EPAM Systems, Inc. · EPAM · Next earnings

EPAM Systems, Inc. reports Thursday, Nov 5, 2026

EPAM reports before market open with consensus EPS at $3.41 and revenue at $1.42B. Last quarter: EPAM Beats Q1 on AI Strength but Lowers Full-Year Revenue Guidance

Reports Before market open46 days awayDate estimated Technology

What the street expects

Consensus for the coming report
Consensus EPS $3.41 Calendar consensus
Consensus revenue $1.42B Calendar consensus
Report date Nov 5, 2026 Thursday, date estimated
Session Before market open 46 days away

Where EPAM left off: FY2026 Q1

Full report

EPAM Beats Q1 on AI Strength but Lowers Full-Year Revenue Guidance

EPS surprise +4.0% Reported $2.86 vs $2.75
Revenue surprise +0.4% Reported $1.40B vs $1.39B
Stock move -2.6% Event window
Subsequent drift -5.9% Up to 20 sessions

Prior 2026 outlook: 4.5-7.5% revenue growth (organic 3-6%), sentiment maintained. Updated 2026 outlook: 4-6.5% revenue growth, sentiment lowered. Midpoint reduced from ~6.0% to ~5.3%, citing macro uncertainty, higher energy prices, and weaker North America demand. Despite the cut, management emphasized a strong pipeline of large AI-enabled vendor consolidation deals for H2.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Macroeconomic uncertainty and higher energy prices pressuring client IT spending
  • Delayed decision-making in North America reducing near-term revenue visibility
  • Complexity of token-based pricing economics for AI model usage
  • Over-reliance on large, still-unsecured AI vendor-consolidation deals for H2 recovery
  • Guidance cut signals execution risk on the full-year AI revenue target of >$600M

Questions analysts left open

  • Impact of lowered guidance and macro volatility on full-year performance
  • Timing and conversion risk of large AI-enabled vendor consolidation deals in H2
  • Revenue contribution details from the Anthropic partnership
  • Contract pricing model changes related to AI token usage economics
  • Capital allocation priorities between share buybacks and potential acquisitions

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Recent EPAM quarters

All EPAM earnings
-2.6%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.