8-K
filed November 2, 2023, 7:59 PM ET
ticker EPAM
CIK 0001352010
earnings
confidence high
sentiment negative
materiality 0.75
EPAM Q3 revenue $1.152B (-6.1% YoY); GAAP EPS $1.65, initiates cost optimization program
EPAM Systems, Inc.
2023-Q3 EPS reported
$5.40
revenue$3,533,283,000
- GAAP diluted EPS $1.65 (down $0.98 YoY); Non-GAAP diluted EPS $2.73 (down $0.37 YoY).
- Revenue $1.152B, down 6.1% YoY; organic constant currency decline 7.8% excluding Russia exit.
- Cost Optimization Program initiated, targeting >$100M annual savings; incurred $7.1M in Q3.
- Full-year guidance narrowed: rev $4.663-4.673B; GAAP EPS $7.07-7.15; Non-GAAP EPS raised to $10.31-10.39.
- Q4 outlook: revenue $1.130-1.140B; GAAP EPS $1.67-1.75; Non-GAAP EPS $2.47-2.55.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
EPAM Systems, Inc. updated its the full year guidance (reaffirmed).
- Period
- the full year
- Guidance
- reaffirmed
- Result
- guidance update
Exact text from the filing
For the full year, EPAM narrows expected revenues to be in the range of $4.663 billion to $4.673 billion, narrows expected GAAP Diluted EPS to be in the range of $7.07 to $7.15 and increases expected Non-GAAP Diluted EPS to now be in the range of $10.31 to $10.39
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
EPAM Systems, Inc. updated its the fourth quarter guidance (reaffirmed).
- Period
- the fourth quarter
- Guidance
- reaffirmed
- Result
- guidance update
Exact text from the filing
For the fourth quarter, EPAM expects revenues to be in the range of $1.130 billion to $1.140 billion, GAAP Diluted EPS to be in the range of $1.67 to $1.75 and Non-GAAP Diluted EPS to be in the range of $2.47 to $2.55
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
EPAM Systems, Inc. reported the third quarter ended September 30, 2023 results: revenue $1.152 billion, EPS $1.65. Guidance reaffirmed.
- Period
- the third quarter ended September 30, 2023
- Revenue
- $1.152 billion
- EPS
- $1.65
- Guidance
- reaffirmed
- Result
- reported results
Exact text from the filing
stated by specific reference in such a filing. --- EX-99.1 (EX-99.1) --- EPAM Reports Results for Third Quarter 2023 and Updates Full Year Outlook • Third quarter revenues of $1.152 billion, down 6.1% year-over-year • GAAP Income from Operations was 9.9% of revenues and Non-GAAP Income from Operations was 17.0% of revenues for the third quarter • Third quarter GAAP
View on SEC.gov
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