Concentrix to Unveil Q4 and Full Year 2024 Financial Results, Host Webcast
Thursday, Jan 2, 2025 4:12 pm ET
Concentrix Corporation (NASDAQ: CNXC), a global technology and services leader, has announced that it will release its fourth quarter and full year fiscal 2024 financial results after market close on Wednesday, January 15, 2025. The company will also host a conference call and webcast with the investment community to discuss the financial results on the same day at 5:00 pm Eastern Time.
The live conference call webcast will be available in listen-only mode in the Investor Relations section of the Concentrix website under "Events and Presentations" at
Concentrix Corporation, a Fortune 500® company, is the global technology and services leader that powers the world's best brands, today and into the future. The company is human-centered, tech-powered, and intelligence-fueled, offering fully integrated, end-to-end solutions at speed and scale across the entire enterprise. Concentrix helps over 2,000 clients solve their toughest business challenges by designing, building, and running solutions that improve customer experiences, build and scale secure AI technologies, and run digital operations that deliver global consistency with a local touch.
Investor Contact:
Sara Buda
Investor Relations
Concentrix Corporation
sara.buda@concentrix.com
Concentrix's strategic investment in R&D has significantly impacted its competitive position and innovation capabilities in the business services sector. The company has consistently allocated a substantial portion of its revenue to R&D, demonstrating its commitment to innovation and competitive differentiation. This investment has enabled Concentrix to develop and implement cutting-edge technologies, such as AI and machine learning, to enhance its service offerings and client engagement strategies. For instance, the company's recent launch of iX Hello, an intelligent experience technology suite designed to enhance business productivity through generative AI, showcases its ability to leverage AI trends to stay ahead in the market. Additionally, Concentrix's projected annual earnings growth of 50.9% outpaces the broader U.S. market's average of 15.4%, further highlighting the positive impact of its R&D investments on its competitive position and innovation capabilities.
The acquisition of Webhelp has significantly expanded Concentrix's global footprint and customer base. Webhelp is a leading European customer experience (CX) player, and its acquisition for $4.8B in cash and stock has helped Concentrix consolidate an industry where it and Teleperformance are the largest players. This acquisition has allowed Concentrix to roll up smaller competitors and strengthen its position as a global CX leader. With this acquisition, Concentrix has been able to expand its reach into new markets and gain access to a larger customer base, further solidifying its position as a top CX vendor globally.
The integration of Webhelp's operations into Concentrix's business model has led to several synergies:
1. Expansion into new markets: Webhelp's presence in Europe has allowed Concentrix to expand its global footprint, enabling it to serve a broader range of clients and tap into new markets.
2. Increased scale and diversity: The acquisition has increased Concentrix's scale, making it one of the top two CX vendors globally. This scale allows Concentrix to offer a more diverse range of services and solutions to its clients.
3. Enhanced service offerings: By integrating Webhelp's capabilities, Concentrix has been able to enhance its service offerings, providing clients with a more comprehensive suite of CX solutions.
4. Cost synergies: The integration of Webhelp's operations has allowed Concentrix to realize cost synergies, as it has been able to streamline processes and eliminate redundancies.
5. Innovation and growth: The acquisition has also allowed Concentrix to benefit from Webhelp's innovation and growth strategies, further strengthening its position in the CX industry.
FPA Queens Road Small Cap Value Fund, in its Q3 2024 investor letter, highlighted these synergies and expressed its belief that the Webhelp acquisition would help consolidate the CX industry, where Concentrix and Teleperformance are the largest players.
The acquisition of Webhelp has had a significant impact on the combined entity's revenue growth and profitability. In the third quarter of fiscal 2024, the combined entity generated $2.39 billion in revenue, up 46.2% year-over-year. This growth was driven by an 8% year-over-year increase in revenue from the retail, travel, and e-commerce verticals. The acquisition of Webhelp, a leading European customer experience (CX) player, contributed to this growth by expanding Concentrix's customer base and service offerings.
The acquisition also had a positive impact on the combined entity's profitability. In the same quarter, the company reported an operating income of $153.24 million, up from $107.23 million in the previous quarter. This increase in profitability can be attributed to the synergies and cost savings realized from the integration of Webhelp's operations into Concentrix's existing business.
Overall, the acquisition of Webhelp has helped Concentrix to grow its revenue and improve its profitability, positioning the combined entity as a leading global CX vendor.