Resources Connection Q4 2021 Earnings Report
Key Takeaways
Resources Connection reported Q4 revenue of $172.3 million, a 10.0% increase sequentially. Net income grew to $23.2 million, or $0.70 diluted earnings per common share, which included a discrete tax benefit of $12.8 million, or $0.39 per diluted common share. Adjusted diluted earnings per common share improved to $0.80.
Revenue up 10.0% sequentially to $172.3 million compared to $156.6 million in the third quarter
Same day constant currency revenue up 4.7% sequentially and 1.2% from the prior year quarter
SG&A expense decreased 18.1% to $50.8 million compared to $62.0 million in the prior year quarter
Adjusted diluted earnings per common share improved to $0.80 compared to $0.33 in the prior year quarter
Resources Connection
Resources Connection
Resources Connection Revenue by Geographic Location
Forward Guidance
Company is starting off the new fiscal year in a position of strength as our pipeline has grown significantly over the past six months, fueled by our clients’ needs for transformational project work and traditional staffing gaps.
Positive Outlook
- Strong top line growth
- Gross margin improvement
- Disciplined cost control
- Expanding Adjusted EBITDA margin by 600 basis points sequentially and 160 basis points year over year
- Starting off the new fiscal year in a position of strength as our pipeline has grown significantly over the past six months
Revenue & Expenses
Visualization of income flow from segment revenue to net income