EPAM Systems, Inc. (NYSE:EPAM) Q3 2023 Earnings Conference Call November 2, 2023 8:00 AM ET

Company Participants

David Straube - Head, Investor Relations

Arkadiy Dobkin - President & Chief Executive Officer

Jason Peterson - Chief Financial Officer

Conference Call Participants

Bryan Bergin - TD Cowen

Moshe Katri - Wedbush Securities

Ashwin Shirvaikar - Citigroup

David Grossman - Stifel

Ramsey El-Assal - Barclays

Jason Kupferberg - Bank of America

Jamie Friedman - Susquehanna

James Faucette - Morgan Stanley

Puneet Jain - JPMorgan

Operator

Hello, and thank you for standing by. My name is Regina and I will be your conference operator today. At this time, I would like to welcome everyone to EPAM's Third Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks there will be a question-and-answer session. [Operator Instructions]

I'd now like to turn the conference over to David Straube, Head of Investor Relations. Please go ahead.

David Straube

Thank you, operator, and good morning, everyone. By now you should have received your copy of the earnings release for the company's third quarter 2023 results. If you have not, copy is available on epam.com in the Investors section. With me on today's call are Arkadiy Dobkin, CEO and President; and Jason Peterson Chief Financial Officer.

I would like to remind those listening that some of the comments made on today's call may contain forward-looking statements. These statements are subject to risks and uncertainties as described in the company's earnings release and SEC filings. Additionally all references to reported results that are non-GAAP measures have been reconciled to the comparable GAAP measures and are available in our quarterly earnings materials located in the Investors section of our website.

With that said, I'll now turn the call over to Ark.

Arkadiy Dobkin

Thank you, David, and good morning everyone. Before I get into results of our third quarter, I would like to recap what was certain in regards to our expectations for Q3 and full year outlook three months ago during our last call. We stated that while the current business environment is more focused on cost optimization versus our differentiated build and deploy [Indiscernible].

We do believe the demand for transformation services will come back under the services market. You'll be moving from core IT to accelerated digitization to reinvent into our business models and ways of working with generative AI as the core of the transformation. And that we expect this new demand to be underpinned and even more driven exactly by our traditionally strong product platform engineering, data analytics and AI ML capabilities.