Oct 29, 6:39 AM ET
Cognizant reported third-quarter 2026 revenue of $5.7 billion, up 4.6% year over year, and GAAP diluted EPS of $1.39 versus $0.56 a year earlier, which included a one-time tax charge. The company revised its 2026 constant currency revenue growth guidance to 4.0% to 4.4% and its adjusted diluted EPS guidance to $5.72 to $5.79, while Project Leap costs are now estimated at $180 million to $250 million, and third-quarter bookings fell 7%.
- Q3 2026 revenue of $5,664 million, up 4.6% year over year (4.8% in constant currency); GAAP operating margin 15.4%, down 60 basis points
- Adjusted diluted EPS of $1.49, up 7.2%; adjusted operating margin 16.3%, up 30 basis points
- 2026 adjusted diluted EPS guidance revised to $5.72 to $5.79, growth of 8% to 10%; full-year reported revenue expected at $22.05 billion to $22.14 billion
- Project Leap total costs now estimated at $180 million to $250 million; Q3 bookings declined 7%, trailing-twelve-month bookings rose 4% to $28.7 billion
Read the filing on SEC.gov ↗
Oct 6, 4:32 PM ET
On October 5, 2026, Cognizant and its subsidiary Cognizant Worldwide Limited signed a new unsecured credit agreement with JPMorgan Chase Bank, N.A. as administrative agent, replacing the company's existing credit facilities. The company borrowed approximately $1.0 billion under the new revolver, and the facilities mature on October 3, 2031, so shareholders should note the higher debt load and the leverage covenant that applies.
- Term loan facility of $550 million and revolving credit facility of $1.85 billion, both maturing October 3, 2031
- Term loan proceeds repaid the existing term loan, and about $1.0 billion borrowed under the revolver repaid the existing revolver
- Financial covenant caps the Leverage Ratio at 3.50:1.00, or 4.00:1.00 for up to four quarters after certain material acquisitions
- Borrowers may request an increase of up to $1.2 billion plus voluntary prepayments, subject to conditions
Read the filing on SEC.gov ↗
Jul 29, 6:35 AM ET
Cognizant reported second-quarter 2026 revenue of $5.5 billion, up 4.5% year over year, with GAAP diluted EPS of $1.36 and adjusted diluted EPS of $1.37, up 4.6%. The company raised its full-year 2026 adjusted diluted EPS guidance to $5.70 to $5.82, while Q2 bookings fell 6% year over year and the company repurchased $1.153 billion of shares in the quarter.
- Q2 revenue of $5.5 billion rose 4.5% year over year, or 4.1% in constant currency
- GAAP diluted EPS of $1.36 rose 3.8%; adjusted diluted EPS of $1.37 rose 4.6%
- 2026 adjusted diluted EPS guidance raised to $5.70 to $5.82, growth of 8% to 10%
- Q2 bookings declined 6% year over year; trailing 12-month bookings rose 5% to $29.1 billion
Read the filing on SEC.gov ↗
Apr 29, 6:49 AM ET
Cognizant reported first-quarter 2026 revenue of $5.4 billion, up 5.8% year-over-year, and GAAP diluted EPS of $1.39, up 3.7%. It raised its 2026 Adjusted Operating Margin guidance to 16.0% to 16.2% while keeping constant currency revenue growth guidance at 4.0% to 6.5%, but also introduced Project Leap, which it expects to cost $230 million to $320 million, mostly in 2026.
- Q1 revenue of $5.4 billion rose 5.8% year-over-year (3.9% in constant currency); GAAP operating margin fell to 15.6% from 16.7%.
- Adjusted diluted EPS was $1.40, up 13.8% from $1.23 a year earlier; GAAP diluted EPS was $1.39 versus $1.34.
- Project Leap is expected to cost $230 million to $320 million, with in-year savings of about $200 million to $300 million in 2026.
- Bookings rose 21% in Q1 with seven large deals; the company repurchased 6.3 million shares for $427 million and declared a $0.33 quarterly dividend.
Read the filing on SEC.gov ↗
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