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Dec 31, 2022
CRA Q4 2022 Earnings Report
Reported record revenue and profits driven by broad-based contributions.
Key Takeaways
Charles River Associates (CRA) reported a 7.6% increase in revenue compared to Q4 2021, reaching $145.0 million, with growth across its portfolio and balanced contributions from North American and international operations. Net income increased slightly to $8.7 million, with earnings per diluted share rising to $1.19.
Revenue grew 7.6% year over year to $145.0 million.
Utilization was 74%, and quarter-end headcount increased 9.1% year over year.
Net income increased 0.1% year over year to $8.7 million.
Earnings per diluted share increased 4.4% year over year to $1.19.
Forward Guidance
For full-year fiscal 2023, on a constant currency basis relative to fiscal 2022, we expect revenue in the range of $615 million to $640 million, and non-GAAP EBITDA margin in the range of 10.8% to 11.5%.
Positive Outlook
- Expect revenue in the range of $615 million to $640 million.
- Expect non-GAAP EBITDA margin in the range of 10.8% to 11.5%.
- Confident we can maintain our current momentum.
- Pleased with CRA’s strong performance in 2022.
- Modify our presentation of non-GAAP EBITDA to exclude non-operating foreign currency gains and losses related to foreign denominated transactions and the revaluation of working capital balances.
Challenges Ahead
- Uncertain global macroeconomic conditions can affect our business.
- Uncertain business conditions can affect our business.
- Uncertain public health conditions can affect our business.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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