IBEX Stock Falls Following Q4 Performance: Here's Why?

IBEX Limited IBEX shares are trading lower in Wednesday's after-hours session after the company reported fourth-quarter results and issued guidance.

What To Know: The company reported quarterly earnings of 33 cents per share, which missed the analyst consensus estimate of 49 cents, a 21.43% decrease over earnings of 42 cents per share from the same period last year. 

IBEX reported quarterly sales of $124.40 million, which missed the analyst consensus estimate of $125.81 million, a 0.56% increase over sales of $123.71 million from the same period last year.

The company anticipates first-quarter revenue to be in a range between $122 million and $125 million versus the $133.64 million estimate. 

Full-year 2024 revenue is estimated to be between $525 million and $535 million versus the $554.74 million estimate.

"In the face of a challenging macro-environment, ibex delivered outstanding financial results in fiscal year 2023," said Bob Dechant, CEO of IBEX. 

"Our business grew at 6% annually, driven by new wins with blue chip clients in our strategic verticals, while adjusted EBITDA grew at an impressive 49%. We made meaningful progress on growth in our key HealthTech and Retail & E-Commerce verticals, as well as our geographic footprint and capacity utilization."

"We finished the year with continued strong margin expansion and have our pipeline and sales funnel in a great position. Additionally, with our leadership position in developing AI-based solutions, I am very optimistic about the long-term trajectory of ibex in fiscal year 2024 and beyond."

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IBEX Price Action: Shares of IBEX were down 9.86% at $16.35 in the after-hours session at the time of publication, according to Benzinga Pro.

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