TTEC Holdings Inc (NAS:TTEC)

Q4 2024 TTEC Holdings Inc Earnings Call Transcript

Feb 28, 2025 / 01:30PM GMT

Release Date Price: $3.38 (-7.40%)

Transcript 8-K10-K

Key Points

Positve

TTEC Holdings Inc (TTEC) achieved revenue and non-GAAP adjusted EBITDA in line with guidance, with $2.2 billion in revenue and $202 million in EBITDA.
The company successfully won 15 new enterprise clients in 2024, exceeding its new client acquisition goals.
TTEC Holdings Inc (TTEC) expanded its digital CX value proposition with differentiated, technology-enabled solutions, enhancing its competitive edge.
The company was recognized as a Great Place to Work in 15 geographies, highlighting its positive workplace culture.
TTEC Holdings Inc (TTEC) strengthened relationships with over a dozen CX technology partners, enhancing collaborative product development and market strategies.

Negative

TTEC Holdings Inc (TTEC) experienced a 10.4% decrease in revenue compared to the prior year, with a decline from $2.46 billion to $2.21 billion.
The company's operating income decreased from $200 million to $136 million, reflecting a decline in profitability.
Cash flow from operations was negative $59 million in 2024, compared to a positive $145 million in the prior year.
The Engage segment's revenue retention rate dropped to 82% from 95% in the prior year, indicating challenges in maintaining client engagements.
TTEC Holdings Inc (TTEC) faced a higher normalized tax rate of 40.9% in 2024, up from 22.7% in the prior year, impacting net income.

Operator

Welcome to TTEC's fourth-quarter and full-year 2024 earnings conference call. (Operator Instructions) This call is being recorded at the request of TTEC.

I would now like to turn the call to Bob Belknapp, TTEC's Group Vice President, Corporate Finance. Thank you, sir. You may begin.

Bob Belknapp

TTEC Holdings Inc - Group Vice President - Corporate Finance

Good morning, and thank you for joining us today. TTEC is hosting this call to discuss its fourth quarter and full year results for the period ended December 31, 2024. Participating on today's call are Ken Tuchman, Chairman and Chief Executive Officer of TTEC; and Kenny Wagers, Chief Financial Officer of TTEC. Yesterday, TTEC issued a press release announcing its financial results. While this call will reflect items discussed within that document, for complete information about our financial performance, we also encourage you to read our full year 2024 annual report on Form 10-K.

Before we begin, I want to remind you that matters discussed on today's call may include forward-looking

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