TLDR
- Concentrix shares dropped roughly 24% in premarket trading Tuesday after missing second-quarter earnings and revenue expectations.
- Adjusted earnings came in at $2.63 per share, a penny below estimates, while revenue hit $2.46 billion.
- Third-quarter guidance of $2.65 to $2.77 per share fell well short of the $3.08 consensus.
- Full-year 2026 guidance was slashed to $10.83-$11.18 per share, down from a prior range of $11.48-$12.07.
- The stock is now down about 39% year-to-date and over 52% in the past 12 months.
Concentrix (CNXC) stock tumbled 24% in premarket trading Tuesday, falling to $19.21 after closing at $25.23 the day before. The drop came after the customer experience company missed second-quarter earnings expectations and slashed its forward guidance.
Adjusted earnings landed at $2.63 per share, just a penny below the $2.64 consensus. Revenue came in at $2.46 billion, also a penny short of estimates, though it marked 1.9% growth from last year.
Concentrix $CNXC fell 26% after a disappointing fiscal Q2 report and weaker FY26 outlook.
The company narrowly missed EPS and revenue estimates, but the bigger hit was guidance, with FY26 EPS cut to $10.83-$11.18 vs. $11.71 consensus. pic.twitter.com/upYteIuXLl
— Wall St Engine (@wallstengine) June 30, 2026
The headline miss wasn’t the real story here. It was the guidance.
A Steep Guidance Cut
Concentrix told investors to expect third-quarter adjusted earnings of $2.65 to $2.77 per share. That’s far below the $3.08 analysts had penciled in.
Third-quarter revenue guidance of $2.465 billion to $2.490 billion also missed the $2.53 billion consensus. For the full year, the company now expects adjusted earnings of $10.83 to $11.18 per share, down sharply from its prior range of $11.48 to $12.07.
Full-year revenue guidance was trimmed too, now sitting at $9.925 billion to $10.025 billion versus the previous $10.11 billion midpoint.
Concentrix builds AI-powered and human-staffed customer experience operations for businesses, handling everything from support calls to back-office functions. The company pointed to client offshoring trends, uneven demand across different business verticals, and $175 million in restructuring costs expected through 2026 as factors weighing on results.
CEO Chris Caldwell said the company’s blended AI and services approach is “delivering value to clients.” Investors didn’t seem convinced, focusing instead on the worsening near-term outlook.
Peers Feel the Pain Too
The selloff didn’t stay contained to Concentrix. Peer Teleperformance (TLPFY) dropped 11.5% in sympathy, while TEP fell over 10%.
What makes the drop sting more is the timing. This happened on a day when the broader market was rallying. The S&P 500 climbed 1.2%, the Dow gained 0.6%, and the Nasdaq jumped 2.1%, making Concentrix’s slide look even worse by comparison.
Analysts were already cautious heading into this report. BofA Securities had previously cut its price target to $32 from $47 following first-quarter results. Barrington Research lowered its target to $38 from $62, and Canaccord Genuity trimmed its target to $55 from $80.
More target cuts are likely on the way given today’s guidance miss.
Concentrix shares are now down about 39% year-to-date through Monday’s close. Over the past 12 months, the stock has lost more than 52% of its value.
The stock is trading near $19.80, which puts it roughly 68% below its 52-week high of $62.14. It’s also closing in on its 52-week low of $22.05.
This marks the second consecutive earnings miss for the company, combined with a meaningful guidance cut and elevated restructuring spending. For shareholders who’ve already weathered a rough year, Tuesday’s premarket action added another difficult chapter to the stock’s recent history.
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