Convergys (CVG) Tops Q1 EPS by 1c

Convergys (NYSE: CVG) reported Q1 EPS of $0.41, $0.01 better than the analyst estimate of $0.40. Revenue for the quarter came in at $674 million versus the consensus estimate of $669.44 million.

Convergys’ expectations for 2018 remain:

• Constant currency revenue decrease of up to 7 percent, including 5 percent to 6 percent impact from significant volume fluctuations with the Company’s largest two clients;
• Adjusted EBITDA margin to approximate 12.5 percent;
• Adjusted effective tax rate to approximate 25 percent, now including provision for withholding taxes in international jurisdictions and other impacts and assumptions related to enactment of the 2017 Tax Cuts and Jobs Act (the 2017 Tax Act);
• Diluted shares outstanding to approximate 99 million;
• Adjusted EPS decrease of up to 10 percent, including 9 percent impact from changes in the effective tax rate related to the 2017 Tax Act.

For earnings history and earnings-related data on Convergys (CVG) click here.

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