Hackett Q3 2024 Earnings Report
Key Takeaways
The Hackett Group reported solid operating results for Q3 2024, exceeding revenue and EPS guidance. The company's strategic move to acquire LeewayHertz, a Gen AI consulting and implementation firm, positions them to capitalize on the rapidly emerging Gen AI sector.
Total revenue reached $79.8 million, with revenue before reimbursements at $77.9 million, surpassing the high end of guidance.
GAAP diluted earnings per share were $0.31, compared to $0.34 in Q3 2023, impacted by non-cash stock compensation expenses.
Adjusted diluted earnings per share, a non-GAAP measure, was $0.43, exceeding the high end of guidance, compared to $0.41 in Q3 2023.
The Board of Directors approved an additional $20.0 million for the share repurchase program, increasing authorization to $31.1 million, and declared a fourth quarter dividend of $0.11 per share.
Hackett
Hackett
Forward Guidance
The Company estimates total revenue before reimbursements for the fourth quarter of 2024 will be in the range of $73.5 million to $75.0 million. The Company estimates adjusted diluted earnings per share for the fourth quarter of 2024 to be in the range of $0.41 and $0.43, which assumes a GAAP effective tax rate of 27.6%.
Positive Outlook
- Total revenue before reimbursements for Q4 2024 is estimated between $73.5 million and $75.0 million.
- Adjusted diluted earnings per share for Q4 2024 are projected to be between $0.41 and $0.43.
- Guidance assumes a GAAP effective tax rate of 27.6%.