EPAM Systems Inc

EPAM

Equity

ISIN US29414B1044 / Valor 13194213

New York Stock Exchange, Inc (2024-11-21)

USD 245.22+4.57%

EPAM Systems Inc
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About company

EPAM Systems Inc. is a global provider of digital platform engineering and software development services. Since its inception, EPAM has grown significantly, marking its presence in over 40 countries and regions. This expansion underscores the company's broad geographical footprint and its ability to cater to a diverse global clientele. A notable milestone in its growth trajectory is the recording of its first billion-dollar revenue quarter, a testament to the scale and efficiency of its operations. The company's achievements and financial performance have garnered recognition, including its inclusion in the Forbes Global 2000 list, which ranks the world's largest public companies. Furthermore, EPAM's addition to the S&P 500 index highlights its status as a major player in the technology sector, reflecting its market capitalization, liquidity, and the robustness of its business model. Through its comprehensive range of services, EPAM Systems Inc. supports businesses in navigating the complexities of digital transformation, leveraging technology to drive innovation and competitive advantage.

Summarized from source with an LLMView SourceSector: Technology

Revenue Decline

EPAM Systems Inc. reported revenues of $1.147 billion for the second quarter of 2024, marking a 2.0% year-over-year decrease. This decline reflects a challenging macro-demand environment that the company is navigating.

Income from Operations

For the second quarter of 2024, EPAM Systems Inc. reported GAAP income from operations at 10.5% of revenues, while non-GAAP income from operations stood at 15.2% of revenues. This indicates a decrease in operational income compared to the previous year.

Earnings Per Share

EPAM Systems Inc.'s GAAP diluted earnings per share (EPS) for the second quarter of 2024 was $1.70, a decrease of $0.33 year-over-year. Non-GAAP diluted EPS was $2.45, down by $0.19 compared to the same period in 2023.

Full Year Outlook

EPAM Systems Inc. has updated its full-year 2024 outlook, narrowing the expected revenue range to $4.590 billion to $4.625 billion. The company also adjusted its expected GAAP diluted EPS to be between $7.18 and $7.38, and non-GAAP diluted EPS to be between $10.20 and $10.40.

Share Repurchase Program

On August 1, 2024, EPAM Systems Inc.'s Board of Directors approved a new share repurchase program, authorizing the purchase of up to $500 million of EPAM common stock. This move follows the exhaustion of the previous $500 million repurchase authorization.

Summarized from source with an LLMView Source

Key figures

-4.95%1Y

-63.1%3Y

19.3%5Y

Performance

44.0%1Y

65.6%3Y

57.9%5Y

Volatility