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Jul 01, 2023
CRA Q2 2023 Earnings Report
CRA delivered record quarterly revenue driven by broad-based contributions across its portfolio and increased profit guidance.
Key Takeaways
Charles River Associates (CRA) reported an 8.6% year-over-year increase in revenue, reaching a record $162.0 million for the second quarter of 2023. The growth was attributed to broad-based contributions across the portfolio, with seven of 11 practices growing year over year. The company also increased its profit guidance and raised the lower end of its revenue guidance for the full year fiscal 2023.
Revenue grew 8.6% year over year to $162.0 million.
Utilization was 72%, and quarter-end headcount increased 12.5% year over year.
Net income decreased 18.3% year over year to $9.5 million.
Non-GAAP earnings per diluted share increased 2.2% year over year to $1.42.
Forward Guidance
For full-year fiscal 2023, on a constant currency basis relative to fiscal 2022, CRA expects revenue in the range of $625.0 million to $640.0 million and non-GAAP EBITDA margin in the range of 11.0% to 11.7%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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