EPAM Q1 revenue $1.165B (-3.8% YoY), GAAP EPS $1.97; cuts FY revenue guidance to $4.575-4.675B

EPAM Systems, Inc.

2024-Q1 EPS reported $1.97 revenue$1,165,465,000

Q1 revenue $1.165B (-3.8% YoY); GAAP operating margin 9.5%, non-GAAP 14.9%.
GAAP diluted EPS $1.97 (+13.9% YoY); non-GAAP diluted EPS $2.46 (-0.4% YoY).
Full-year revenue guidance lowered to $4.575-4.675B (midpoint -1.4% YoY); GAAP EPS $7.34-7.64, non-GAAP $10.00-10.30.
Q2 2024 revenue guidance $1.135-1.145B; GAAP EPS $1.52-1.60, non-GAAP $2.21-2.29.
CEO says challenging demand unlikely to improve in 2024; company refining operations and investing in AI.

item 2.02 item 9.01

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 For the second quarter guidance (initiated).

Period: For the second quarter
Guidance: initiated
Result: guidance update

Exact text from the filing

For the second quarter, EPAM expects revenues to be in the range of $1.135 billion to $1.145 billion, GAAP diluted EPS to be in the range of $1.52 to $1.60 and non-GAAP diluted EPS to be in the range of $2.21 to $2.29

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EPAM Systems, Inc. updated its for the full year guidance (lowered).

Period: for the full year
Guidance: lowered
Result: guidance update

Exact text from the filing

For the full year, EPAM updates expected revenues to now be in the range of $4.575 billion to $4.675 billion, updates expected GAAP diluted EPS to now be in the range of $7.34 to $7.64 and narrows expected range for non-GAAP diluted EPS to $10.00 to $10.30

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EPAM Systems, Inc. reported the first quarter ended March 31, 2024 results: revenue $1.165 billion, EPS $1.97. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $1.165 billion
EPS: $1.97
Guidance: reaffirmed
Result: reported results

Exact text from the filing

• First quarter revenues of $1.165 billion, down 3.8% year-over-year •

View on SEC.gov

1341 earnings releases filed in the last 30 days. Browse all earnings releases →

EPAM Systems, Inc. filing history →

Source: SEC EDGAR

accession 0001352010-24-000015

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.