CBIZ IncCBIZ posted the highest full-year guidance raise among peers, indicating strong future outlook.
Business process outsourcing and consulting stocks reported mixed first-quarter results, with the group's revenues beating analyst consensus estimates by 1.5% while next-quarter revenue guidance came in 0.7% below expectations. Genpact reported revenues of $1.30 billion, up 6.7% year on year and exceeding estimates by 0.5%, though its stock fell 16.9% since the release. CBIZ posted revenues of $848.6 million, up 1.3% year on year but missing estimates by 0.6%, yet delivered the highest full-year guidance raise among peers. Concentrix recorded revenues of $2.5 billion, up 5.4% year on year and in line with expectations, but missed EPS estimates and saw its stock drop 24.4%. CRA International reported revenues of $201 million, up 10.5% year on year and beating estimates by 3.7%, the biggest beat among peers, while Huron Consulting Group posted revenues of $451.8 million, up 11.8% year on year and exceeding estimates by 0.7%. On average, share prices of the eight tracked companies are down 13.8% since their latest earnings results.
CBIZ IncCBIZ posted the highest full-year guidance raise among peers, indicating strong future outlook.
CRA International IncCRA International reported revenues beating estimates by 3.7%, the biggest beat among peers.
Huron Consulting Group IncHuron Consulting Group posted revenues up 11.8% year on year, exceeding estimates by 0.7%.
Concentrix CorporationConcentrix missed EPS estimates and its stock dropped 24.4%.
Genpact LimitedGenpact's stock fell 16.9% since earnings release despite revenue beat, likely due to market disappointment.