annual revenue and adjusted profit forecasts on Monday, pointing to increased financial pressure on clients, sending the customer experience firm's shares down 22% in extended trading.

California-based Concentrix is a global provider of technology-infused customer experience solutions and business process outsourcing services.


Here are a few details on the results:

  • Concentrix expects a nearly 2% headwind to its outlook for the third quarter and the rest of the year, driven by reduced spending from clients facing mounting financial pressures, CEO Chris Caldwell said on a post-earnings call.

  • While budget constraints have fueled demand for Concentrix's automation and offshoring solutions, they have also prompted clients to prioritize expenditures and trim overall outlays, Caldwell said.

  • For full-year 2026, the company now expects revenue in the range of $9.93 billion to $10.03 billion, compared to its prior projection of between $10.04 billion and $10.18 billion.

  • It sees adjusted profit between $10.83 and $11.18 per share for the year ending November 30, 2026, also below an earlier forecast of between $11.48 and $12.07.

  • Concentrix expects third-quarter revenue between $2.47 billion and $2.49 billion, while four analysts polled by LSEG expect revenue of $2.53 billion.

  • The company reported second-quarter revenue of $2.46 billion for the period ending May 31, slightly missing an estimate of $2.47 billion.