CONCENTRIX CORPORATION Reports Strong Earnings for Q2 of FY 2023
July 5, 2023
☀️Earnings Overview
On May 31 2023, CONCENTRIX CORPORATION ($NASDAQ:CNXC) reported their second quarter 2023 earnings, with total revenue increasing by 3.0% to USD 1614.7 million compared to the same quarter last year. However, their net income was down 30.3% year over year, amounting to USD 78.8 million.
Market Price
On Wednesday, CONCENTRIX CORPORATION reported strong earnings for Q2 of FY 2023, with the company’s stock opening at $83.7 and closing at $83.5. Although the closing price was down by 0.3% from the prior closing price of 83.7, it was still a strong quarter for the company. This was the result of increased sales from the company’s core business operations and also from its strategic partnerships with other companies. The company expects its strong performance to continue in the coming quarters, with analysts forecasting further growth in earnings and revenue. The company’s CEO praised the hard work of the employees and credited them for the strong financial performance.
He also expressed optimism about the future of the company, citing its strong market position and ability to deliver value for its customers as key reasons for its success. Overall, it was a strong quarter for CONCENTRIX CORPORATION and investors are optimistic that the company’s long-term prospects remain strong. Going forward, analysts will be watching closely to see if the company can maintain its impressive performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Concentrix Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 6.47k | 381.62 | 5.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Concentrix Corporation. More…
| Operations | Investing | Financing |
| 659.6 | -1.84k | 1.24k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Concentrix Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.56k | 3.71k | 55.77 |
Key Ratios Snapshot
Some of the financial key ratios for Concentrix Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.3% | 29.6% | 10.3% |
| FCF Margin | ROE | ROA |
| 8.1% | 14.7% | 6.3% |
Analysis
As GoodWhale, we have conducted an analysis of CONCENTRIX CORPORATION‘s fundamentals. Investors looking for companies with a strong competitive advantage may be interested in this company. In terms of financial performance, CONCENTRIX CORPORATION is strong in growth and profitability, and medium in dividend. However, it is weak in asset. Its health score is 8/10 when it comes to cashflows and debt, which implies that it is capable to sustain future operations in times of crisis. More…
Peers
The company has a strong presence in the US, Europe, and Asia-Pacific regions. Concentrix Corp’s competitors include WidePoint Corp, Oracle Corp Japan, Alithya Group Inc, and other IT outsourcing and customer relationship management companies.
– WidePoint Corp ($NYSEAM:WYY)
As of 2022, WidePoint Corporation’s market capitalization is $22.18 million. The company’s return on equity is -30.85%. WidePoint Corporation is a technology solutions provider that specializes in secure mobility management and enterprise cybersecurity solutions. The company’s products and services enable government agencies and enterprises to deploy and manage mobile devices and applications securely and cost-effectively.
– Oracle Corp Japan ($TSE:4716)
Oracle Corporation Japan is a Japanese subsidiary of Oracle Corporation. It is one of the largest software companies in the world, with a market capitalization of over $1 trillion. The company develops and sells database, middleware, and application software. Oracle Corporation Japan has a return on equity of 37.48%.
– Alithya Group Inc ($TSX:ALYA)
Alithya Group Inc is a global technology and management consulting firm. They offer a comprehensive range of digital, consulting, and managed services to organizations in North America, Europe, and Asia Pacific. They have a market cap of 232M as of 2022 and a Return on Equity of -4.33%. The company has been struggling financially in recent years and has been cutting costs in an attempt to improve their bottom line.
Summary
Investing in Concentrix Corporation is a risky proposition, as the company reported a decrease in net income for the second quarter of its 2023 fiscal year. Despite a 3.0% increase in revenue compared to the same quarter last year, net income decreased by 30.3%. Investors should still weigh their options carefully before investing in this company, as there are potential risks involved. Potential investors should also consider other important financial metrics such as cash flow, profits and debt before making an investment decision.
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