-- 独立系調査会社CFRAは、に対し、以下の調査レポートを提供しました。CFRAのアナリストは、以下のように見解をまとめています。EPAMは第1四半期の売上高が14億ドル（前年同期比8%増）となり、市場予想（13億9,400万ドル）を上回りました。オーガニック成長率は3.7%で、第4四半期の5.6%、第3四半期の7.1%から減速したものの、2025年第1四半期の1.4%からは上昇しました。成長を牽引したのは金融サービス（12%増）とソフトウェア・ハイテク（11%増）で、ビジネス情報・メディア（0.7%減）は市場予想を下回りました。非GAAPベースの1株当たり利益（EPS）は2.86ドル（19%増）で、市場予想（2.75ドル）を上回りました。これは、営業利益率が前年同期比80ベーシスポイント上昇（14.3%）したことと、3億2,400万ドルの自社株買いが貢献したことによるものです。経営陣は、2026年の売上高見通しを従来の6.0%から中間値5.25%に引き下げたが（オーガニックCCは従来の4.5%から3.75%）、収益性の改善と株式数の減少により、EPS見通しを12.59ドルから中間値13.13ドルに引き上げた。売上高見通しの引き下げは弱気派のAI競争への懸念を煽るかもしれないが、我々は下方修正はマクロ経済の不確実性の高まりにより関連していると考えており、継続的な効率性の向上に勇気づけられている。固定価格契約は引き続き増加しており（売上高の21.7%、前年比+260bps）、マージン超過の機会を生み出している。
Related Articles
Australia
Vericel Shares Rise After Q1 Net Loss Narrows, Revenue Rises; 2026 Revenue Guidance Lifted
Vericel (VCEL) shares were up 1.3% in Thursday trading after the company posted a narrower net loss and higher revenue for Q1, and raised its full-year revenue guidance.The company reported Thursday Q1 net loss of $0.12 per diluted share, narrowing from a loss of $0.23 a year earlier.Analysts polled by FactSet expected a loss of $0.15.Revenue for the quarter ended March 31 was $68.4 million, up from $52.6 million a year earlier.Analysts surveyed by FactSet expected $63.7 million.The company said it now expects 2026 total revenue to be between $326 million and $336 million, compared with previous guidance of $316 million to $326 million. Analysts polled by FactSet expect $323.4 million.Price: $37.26, Change: $+0.48, Percent Change: +1.31%
$VCEL
Australia
Liquidity Services Fiscal Q2 Adjusted Earnings, Revenue Increase; Shares Fall
Liquidity Services (LQDT) shares were down nearly 2% in Thursday early trading even after the company reported fiscal Q2 adjusted earnings and revenue that increased year on year and beat analysts' estimates.The company reported fiscal Q2 adjusted earnings of $0.35 per diluted share, up from $0.31 a year earlier.Two analysts polled by FactSet expected $0.30.Revenue for the quarter ended March 31 was $120.7 million, up from $116.4 million a year earlier.One analyst surveyed by FactSet expected $52.9 million.The company expects fiscal Q3 adjusted EPS of $0.30 to $0.39. Two analysts polled by FactSet expect $0.37.Price: $35.83, Change: $-1.39, Percent Change: -3.73%
$LQDT
Research
Research Alert: Grainger Q1 Earnings Jump As Margin Recovery Takes Hold
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:GWW delivered strong Q1 results with EPS of $11.65, up 18.2% Y/Y, significantly beating consensus expectations of $10.21. Sales reached $4.7B with 12.2% organic growth, supported by robust underlying demand across both business segments. The standout metric was 110-bp operating margin expansion to 16.7%, which we view as an inflection point from margin pressures that were a factor for much of 2025, driven by aggressive pricing actions to offset tariff-related cost inflation. Management raised full-year 2026 EPS guidance to $44.25-$46.25 from the previous $42.25-$44.75 range following the uptick in business conditions. Margin recovery was broad-based with High-Touch Solutions North America expanding 20 bps to 42.6% and Endless Assortment growing 40 bps while achieving strong 21.9% sales growth from MonotaRO and Zoro performance. Strong cash generation of $739M supported $345M in shareholder returns and a 10% dividend increase.
$GWW