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TTEC Holdings updates FY'19 guidance

TTEC Holdings Inc. updated its full-year 2019 guidance, which excludes restructuring charges, impairment charges and PRG Middle East.

The company now expects 2019 revenue to be in the range of $1.62 billion to $1.63 billion, compared with its previous guidance of $1.61 billion to $1.63 billion. Using the midpoint of this guidance, TTEC Holdings estimates TTEC Digital and TTEC Engage to comprise 18% and 82% of revenue, respectively.

TTEC Holdings anticipates full-year operating income margins of between 7.8% and 8.0%, up from its previous outlook of 7.4% and 7.6%. Using the midpoint of the full-year guidance, the company expects that TTEC Digital's margin will be 13.4% of revenue and TTEC Engage's margin to be 6.6% of revenue.

Full-year adjusted EBITDA margins are projected to be in the range of 12.8% to 13.0%, compared with the previous guidance of 12.6% to 12.8%. Using the midpoint of the full-year guidance, the company estimates that TTEC Digital's margin will be 18.5% of revenue, while TTEC Engage's margin will be 11.7% of revenue.

Using the midpoint of the full-year guidance, TTEC Holdings expects approximately 28% of revenue, 37% of operating income and 32% of adjusted EBITDA to be recognized in the fourth quarter.

TTEC Holdings still estimates capital expenditures for the full year to be in the range of 3.8% to 4.0% of revenue, of which 65% is growth oriented. Effective tax rate for the full year is estimated to be between 25% and 27%.

The company reported non-GAAP net income of $15.8 million, or 34 cents per share, for the three months ended June 30, compared with $10.3 million, or 22 cents per share, in the year-ago period.