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Dec 29, 2023
Exponent Q4 2023 Earnings Report
Exponent's Q4 2023 financial results were reported, revealing a mix of challenges and growth opportunities.
Key Takeaways
Exponent's Q4 2023 total revenues decreased by 3.5% to $122.9 million compared to Q4 2022. Revenues before reimbursements increased slightly by 1.1% to $113.9 million. Net income decreased to $20.9 million, or $0.41 per diluted share. The company faces headwinds in the consumer electronics sector and macroeconomic uncertainty impacting litigation and proactive work.
Total revenues decreased by 3.5% in Q4 2023, reaching $122.9 million.
Revenues before reimbursements increased by 1.1% to $113.9 million.
Net income decreased to $20.9 million, with EPS at $0.41 per diluted share.
The engineering and other scientific segment saw a 2% increase in revenues before reimbursements.
Revenue by Segment
Forward Guidance
Exponent anticipates revenue before reimbursements to be flat to down modestly in 2024 due to a challenging comparison in the reactive business, headwinds in the consumer electronics industry, and macro-related uncertainty.
Positive Outlook
- Long-term growth trajectory of the business remains strong.
- Board of Directors approved an increase in the quarterly dividend.
- Share repurchase authorization increased.
- Fundamental market drivers remain strong.
- Focus on expanding competitive advantages and developing talent.
Challenges Ahead
- Challenging comparison in the reactive business.
- Ongoing headwinds in the consumer electronics industry.
- Macro-related uncertainty.
- Expect revenue before reimbursements to be flat to down modestly in 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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