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ExlService (EXL) Stock Improves 2% Since Q1 Earnings Beat
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ExlService Holdings (EXLS - Free Report) reported impressive first-quarter 2024 results, with both earnings and revenues beating the respective Zacks Consensus Estimate.
The stock has gained 2% since the release of earnings in response to the better-than-expected results and updated 2024 guidance. EXL raised the lower end of both revenue and EPS guidance range. Revenues are currently expected to be $1.79 to $1.82 billion compared with the previous guidance of $1.78 to $1.82 billion. The midpoint ($1.81 billion) of the updated guidance range is higher than the current Zacks Consensus Estimate of $1.8 billion.
The company currently expects EPS to be between $1.58 and $1.62 compared with the previous expectation of $1.56 to $1.62. The midpoint ($1.6) of the updated guidance range is slightly lower than the current Zacks Consensus Estimate of $1.61.
Quarterly adjusted EPS of 38 cents beat the consensus estimate by 5.6% and increased 8.6% on a year-over-year basis. Total revenues of $436.5 million beat the Zacks Consensus Estimate by 2.8% and increased 9% on a year-over-year basis on a reported currency basis and 8.8% on a constant currency basis.
ExlService Holdings, Inc. Price, Consensus and EPS Surprise
The Analytics segment contributed $190.7 million to total revenues, up 4.9% from the year-ago reported figure. The Insurance segment grew 15.2% from the year-ago figure to $145.1 million. Revenues generated from the Healthcare and Emerging Business segments were $26.3 million and $74.4 million, respectively.
Margins Increase
Adjusted EBITDA amounted to $91.7 million, up 6% year over year. Adjusted EBITDA margin on revenues was 21%, down 60 basis points year over year. Gross margin on total revenues came in at 37.4%, 20 basis points above the year-ago figure.
Key Balance Sheet Numbers
ExlService exited the quarter with cash and cash equivalents of $108.6 million, compared with $137 million at the end of the prior quarter. Long-term debt (net of current portion) was $280 million, compared with $135 million in the prior quarter.
Recent Earnings Snapshots of Some Service Providers
Omnicom (OMC - Free Report) reported impressive first-quarter 2024 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.
OMC’s earnings of $1.67 per share beat the consensus estimate by 9.9% and increased 7.1% year over year. Total revenues of $3.6 billion surpassed the consensus estimate by 1.6% and increased 5.4% year over year.
Equifax (EFX - Free Report) reported mixed first-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate, but revenues missed the same.
EFX’s adjusted earnings were $1.5 per share, which beat the Zacks Consensus Estimate by 4.2% and up 4.9% from the year-ago quarter. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 6.7% from the year-ago quarter.
ManpowerGroup (MAN - Free Report) reported mixed first-quarter 2024 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Quarterly adjusted earnings of 94 cents per share surpassed the consensus mark by 4.4% but declined 41.6% year over year. Revenues of $4.4 billion lagged the consensus mark by 0.6% and fell 7% year over year.
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ExlService (EXL) Stock Improves 2% Since Q1 Earnings Beat
ExlService Holdings (EXLS - Free Report) reported impressive first-quarter 2024 results, with both earnings and revenues beating the respective Zacks Consensus Estimate.
The stock has gained 2% since the release of earnings in response to the better-than-expected results and updated 2024 guidance. EXL raised the lower end of both revenue and EPS guidance range. Revenues are currently expected to be $1.79 to $1.82 billion compared with the previous guidance of $1.78 to $1.82 billion. The midpoint ($1.81 billion) of the updated guidance range is higher than the current Zacks Consensus Estimate of $1.8 billion.
The company currently expects EPS to be between $1.58 and $1.62 compared with the previous expectation of $1.56 to $1.62. The midpoint ($1.6) of the updated guidance range is slightly lower than the current Zacks Consensus Estimate of $1.61.
Quarterly adjusted EPS of 38 cents beat the consensus estimate by 5.6% and increased 8.6% on a year-over-year basis. Total revenues of $436.5 million beat the Zacks Consensus Estimate by 2.8% and increased 9% on a year-over-year basis on a reported currency basis and 8.8% on a constant currency basis.
ExlService Holdings, Inc. Price, Consensus and EPS Surprise
ExlService Holdings, Inc. price-consensus-eps-surprise-chart | ExlService Holdings, Inc. Quote
Segmental Information
The Analytics segment contributed $190.7 million to total revenues, up 4.9% from the year-ago reported figure. The Insurance segment grew 15.2% from the year-ago figure to $145.1 million. Revenues generated from the Healthcare and Emerging Business segments were $26.3 million and $74.4 million, respectively.
Margins Increase
Adjusted EBITDA amounted to $91.7 million, up 6% year over year. Adjusted EBITDA margin on revenues was 21%, down 60 basis points year over year. Gross margin on total revenues came in at 37.4%, 20 basis points above the year-ago figure.
Key Balance Sheet Numbers
ExlService exited the quarter with cash and cash equivalents of $108.6 million, compared with $137 million at the end of the prior quarter. Long-term debt (net of current portion) was $280 million, compared with $135 million in the prior quarter.
Currently, EXL carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Earnings Snapshots of Some Service Providers
Omnicom (OMC - Free Report) reported impressive first-quarter 2024 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.
OMC’s earnings of $1.67 per share beat the consensus estimate by 9.9% and increased 7.1% year over year. Total revenues of $3.6 billion surpassed the consensus estimate by 1.6% and increased 5.4% year over year.
Equifax (EFX - Free Report) reported mixed first-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate, but revenues missed the same.
EFX’s adjusted earnings were $1.5 per share, which beat the Zacks Consensus Estimate by 4.2% and up 4.9% from the year-ago quarter. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 6.7% from the year-ago quarter.
ManpowerGroup (MAN - Free Report) reported mixed first-quarter 2024 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Quarterly adjusted earnings of 94 cents per share surpassed the consensus mark by 4.4% but declined 41.6% year over year. Revenues of $4.4 billion lagged the consensus mark by 0.6% and fell 7% year over year.