TTEC Q2 GAAP loss $6.23/sh on $233.5M impairment, revenue down 11%; lowers FY guidance

TTEC Holdings, Inc.

2024-Q2 EPS reported -$6.34 revenue$1,110,723,000

Q2 GAAP net loss $296.8M ($6.23 diluted loss per share) vs prior year net income of $3.8M ($0.08 EPS); includes $233.5M non-cash goodwill impairment.
Revenue fell 11.0% YoY to $534.1M; Engage segment revenue down 13.5%, Digital down 1.0%.
Non-GAAP operating income $29.5M (5.5% of revenue) vs $50.6M (8.4%) in Q2 2023; Adjusted EBITDA $46.2M (8.7%) vs $67.2M (11.2%).
Updated FY 2024 guidance: revenue $2,210M-$2,260M, Non-GAAP EBITDA $201M-$217M, Non-GAAP EPS $0.74-$0.97.
Net debt rose to $853.4M; revolving credit capacity dropped to ~$100M from $265M a year ago.

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