10-Q · July 2, 2026
Concentrix Corporation reported Q2 2026 revenue of $2.46 billion, a slight decline compared to the prior period. However, EPS was $2.63, exceeding expectations. Operating income decreased significantly due to rising…
Earnings analysis · 10-Q
CNXC earnings analysis
Filed October 7, 2026 · Our reading of the company's report
The latest report
Concentrix delivered a mixed quarter: revenue of $2.454 billion declined 0.3% sequentially and 1.1% year over year and missed estimates, while non-GAAP EPS of $2.92 exceeded expectations by 6.96%. GAAP EPS was $(16.24)…
Read full summary
Concentrix delivered a mixed quarter: revenue of $2.454 billion declined 0.3% sequentially and 1.1% year over year and missed estimates, while non-GAAP EPS of $2.92 exceeded expectations by 6.96%. GAAP EPS was $(16.24) because of a $1.050 billion goodwill impairment, but adjusted free cash flow improved to $218.3 million. The filing identifies meaningful foreign-exchange and interest-rate exposures, while reporting no material changes to the risk factors disclosed in the prior 10-K.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-16.24
What stood out
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Revenue declined and missed estimates
Revenue was $2.454 billion, down from $2.460 billion in the prior quarter and $2.480 billion a year earlier, representing sequential and year-over-year declines of approximately 0.3% and 1.1%, respectively. Revenue was also below the $2.47794956 billion estimate by approximately $23.95 million.
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Adjusted EPS beat expectations
Non-GAAP diluted EPS was $2.92 versus the $2.73 estimate, a $0.19 or 6.96% beat. Adjusted operating margin was 12.6%, according to the company’s earnings disclosure.
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Goodwill impairment drove GAAP loss
GAAP diluted EPS was $(16.24), primarily reflecting a $1.050 billion goodwill impairment charge. This produced a sharp divergence between reported GAAP earnings and adjusted profitability.
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Cash generation remained strong
Adjusted free cash flow was $218.3 million, versus $210 million in the prior quarter and $160 million in the year-ago quarter, indicating stronger cash conversion despite modest revenue contraction.
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Controls remained effective
The company stated that approximately 52% of revenue is priced in U.S. dollars, leaving substantial exposure to movements in the euro, British pound, Japanese yen, Brazilian real and other currencies.
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Controls remained effective
Management concluded that disclosure controls were effective as of August 31, 2026, and reported no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls during the quarter.
What to watch
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Foreign-exchange exposure
A hypothetical 10% adverse change in underlying foreign-currency rates would produce an estimated $103.9 million loss in the fair value of hedging contracts, although the filing states this would be substantially offset by gains on the related exposures.
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Variable-rate debt exposure
Outstanding debt under the Restated Credit Agreement and Securitization Facility is variable-rate debt. A 100-basis-point increase in interest rates would raise annual interest expense by approximately $24.4 million, holding other variables constant.
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Material goodwill impairment
The $1.050 billion goodwill impairment charge reduced GAAP diluted EPS to $(16.24), highlighting material impairment and earnings-quality risk even though non-GAAP diluted EPS was $2.92.
Management's outlook
The 10-Q does not state whether full-year guidance changed versus the prior outlook. The previously disclosed fiscal 2026 outlook was $9.827 billion-$9.877 billion of revenue, $10.97-$11.09 of non-GAAP diluted EPS, and $630 million-$650 million of adjusted free cash flow.
Earlier filings 4
10-Q · April 3, 2026
Concentrix reported revenue of $2,500,391 (in thousands) for the quarter, up from $2,372,222 in the year‑ago quarter, but results show material margin and cash‑flow deterioration. Diluted EPS per the 10‑Q was $0.33…
10-K · January 28, 2026
Concentrix positions itself as a global, technology‑infused leader in customer experience (CX) and digital operations, emphasizing GenAI/agentic AI products (iX Hello / iX Hero) and a strategy of scale via strategic…
10-Q · April 4, 2025
Concentrix reported quarterly revenue of $2,372,222,000 (down $30,526,000 or -1.27% year-over-year) and diluted EPS of $1.04 (up $0.28 vs. $0.76 a year ago). Operating income improved to $168,867,000 (+$20,428,000) and…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.