Aug 28, 2021

Resources Connection Q1 2022 Earnings Report

Reported strongest first quarter revenue and margin performance in more than ten years.

Key Takeaways

Resources Connection, Inc. reported strong financial results for Q1 2022, with revenue of $183.1 million, a 24.3% increase compared to Q1 2021. Net income increased to $12.9 million, and diluted earnings per share grew to $0.39.

Revenue of $183.1 million, an increase of 24.3% compared to first quarter fiscal 2021.

Net income grew to $12.9 million, compared to $2.3 million in first quarter fiscal 2021.

Diluted earnings per common share grew to $0.39 compared to $0.07 in first quarter fiscal 2021.

Adjusted diluted earnings per common share improved to $0.43 compared to $0.14 in first quarter fiscal 2021.

Total Revenue
$183M
Previous year: $147M
+24.3%
EPS
$0.43
Previous year: $0.14
+207.1%
Consultant Headcount
3.14K
Average Bill Rate
$126
Previous year: $124
+1.6%
Average Pay Rate
$63
Previous year: $62
+1.6%
Gross Profit
$71.4M
Previous year: $57.9M
+23.4%
Cash and Equivalents
$61.9M
Previous year: $115M
-46.0%
Free Cash Flow
-$557K
Previous year: $18.3M
-103.0%
Total Assets
$515M
Previous year: $529M
-2.7%

Resources Connection

Resources Connection

Resources Connection Revenue by Geographic Location

Revenue & Expenses

Visualization of income flow from segment revenue to net income