StarTek (SRT) Tops Q3 EPS by 9c, Revenues Beat

StarTek (NYSE: SRT) reported Q3 EPS of $0.08, $0.09 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $162.7 million versus the consensus estimate of $152 million.

Management Commentary

“Our third quarter performance demonstrates our continued progress in recovering from the pandemic and further improving operational efficiency,” said Aparup Sengupta, Executive Chairman and Global CEO of Startek. “We drove sequential quarterly improvements across all key financial metrics, as well as significant year-over-year growth on the bottom line. Further, we are operating at close to full strength relative to pre-COVID levels, with over 90% of our global workforce now active in either remote or on-campus environments. I am proud of our team’s agility and deep commitment to maintaining the quality and continuity of our services during this challenging period.

“The operational improvements and digital initiatives we have implemented over the past several quarters have allowed us to expand our scope of work within our core verticals and launch several new client programs, all while maintaining a keen focus on cost management. This has been further supported by continued robust demand in the e-commerce and healthcare sectors, where clients are increasingly leveraging our differentiated, rapidly evolving digital solutions. Our recently introduced StarCloud omnichannel platform also continues to provide a seamless and secure customer experience for our clients by enabling remote work environments for our teams across the globe.

“Looking ahead, we expect our digital initiatives to be a key driver of both future revenue growth and operating leverage, as we believe the hybrid remote work structure is here to stay for the long-term. As such, we have recently reduced our physical capacity by nearly 10%. We remain well prepared for a resurgence in COVID-19 cases within any of our geographies, as we now have the flexibility to quickly pivot operations with our StarCloud technology. With a strong foundation in place, we believe we are in the early innings of the next phase of growth for Startek as we look to carry our momentum into next year.”

For earnings history and earnings-related data on StarTek (SRT) click here.

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