WNS Tops Q3 Consensus; Lifts FY22 Outlook

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  • WNS (Holdings) Ltd WNS reported third-quarter FY21 revenue growth of 19.2% year-on-year to $284.1 million.
  • Revenue less repair payments were $261.2 million, up 16.3% Y/Y, beating the consensus of $255.7 million.
  • New client additions, expanding existing relationships, increased travel volumes, and currency movements net of hedging drove the growth. 
  • WNS added 11 new clients in the quarter and expanded 26 existing relationships.
  • WNS maintained adjusted operating margins above 21%.
  • Adjusted earnings per ADS of $0.88 beat the consensus of $0.83.
  • WNS held $372.1 million in cash and investments and generated $56.9 million in operating cash flow.
  • Outlook: WNS raised FY22 Revenue less repair payments outlook from $0.984 billion - $1.016 billion to $1.008 billion - $1.022 billion versus the consensus of $1.01 billion.
  • WNS lifted FY22 adjusted earnings per ADS guidance from $3.18 - $3.34 to $3.30 - $3.38 versus the consensus of $3.32.
  • Price Action: WNS shares closed lower by 3.86% at $87.22 on Wednesday.
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