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Exponent Q1 2025 Earnings Report
Exponent reported its financial results for the first quarter of fiscal year 2025.
Key Takeaways
Exponent's first quarter results exceeded expectations, with total revenues and revenues before reimbursements remaining approximately flat compared to the prior year. Net income and EBITDA decreased, while the company maintained its full-year guidance despite facing headwinds in the second quarter.
Total revenues and revenues before reimbursements were approximately flat at $145.5 million and $137.4 million, respectively, compared to Q1 2024.
Net income decreased to $26.7 million, or $0.52 per diluted share, from $30.1 million, or $0.59 per diluted share, in Q1 2024.
EBITDA decreased to $37.5 million, or 27.3% of net revenues, compared to $40.1 million, or 29.2% of net revenues, in Q1 2024.
The company paid $16.4 million in dividends and ended the period with $245.1 million in cash and cash equivalents.
Revenue by Segment
Forward Guidance
For the second quarter of fiscal 2025, Exponent anticipates revenues before reimbursements to be down in the low-single digits and EBITDA to be between 26.0% and 27.0% of revenues before reimbursements. For the full fiscal year 2025, the company expects revenues before reimbursements to grow in the low-single digits and EBITDA to be between 26.25% and 27.0% of revenues before reimbursements.
Positive Outlook
- Continued expectation for growth in 2025.
- Maintaining full-year guidance.
- Resilience in navigating challenging economic cycles.
- Unparalleled and interconnected ecosystem of talent.
- Diversified portfolio of services.
Challenges Ahead
- Revenues before reimbursements expected to be down in low-single digits for Q2 2025.
- Facing headwinds in the second quarter due to year-over-year headcount gap.
- Fiscal year 2025 is a 52-week year, posing a headwind for full-year comparisons as fiscal 2024 benefited from a 53rd week.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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