8-K
filed May 5, 2023, 7:59 PM ET
ticker EPAM
CIK 0001352010
earnings
confidence high
sentiment neutral
materiality 0.75
EPAM reports Q1 revenue $1.211B (+3.4% YoY); updates FY2023 outlook with revenue $4.95-5.0B
EPAM Systems, Inc.
2023-Q1 EPS reported
$1.73
revenue$1,210,941,000
- Q1 revenue $1.211B, up 3.4% YoY; organic constant currency growth +7.0% excluding Russia exit.
- GAAP diluted EPS $1.73 (+13.8% YoY); Non-GAAP diluted EPS $2.47 (-0.8% YoY).
- Full-year revenue guidance lowered to $4.95B-$5.0B (midpoint ~3% growth); GAAP EPS $8.11-$8.31; Non-GAAP EPS $10.60-$10.80.
- Q2 revenue guidance $1.195B-$1.205B (<1% YoY); GAAP EPS $1.82-$1.90; Non-GAAP EPS $2.38-$2.46.
- Q1 operating cash flow $87.3M vs -$51.8M prior year; cash balance $1.752B.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
EPAM Systems, Inc. reported first quarter ended March 31, 2023 results: revenue $1.211 billion, EPS $1.73.
- Period
- first quarter ended March 31, 2023
- Revenue
- $1.211 billion
- EPS
- $1.73
- Result
- reported results
Exact text from the filing
EPAM Reports Results for First Quarter 2023 and Updates Full Year Outlook • First quarter revenues of $1.211 billion, up 3.4% year-over-year • GAAP Income from Operations was 9.9% of revenues and Non-GAAP Income from Operations was 14.7% of revenues for the first quarter • First quarter GAAP Diluted EPS of $1.73, an increase of 13.8%, and Non-GAAP Diluted EPS of $2.47, a decrease of 0.8% on a year-over-year basis
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
EPAM Systems, Inc. reported Full Year 2023 results: revenue $4.950 billion to $5.000 billion, EPS $8.11 to $8.31.
- Period
- Full Year 2023
- Revenue
- $4.950 billion to $5.000 billion
- EPS
- $8.11 to $8.31
- Result
- guidance update
Exact text from the filing
For the full year, EPAM now expects revenues to be in the range of $4.950 billion to $5.000 billion, GAAP Diluted EPS to be in the range of $8.11 to $8.31 and Non-GAAP Diluted EPS to be in the range of $10.60 to $10.80
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
EPAM Systems, Inc. reported Second Quarter 2023 results: revenue $1.195 billion to $1.205 billion, EPS $1.82 to $1.90.
- Period
- Second Quarter 2023
- Revenue
- $1.195 billion to $1.205 billion
- EPS
- $1.82 to $1.90
- Result
- guidance update
Exact text from the filing
For the second quarter, EPAM expects revenues to be in the range of $1.195 billion to $1.205 billion, GAAP Diluted EPS to be in the range of $1.82 to $1.90 and Non-GAAP Diluted EPS to be in the range of $2.38 to $2.46
View on SEC.gov
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