IBEX Limited Shares Surge 8% Following Q1 Report

IBEX Limited (NASDAQ:IBEX) shares gained more than 8% on Wednesday following the company’s reported Q1 results, with $128 million/$0.34 in revenue/adjusted EPS coming in better than the Street estimates of $126 million/$0.28.

Revenue growth was 17.8% year-over-year, accelerating from the previous quarter’s 13.6%, while management reiterated 2023 revenue growth guidance at the midpoint of 11.4% as the company’s positive revenue mix shift continues. 2023 organic revenue is expected to be $545-$555 million. Adjusted EBITDA is expected to be in the range of $77-$79 million.

Incorporating the quarter and unchanged guidance, analysts at RBC Capital adjusted their 2023 revenue/adjusted EBITDA estimates to $551 million/$78.5 million from $550 million/$78 million, respectively.