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Jul 03, 2020
Exponent Q2 2020 Earnings Report
Reported a decrease in net revenues but maintained financial strength.
Key Takeaways
Exponent, Inc. reported a 12% decrease in net revenues for the second quarter of 2020, while maintaining a strong financial position with $190 million in cash, cash equivalents, and short-term investments and no debt. The company's interdisciplinary solutions remain in demand, particularly in areas related to safety, health, sustainability, and reliability.
Net revenues declined by 12% compared to the same period last year.
Net income decreased to $16.3 million, or $0.31 per diluted share.
Ended the quarter with $190 million in cash, cash equivalents and short-term investments and no debt.
The most substantial impact occurred to our litigation support work for the transportation industry, with most assignments paused due to court-related delays.
Exponent
Exponent
Exponent Revenue by Segment
Revenue by Segment
Engineering & Other Scientific Revenue
CapyFin.comEnvironmental & Health Revenue
CapyFin.com Forward Guidance
Due to the high degree of uncertainty surrounding how and over what timeframe each region will impose or relax restrictions means that there could be further reduction to our revenues in the short term. Therefore, we cannot reliably provide financial guidance at this time
Challenges Ahead
- Net revenues for the first three weeks of the third quarter declined approximately 5% to 8% year-over-year.
- High degree of uncertainty surrounding how and over what timeframe each region will impose or relax restrictions means that there could be further reduction to our revenues in the short term.
- Cannot reliably provide financial guidance at this time.