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Apr 01, 2023
CRA Q1 2023 Earnings Report
CRA reported highest quarterly revenue in its history, driven by Legal & Regulatory offerings, and reaffirmed annual guidance.
Key Takeaways
Charles River Associates (CRA) announced financial results for the first quarter ended April 1, 2023, reporting the highest quarterly revenue in the company's history at $152.8 million, a 3.0% increase year over year. The growth was primarily driven by the Legal & Regulatory offerings. The company reaffirmed its full-year fiscal 2023 financial guidance.
Revenue grew 3.0% year over year to $152.8 million.
International operations expanded, growing 8.8% year over year.
Earnings per diluted share decreased 19.1% year over year to $1.23.
CRA reaffirmed its financial guidance for full-year fiscal 2023.
Forward Guidance
CRA reaffirmed its financial guidance for full-year fiscal 2023, expecting revenue in the range of $615.0 million to $640.0 million and non-GAAP EBITDA margin in the range of 10.8% to 11.5% on a constant-currency basis relative to fiscal 2022.
Positive Outlook
- Revenue expected in the range of $615.0 million to $640.0 million.
- Non-GAAP EBITDA margin expected in the range of 10.8% to 11.5%.
- Guidance provided on a constant-currency basis relative to fiscal 2022.
- Company pleased with CRA’s performance to begin the year.
- CRA reported year-over-year revenue growth of 5.1% and non-GAAP EBITDA margin of 11.4%.
Challenges Ahead
- Uncertainties around global economic conditions.
- Uncertainties around business conditions.
- Uncertainties around health conditions.
- Uncertainties around political conditions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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