Business
EXL Reports 2020 Second Quarter Results
2020 Second Quarter Revenues of $222.5 Million, down 8.6% year-over-year Q2 Diluted EPS (GAAP) of $0.24, down from $0.36 in Q2 of 2019 Q2 Adjusted Diluted EPS
About this update from Exlservice Holdings, Inc.
[{"type":"text","content":"2020 Second Quarter Revenues of $222.5 Million, down 8.6% year-over-year\n Q2 Diluted EPS (GAAP) of $0.24, down from $0.36 in Q2 of 2019 Q2 Adjusted Diluted EPS (Non-GAAP) of $0.53, down from $0.74 in Q2 of 2019 NEW YORK, Aug. 06, 2020 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a leading operations management and analytics company, today announced its financial results for the quarter ended June 30, 2020. Rohit Kapoor, Vice Chairman and Chief Executive Officer, said, “In the second quarter of 2020, we transitioned quickly to a ‘work-from-anywhere’ model and by the quarter’s end we were meeting over 95% of client delivery needs despite the unique and historic challenges of COVID-19. We finished the quarter with revenues of $222.5 million, down 9.6% sequentially and 8.6% year over year, compared to our prior guidance that second quarter 2020 revenue would decline 15% sequentially. Adjusted diluted EPS was $0.53, better than the high end of our expected range owing to higher revenue and cost management. While the market environment remains volatile due to the ongoing pandemic, our business model has become even more relevant as clients accelerate their digital transformation agendas to provide services to customers in a contactless manner and seek greater efficiency.” Maurizio Nicolelli, Chief Financial Officer, said, “EXL’s operating model has shown tremendous resilience during the past quarter and the increased visibility in our business gives us confidence to resume guidance for 2020. Our revenue guidance for 2020 is $922 million - $938 million, representing a reduction of 3.5% to 5.0% on a constant currency basis from 2019. Our adjusted diluted EPS guidance for 2020 is $2.60 - $2.80. We anticipate sequential revenue and adjusted EPS growth in the second half of the year, but given the unknown duration and severity of the pandemic, our current expectations could change. Our balance sheet has remained strong with cash and short-term investments of $335.6 million as of June 30, 2020.” Financial Highlights: Second Quarter 2020 Effective January 1, 2020, we made certain operational and structural changes to manage and report financial information through our four reportable segments: Insurance, Healthcare, Emerging Business and Analytics. Financial information for historical periods are recast to conform to the cu...