Concentrix Corporation (CNXC), a technology and services company, on Tuesday reported a net loss for the fourth quarter, reflecting increased cost of revenue and impairment charges. However, the company's adjusted earnings beat Street view.
In addition, Concentrix anticipates its first-quarter and full-year-earnings below analysts' forecasts.
For the three-month period to November 30, the company reported a net loss of $1.479 billion, or $23.85 per share, compared with a net profit of $115.650 million, or $1.72 per share, in the same period last year.
Excluding items, earnings were $183.614 million, or $2.95 per share, less than the $209.786 million, or $3.26 per share, last year. On average, 4 analysts polled had forecast the firm to earn $2.91 per share for the quarter. Analysts' estimates typically exclude special items.
Operating loss stood at $1.382 billion as against a profit of $144.536 million a year ago.
Impairment charges were $1.527 billion, compared with $0.000 billion last year. Cost of revenue moved up to $1.676 billion from $1.577 billion in 2024.
Revenue, however, improved to $2.552 billion from $2.448 billion in the previous year. The analysts were expecting the company to post revenue of $2.54 billion.
The Board will pay a quarterly dividend of $0.36 per share on February 10 to shareholders of record as of January 30.
Looking ahead, for the first quarter, the company anticipates adjusted income of $2.57 to $2.69 per share, below analysts' forecast of $2.9 per share.
For the first quarter, Concentrix projects revenue of $2.475 billion to $2.500 billion, in line with Street view of $2.49 billion.
For the full year, the company expects adjusted profit of $11.48 to $12.07 per share, less than analysts' forecast of $12.25 per share. Concentrix anticipates revenue of $10.035 billion to $10.180 billion, compared with Street view of $10.12 billion.
CNXC was down by 6.62% at $37.80 in the pre-market trade on the Nasdaq.
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