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Jun 28, 2024
Exponent Q2 2024 Earnings Report
Exponent's financial performance reflected efforts to align the operating model with market demand, resulting in net income growth and expanded EBITDA margin.
Key Takeaways
Exponent reported flat total revenues, a 2% increase in revenues before reimbursements, and a 14% increase in net income for Q2 2024. Growth was driven by demand across the transportation, utilities, and medical device sectors, while facing headwinds in the consumer electronics and chemicals sectors.
Total revenues were approximately flat at $140.5 million, while revenues before reimbursements increased 2% to $132.4 million.
Net income increased to $29.2 million, or $0.57 per diluted share.
EBITDA increased to $39.9 million, representing 30.2% of revenues before reimbursements.
The engineering and other scientific segment saw a 4% increase in revenues before reimbursements.
Exponent
Exponent
Forward Guidance
Exponent is raising full year revenue and margin guidance, which includes the impact of an additional week in the fourth quarter of fiscal 2024.