secwatch.observer — SEC 8-K summary
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Issuer:     EPAM Systems, Inc. (EPAM)
CIK:        0001352010
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001352010-23-000047
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EPAM Q3 revenue $1.152B (-6.1% YoY); GAAP EPS $1.65, initiates cost optimization program
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1352010/000135201023000047/0001352010-23-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1352010/000135201023000047/epam-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001352010-23-000047

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