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Quarterly EPS of 79 cents surpassed the consensus estimate by 8.2% and grew 9.7% year over year. Revenues of $1.18 billion beat the consensus mark by 2.6% and increased 6.4% from the year-ago quarter.
Other Quarterly Details
Data-Tech-AI services revenues (representing 46% of total revenues) increased 4% year over year on a reported, as well as constant currency basis to $546 million, surpassing our estimate of $508.8 million. Digital Operations services revenues of $630 million (54% of total revenues) increased 9% from the year-ago quarter actuals on a reported basis and at cc, missing our estimate of $637.2 million.
Adjusted income from operations totaled $198.4 million and grew 7% on a year-over-year basis. Adjusted operating income margin of 16.9% increased 10 basis points year over year.
Genpact exited the second quarter with cash and cash equivalents of $914.2 million compared with $478.4 million reported at the end of the preceding quarter. Long-term debt (less current portion) was $1.2 billion compared with $818.3 million at the end of the prior quarter.
The company generated $209 million in cash from operating activities, while capital expenditure was $19.3 million. Genpact returned $27.3 million in dividends to shareholders and repurchased shares worth $63 million.
Q3 and 2024 Guidance
For the third quarter of 2024, Genpact expects revenues to be between $1.18 billion and $1.186 billion. Gross margin and adjusted income from operating margin are anticipated to be around 35.4% and 17.2%, respectively.
For 2024, the company expects revenues to be between $4.656 billion and $4.701 billion. Adjusted EPS is expected to be in the range of $3.14 and $3.18. Gross margin and adjusted income from operating margin are anticipated to be around 35.3% and 17%, respectively.
Recent Earnings Snapshots
Omnicom (OMC - Free Report) reported impressive second-quarter 2024 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.
OMC’s earnings of $1.95 per share beat the consensus estimate by 3.7% and increased 7.7% year over year. Total revenues of $3.9 billion surpassed the consensus estimate by 1.1% and increased 6.8% year over year.
EFX’s adjusted earnings were $1.82 per share, beating the consensus estimate by 5.8% and increasing 6.4% from the year-ago quarter. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 8.6% from the year-ago quarter.
ManpowerGroup (MAN - Free Report) reported mixed second-quarter 2024 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Quarterly adjusted earnings of $1.3 per share surpassed the consensus mark by 2.4% but declined 17.7% year over year. Revenues of $4.5 billion lagged the consensus mark by a slight margin and dipped 6.9% year over year.
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Genpact's (G) Q2 Earnings Surpass Estimates, Increase Y/Y
Genpact Limited (G - Free Report) reported better-than-expected second-quarter 2024 results.
Quarterly EPS of 79 cents surpassed the consensus estimate by 8.2% and grew 9.7% year over year. Revenues of $1.18 billion beat the consensus mark by 2.6% and increased 6.4% from the year-ago quarter.
Other Quarterly Details
Data-Tech-AI services revenues (representing 46% of total revenues) increased 4% year over year on a reported, as well as constant currency basis to $546 million, surpassing our estimate of $508.8 million. Digital Operations services revenues of $630 million (54% of total revenues) increased 9% from the year-ago quarter actuals on a reported basis and at cc, missing our estimate of $637.2 million.
Adjusted income from operations totaled $198.4 million and grew 7% on a year-over-year basis. Adjusted operating income margin of 16.9% increased 10 basis points year over year.
Genpact exited the second quarter with cash and cash equivalents of $914.2 million compared with $478.4 million reported at the end of the preceding quarter. Long-term debt (less current portion) was $1.2 billion compared with $818.3 million at the end of the prior quarter.
The company generated $209 million in cash from operating activities, while capital expenditure was $19.3 million. Genpact returned $27.3 million in dividends to shareholders and repurchased shares worth $63 million.
Q3 and 2024 Guidance
For the third quarter of 2024, Genpact expects revenues to be between $1.18 billion and $1.186 billion. Gross margin and adjusted income from operating margin are anticipated to be around 35.4% and 17.2%, respectively.
For 2024, the company expects revenues to be between $4.656 billion and $4.701 billion. Adjusted EPS is expected to be in the range of $3.14 and $3.18. Gross margin and adjusted income from operating margin are anticipated to be around 35.3% and 17%, respectively.
Recent Earnings Snapshots
Omnicom (OMC - Free Report) reported impressive second-quarter 2024 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.
OMC’s earnings of $1.95 per share beat the consensus estimate by 3.7% and increased 7.7% year over year. Total revenues of $3.9 billion surpassed the consensus estimate by 1.1% and increased 6.8% year over year.
Equifax (EFX - Free Report) reported better-than-expected second-quarter 2024 results.
EFX’s adjusted earnings were $1.82 per share, beating the consensus estimate by 5.8% and increasing 6.4% from the year-ago quarter. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 8.6% from the year-ago quarter.
ManpowerGroup (MAN - Free Report) reported mixed second-quarter 2024 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Quarterly adjusted earnings of $1.3 per share surpassed the consensus mark by 2.4% but declined 17.7% year over year. Revenues of $4.5 billion lagged the consensus mark by a slight margin and dipped 6.9% year over year.