Filing Flows › Epam Systems (EPAM) › Guidance history
Epam Systems (EPAM) guidance history: what it guided and what it reported
Epam Systems gave guidance in 12 earnings releases on file since Feb 15, 2024. Of 18 guided periods since reported, it met or beat its own guidance 12 times (67%). Revenue: 9 of 9, on average +1.0% against the guided midpoint. Its releases raised guidance 5 times and lowered it once.
Revenue
Met or beat 9 of 9 periods (7 above, 2 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 2026 | $1.4B–$1.4B (Nov 5, 2026) | — | to be reported | — |
| Q3 2026 | $1.4B–$1.4B (Aug 6, 2026) | $1.4B | above the range | +0.6% |
| Q2 2026 | $1.4B–$1.4B (May 7, 2026) | $1.4B | within the range | +0.5% |
| Q1 2026 | $1.4B–$1.4B (Feb 19, 2026) | $1.4B | within the range | +0.5% |
| Q4 2025 | $1.4B–$1.4B (Nov 6, 2025) | $1.4B | above the range | +1.4% |
| FY2025 | $5.4B–$5.4B (Nov 6, 2025) | $5.5B | above the range | +0.4% |
| Q3 2025 | $1.4B–$1.4B (Aug 7, 2025) | $1.4B | above the range | +1.6% |
| Q2 2025 | $1.3B–$1.3B (May 8, 2025) | $1.4B | above the range | +1.6% |
| Q1 2025 | $1.3B–$1.3B (Feb 20, 2025) | $1.3B | above the range | +1.5% |
| FY2024 | $4.6B–$4.7B (May 9, 2024) → lowered $4.6B–$4.6B (Aug 8, 2024) → raised $4.7B–$4.7B (Nov 7, 2024) | $4.7B | above the range | +0.8% |
GAAP tax rate
Met or beat 3 of 9 periods (6 above, 2 within, 1 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 2026 | 26.0% (Nov 5, 2026) | — | to be reported | — |
| Q3 2026 | 25.0% (Aug 6, 2026) | 26.1% | above the range | +1.1 pts |
| Q2 2026 | 27.0% (May 7, 2026) | 26.7% | within the range | -0.3 pts |
| Q1 2026 | 30.0% (Feb 19, 2026) | 31.6% | above the range | +1.6 pts |
| FY2026 | 26.0% (Feb 19, 2026) → raised 27.0% (May 7, 2026) → reaffirmed 27.0% (Aug 6, 2026) → reaffirmed 27.0% (Nov 5, 2026) | — | to be reported | — |
| Q4 2025 | 24.0% (Nov 6, 2025) | 24.0% | within the range | -0.0 pts |
| FY2025 | 25.0% (May 8, 2025) → raised 26.0% (Aug 7, 2025) → lowered 25.0% (Nov 6, 2025) | 25.3% | above the range | +0.3 pts |
| Q3 2025 | 25.0% (Aug 7, 2025) | 25.6% | above the range | +0.6 pts |
| Q2 2025 | 26.0% (May 8, 2025) | 28.9% | above the range | +2.9 pts |
| Q1 2025 | 19.0% (Feb 20, 2025) | 22.2% | above the range | +3.2 pts |
Adjusted tax rate
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 2026 | 24.0% (Nov 5, 2026) | — | to be reported | — |
| Q3 2026 | 24.0% (Aug 6, 2026) | — | — | — |
| Q2 2026 | 24.0% (May 7, 2026) | — | — | — |
| Q1 2026 | 24.0% (Feb 19, 2026) | — | — | — |
| FY2026 | 24.0% (Feb 19, 2026) → reaffirmed 24.0% (May 7, 2026) → reaffirmed 24.0% (Aug 6, 2026) → reaffirmed 24.0% (Nov 5, 2026) | — | to be reported | — |
| Q4 2025 | 23.0% (Nov 6, 2025) | — | — | — |
| Q3 2025 | 24.0% (Aug 7, 2025) | — | — | — |
| Q2 2025 | 24.0% (May 8, 2025) | — | — | — |
| Q1 2025 | 24.0% (Feb 20, 2025) | — | — | — |
| FY2025 | 24.0% (Feb 20, 2025) → reaffirmed 24.0% (May 8, 2025) → reaffirmed 24.0% (Aug 7, 2025) → reaffirmed 24.0% (Nov 6, 2025) | — | — | — |
GAAP EPS
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 2026 | $2.43–$2.51 (Nov 5, 2026) | — | to be reported | — |
| Q3 2026 | $2.33–$2.41 (Aug 6, 2026) | — | — | — |
| Q2 2026 | $1.79–$1.87 (May 7, 2026) | — | — | — |
| Q1 2026 | $1.32–$1.40 (Feb 19, 2026) | — | — | — |
| FY2026 | $7.95–$8.25 (Feb 19, 2026) → raised $8.29–$8.59 (May 7, 2026) → lowered $8.22–$8.38 (Aug 6, 2026) → raised $8.41–$8.49 (Nov 5, 2026) | — | to be reported | — |
| Q4 2025 | $2.00–$2.08 (Nov 6, 2025) | — | — | — |
| Q3 2025 | $1.89–$1.97 (Aug 7, 2025) | — | — | — |
| Q2 2025 | $1.67–$1.75 (May 8, 2025) | — | — | — |
| Q1 2025 | $1.27–$1.37 (Feb 20, 2025) | — | — | — |
| FY2025 | $6.78–$7.08 (Feb 20, 2025) → lowered $6.78–$7.03 (May 8, 2025) → lowered $6.48–$6.64 (Aug 7, 2025) → raised $6.75–$6.83 (Nov 6, 2025) | — | — | — |
Adjusted EPS
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 2026 | $3.50–$3.58 (Nov 5, 2026) | — | to be reported | — |
| Q3 2026 | $3.38–$3.46 (Aug 6, 2026) | — | — | — |
| Q2 2026 | $3.10–$3.18 (May 7, 2026) | — | — | — |
| Q1 2026 | $2.70–$2.78 (Feb 19, 2026) | — | — | — |
| FY2026 | $12.60–$12.90 (Feb 19, 2026) → raised $12.98–$13.28 (May 7, 2026) → raised $13.08–$13.24 (Aug 6, 2026) → raised $13.23–$13.31 (Nov 5, 2026) | — | to be reported | — |
| Q4 2025 | $3.10–$3.18 (Nov 6, 2025) | — | — | — |
| Q3 2025 | $2.98–$3.06 (Aug 7, 2025) | — | — | — |
| Q2 2025 | $2.56–$2.64 (May 8, 2025) | — | — | — |
| Q1 2025 | $2.22–$2.32 (Feb 20, 2025) | — | — | — |
| FY2025 | $10.45–$10.75 (Feb 20, 2025) → raised $10.70–$10.95 (May 8, 2025) → raised $10.96–$11.12 (Aug 7, 2025) → raised $11.36–$11.44 (Nov 6, 2025) | — | — | — |
The latest quarter
Epam Systems, Q3 2026: revenue $1.4B (+2% year over year), operating margin 12.3%, net earnings $130M, operating cash flow $289M. The chart follows the revenue to costs, profit and cash.
Questions
Does Epam Systems beat its guidance?
Epam Systems gave guidance in 12 earnings releases on file since Feb 15, 2024. Of 18 guided periods since reported, it met or beat its own guidance 12 times (67%). Revenue: 9 of 9, on average +1.0% against the guided midpoint.
How often does Epam Systems raise guidance?
Its earnings releases raised guidance 5 times and lowered it once since Feb 15, 2024.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.