Ibex Q2 revenue rises 17%, raises fiscal guidance

Overview

• BPO provider's fiscal Q2 revenue grew 17% yr/yr, driven by key verticals

• Adjusted EPS for fiscal Q2 increased 46% yr/yr

• Company raised fiscal year revenue and adjusted EBITDA guidance

Outlook

• Ibex raises fiscal year revenue guidance to $620-$630 mln from $605-$620 mln

• Company increases fiscal year adjusted EBITDA guidance to $80-$82 mln from $78-$81 mln

• Capital expenditures expected at upper end of $20-$25 mln range

Result Drivers

• VERTICAL GROWTH - Revenue growth driven by HealthTech, Travel, Transportation and Logistics, and Retail & E-commerce

• OPERATIONAL DELIVERY - Exceptional operational delivery for blue-chip clients led to market share gains

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the software peer group is "buy."

• Wall Street's median 12-month price target for Ibex Ltd is $41.00, about 18.9% above its February 4 closing price of $34.47

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release: ID:nGNX7WnjTP

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