Concentrix cuts annual forecast as clients trim spend
CONCENTRIX 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 percent in extended trading.
Founded in 2004, the California-based Concentrix is a global provider of technology-infused customer experience solutions and business process outsourcing services.
Concentrix expects a nearly 2-percent 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 Nov. 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.