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Jun 29, 2024
CRA Q2 2024 Earnings Report
CRA's Q2 2024 financial results were released, showing revenue growth and increased financial guidance.
Key Takeaways
Charles River Associates (CRA) reported a 5.9% year-over-year increase in revenue for the second quarter of 2024, reaching $171.4 million. The company's strong performance has led to raised revenue and profit guidance for the full-year fiscal 2024. Net income decreased by 31.2% year over year to $6.5 million, while non-GAAP net income increased by 26.4% year over year to $12.7 million.
Revenue increased by 5.9% year over year to $171.4 million.
Net income decreased 31.2% year over year to $6.5 million, or 3.8% of revenue.
Non-GAAP net income increased 26.4% year over year to $12.7 million, or 7.4% of revenue.
The company raises both revenue and profit guidance for full-year fiscal 2024.
Forward Guidance
For full-year fiscal 2024, on a constant currency basis relative to fiscal 2023, CRA expects revenue in the range of $670.0 million to $685.0 million and non-GAAP EBITDA margin in the range of 12.2% to 13.0%.
Positive Outlook
- Revenue is expected to be in the range of $670.0 million to $685.0 million.
- Non-GAAP EBITDA margin is expected to be in the range of 12.2% to 13.0%.
- Reflects the strong start to the year.
- Increased revenue guidance.
- Increased profit guidance.
Challenges Ahead
- Uncertainties around global economic conditions.
- Uncertainties around business conditions.
- Uncertainties around health conditions.
- Uncertainties around geopolitical conditions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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