Q3 2024 TTEC Holdings Inc Earnings Call Transcript
Key Points
- TTEC Holdings Inc (TTEC) reported a sequential increase in adjusted EBITDA from $46 million to $50 million, indicating improved profitability.
- The company is on track to establish a dozen new meaningful client relationships by year-end, diversifying across industries such as financial services, healthcare, and retail.
- TTEC Holdings Inc (TTEC) is experiencing growth in offshore operations, with a 43% increase in headcount in new geographies from the second to third quarter.
- The company is making progress in selling AI-enabled solutions, which are expected to drive operational efficiencies and revenue growth.
- TTEC Holdings Inc (TTEC) is seeing strong demand for its recurring managed services offerings, which increased by 12.9% year over year.
- TTEC Holdings Inc (TTEC) reported a 12.2% decrease in revenue compared to the prior year period, reflecting challenges in the current market environment.
- The company's digital professional services revenue was negatively impacted by delayed decision-making by clients on larger deals.
- The engage segment's last 12-month revenue retention rate declined to 85% from 96% in the prior year, primarily due to reductions from a large financial services client.
- Free cash flow was negatively impacted by the discontinuation of the accounts receivable factoring facility, resulting in a negative $100 million for the quarter.
- The company suspended its semiannual dividend to prioritize debt reduction, indicating financial constraints.
Welcome to TTECH third quarter, 2024 earnings conference call. I would like to remind all parties that you will be in a listen-only mode until the question and answer session. This call is being recorded at the request of TTECH. I would now like to turn the call over to Paul Miller TTE's senior Vice President, treasurer and investor relations officer. Thank you, sir. And you may begin.
Good morning and thank you for joining us today. TTECH is hosting this call to discuss its third quarter results for the period ended September 30th 2024 participating on today's call are Ken Tuchman, Chairman and Chief Executive Officer of TTECH. Kenny Wagers, Chief Financial Officer of TTECH and Shelly Swanback, Chief Executive Officer of TTECH. Engage yesterday, TTECH issued a press release announcing its financial results while this call will reflect items discussed within that document for complete information about our financial performance. We also encourage you to read our third
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
