secwatch.observer — SEC 8-K summary
======================================

Issuer:     EPAM Systems, Inc. (EPAM)
CIK:        0001352010
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001352010-24-000015
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1352010/000135201024000015/0001352010-24-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1352010/000135201024000015/epam-20240509.htm
  HTML page:      https://secwatch.observer/filing/0001352010-24-000015

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer