Rackspace Technology (RXT) Tops Q4 EPS by 1c, Guidance Misses

Rackspace Technology (NASDAQ: RXT) reported Q4 EPS of ($0.03), $0.01 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $720 million versus the consensus estimate of $715.64 million.

GUIDANCE:

Rackspace Technology sees Q1 2024 revenue of $680-690 million, versus the consensus of $709.2 million.

Financial Outlook

Rackspace Technology is providing guidance as follows:

Definitions of non-GAAP financial measures and the reconciliations to the most directly comparable measures in accordance with generally accepted accounting principles in the United States (“GAAP”) are provided in subsequent sections of this press release narrative and supplemental schedules. Rackspace Technology has not reconciled Non-GAAP Operating Profit, Non-GAAP Loss Per Share, Non-GAAP Other Income (Expense) or Non-GAAP Tax Expense Rate guidance to the most directly comparable GAAP measure because it does not provide guidance on GAAP net income (loss) or the reconciling items between these Non-GAAP measures and GAAP net income (loss) as a result of the uncertainty regarding, and the potential variability of, certain of these items, such as share-based compensation expense. Accordingly, a reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measure is not available without unreasonable effort. With respect to Non-GAAP Operating Profit, Non-GAAP Loss Per Share, Non-GAAP Other Income (Expense) and Non-GAAP Tax Expense Rate guidance, adjustments in future periods are generally expected to be similar to the kinds of charges and costs excluded from these Non-GAAP measures in prior periods, but the impact of such adjustments could be significant.

For earnings history and earnings-related data on Rackspace Technology (RXT) click here.

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