EPAM Systems, Inc. Provides Earnings Guidance for the Third Quarter and Full Year of 2024
August 08, 2024 at 06:00 am EDT
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EPAM Systems, Inc. provided earnings guidance for the third quarter and full year of 2024. For the quarter, the company expects revenues will be in the range of $1.145 billion to $1.155 billion for the third quarter reflecting a year-over-year decline of 0.2% at the midpoint of the range. The Company expects that revenues on an organic constant currency basis excluding the impact of the exit from Russia will decline 1.4% at the midpoint of the range; GAAP income from operations to be in the range of 10.0% to 11.0% of revenues; GAAP diluted EPS will be in the range of $1.75 to $1.83 for the quarter.
For the full year, the company expected range for revenues to $4.590 billion to $4.625 billion for the full year reflecting a year-over-year decline of 1.8% at the midpoint of the range. The Company expects that revenues on an organic constant currency basis excluding the impact of the exit from Russia will decline 2.9% at the midpoint of the range; GAAP income from operations to now be in the range of 10.5% to 11.0% of revenues; GAAP diluted EPS to now be in the range of $7.18 to $7.38.
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. 
