The following is a summary of the TTEC Holdings, Inc. (TTEC) Q1 2024 Earnings Call Transcript:
Financial Performance:
TTEC Holdings' Q1 2024 revenue was reported at $577 million, marking a decrease from prior periods.
The company's adjusted EBITDA stood at $55 million and non-GAAP adjusted EPS was $0.27 on a non-GAAP basis.
TTEC's Q1 2024 performance was consistent with expectations. Full-year guidance for 2024 remained unchanged at the consolidated and segment level.
Business Progress:
TTEC reported progress in diversifying their strategy, focusing on attracting new clients, expanding their geographical footprint, and additional collaborations with 'hyperscalers' and other CX technology players.
AI-enabled solutions were launched, and positive momentum was seen in their TTEC Digital division.
The company plans to accelerate investment in their cloud infrastructure and expects capital expenditures to increase.
TTEC embarks on cost optimization efforts, aiming to deliver double-digit EBITDA margins in 2025.
The company is focused on improving its fixed to variable cost dynamics and operational efficiency and is committed to delivering quality customer experience while creating long-term shareholder value.
AI is recognized as a key tool creating new opportunities in areas such as content moderation and data annotation, improving outcomes, and reducing attrition.
Offshore servicing is viewed as additive and not cannibalizing the onshore work, particularly in regulated industries with onshore requirements.
More details: TTEC Holdings IR
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