Epam Systems sees Q2 EPS $2.21-$2.29, consensus $2.44

Sees Q2 revenue $1.14B-$1.15B, consensus $1.18B. The company said, “The Company expects revenues will be in the range of $1.135 billion to $1.145 billion for the second quarter reflecting a year-over-year decline of 2.6% at the midpoint of the range. The Company expects that revenues on an organic constant currency basis excluding the impact of the exit from Russia will decline approximately 3.0% at the midpoint of the range; For the second quarter, EPAM expects GAAP income from operations to be in the range of 9.0% to 10.0% of revenues and non-GAAP income from operations to be in the range of 13.5% to 14.5% of revenues; The Company expects its GAAP effective tax rate to be approximately 25% and its non-GAAP effective tax rate to be approximately 24%; and EPAM expects GAAP diluted EPS will be in the range of $1.52 to $1.60 for the quarter, and non-GAAP diluted EPS will be in the range of $2.21 to $2.29 for the quarter. The Company expects weighted average diluted shares outstanding for the quarter of 58.8 million.”