TTEC issued a press release, on February 29, 2024, announcing its financial results for fourth quarter and full year 2023. Among other items, TTEC announced non-GAAP earnings per share of $0.37, missing consensus estimates by $0.02. TTEC also cautioned investors that "client budget constraints", the elimination of a TTEC-supported business line at "a long-tenured client", and a "timing lag between our recent wins and normalized revenue run rate and margins" all presented "challenges" impacting the Company's 2024 outlook.
Following this news, TTEC's stock price dropped over 20%, on March 1, 2024.
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