EPAM Systems, Inc. Provides Earnings Guidance for the Third Quarter and Full Year of 2021
August 05, 2021 at 06:00 am EDT
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EPAM Systems, Inc. provides earnings guidance for the third quarter and full year of 2021. For the quarter, the company expects Revenues will be in the range of $957 million to $965 million on a GAAP basis for the third quarter reflecting a year-over-year growth rate of approximately 47% at the mid-point of the range. Income from operations to be in the range of 13.5% to 14.5% of revenues. Diluted EPS will be in the range of $1.89 to $1.96 for the quarter.
For the year, the company expects revenue growth for to be at least 37% on a GAAP basis, which includes a favorable foreign currency translation impact of approximately 2%. Revenue growth on a constant currency basis will now be at least 35%. Income from operations to be in the range of 13.5% to 14.5% of revenues. Diluted EPS to now be in the range of $7.70 to $7.89 for the year.
EPAM Systems, Inc. specializes in the development and marketing of advanced digital solutions for companies and organizations. The group offers software engineering services, development and management of digital platforms, maintenance and optimization of IT infrastructures, consulting to companies, etc. Net sales break down by activity area as follows:
- travel, transport and retail (22.9%);
- financial services (21.7%);
- information services and media (16.1%);
- software and technology (15.1%);
- life sciences and health (10.4%);
- other (13.8%).
Net sales are distributed geographically as follows: the United States (56.2%), the United Kingdom (12.5%), Switzerland (7.8%), the Netherlands (5%), Germany (3.8%), Canada (2.1%), Russia (0.3%), and other (12.3%).
EPAM SYSTEMS, INC. 
