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US IT giant Genpact has reported $4.77 billion in net revenues for 2024, marking a 6.5% increase from the previous year. The company also raised its quarterly dividend by 11% and expanded its share repurchase authorisation by $500 million.
Key Financial Highlights – Full Year 2024
- Net Revenues: $4.77 billion (+6.5% YoY)
- Data-Tech-AI Net Revenues: $2.23 billion (+6.9% YoY)
- Digital Operations Net Revenues: $2.53 billion (+6.1% YoY)
- Gross Profit: $1.69 billion (+8% YoY), with a 35.5% margin
- Net Income: $514 million (down 19% YoY), with a 10.8% margin
- Diluted EPS: $2.85 (down 16% YoY)
- Adjusted Diluted EPS: $3.28 (+10% YoY)
- New Bookings: $5.7 billion (+15% YoY)
- Cash Generated from Operations: $615 million (+25% YoY)
Genpact’s Data-Tech-AI segment, which accounted for 47% of total revenues, saw a 6.9% increase, while Digital Operations grew by 6.1%, making up 53% of total revenue.
Fourth Quarter 2024 Highlights
- Net Revenues: $1.25 billion (+8.9% YoY)
- Data-Tech-AI Net Revenues: $595 million (+11.9% YoY)
- Digital Operations Net Revenues: $654 million (+6.4% YoY)
- Gross Profit: $446 million (+9% YoY)
- Net Income: $142 million (down 51% YoY)
- Diluted EPS: $0.79 (down 50% YoY)
- Adjusted Diluted EPS: $0.91 (+11% YoY)
- Cash Generated from Operations: $203 million
Despite a drop in net income, Genpact maintained strong operational performance, driven by growth in its AI-powered solutions and digital transformation services.
Dividend and Share Buyback
Genpact’s Board of Directors has approved:
- A quarterly cash dividend increase of 11% to $0.17 per share.
- A $500 million expansion in share repurchase authorisation.
The annual dividend for 2025 is now set at $0.68 per share, up from $0.61 per share in 2024.
Outlook for 2025
Genpact expects:
- Net Revenues: $5.03 billion to $5.13 billion (+5.5% to +7.5% YoY)
- Data-Tech-AI Growth: +6.2% YoY
- Digital Operations Growth: +6.8% YoY
- Gross Margin: 36%
- Adjusted Income from Operations Margin: 17.3%
- Adjusted Diluted EPS: $3.52 to $3.59
For Q1 2025, revenue is projected at $1.20 billion to $1.21 billion, reflecting 6.2% to 7.2% YoY growth.
Conference Call Details
Genpact management will discuss Q4 and full-year results in a conference call on February 6, 2025, at 5:00 PM ET. A live webcast will be available on the Genpact Investor Relations website, with a replay and transcript accessible post-call.
