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Aug 27, 2022
Resources Connection Q1 2023 Earnings Report
Reported highest first quarter revenue and net income margin in more than a decade and record first quarter adjusted EBITDA margin.
Key Takeaways
Resources Connection, Inc. reported strong year-over-year revenue growth in the first quarter of fiscal 2023 with revenue increasing by 11.4% to $204.1 million. Net income increased to $18.1 million, and the company delivered a record first quarter Adjusted EBITDA margin of 15.0%.
Revenue increased 11.4% year over year to $204.1 million
Gross profit expanded to $83.5 million, up 16.8% from the prior year quarter
Diluted earnings per common share rose to $0.53 from $0.39 in the prior year quarter
Adjusted EBITDA increased to $30.7 million with a 280 basis point margin improvement over the prior year quarter to 15.0%
Revenue by Geographic Location
Forward Guidance
The company remains optimistic in its ability to compete and win as its business model attracts in-demand talent who desire more choice, transparency and diversity of experience.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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