CRA International, Inc. CRAI reported impressive third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The stock has risen 9.6% since the earnings release in response to the better-than-expected results and strong guidance.

CRAI reaffirmed its 2024 constant currency revenue guidance range to $670 million-$685 million in the third quarter of 2024. The guidance range's midpoint ($677.5 million) is higher than the current Zacks Consensus Estimate of $676.2 million. The company continues to expect a non-GAAP EBITDA margin in the range of 12.2%-13%.

Quarterly adjusted EPS came in at $1.77, which surpassed the Zacks Consensus Estimate by 12% and increased 56.6% year over year. Revenues of $167.7 million beat the consensus mark by a slight margin and increased 13.7% from the year-ago quarter.

Charles River Associates Price, Consensus and EPS Surprise

Charles River Associates price-consensus-eps-surprise-chart | Charles River Associates Quote

CRAI: Other Quarterly Details

The company delivered 76% utilization, while the headcount was down 3.6% year over year. Non-GAAP EBITDA increased 54.8% year over year to $21.3 million. The non-GAAP EBITDA margin improved 340 basis points year over year to 12.7%, in line with our estimate.

The company exited the quarter with a cash and cash equivalents balance of $24.5 million compared with $24.6 million witnessed at the end of the prior quarter. It generated $31.6 million of cash from operating activities, and capex was $3 million. In the quarter, Charles River paid out $2.9 million in dividends.

Currently, Charles River carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Earnings Snapshots

Omnicom OMC reported impressive third-quarter 2024 results, wherein earnings and revenues beat the Zacks Consensus Estimate.

OMC’s earnings of $2 per share beat the consensus estimate by 3.1% and increased 9.1% year over year. Total revenues of $3.9 billion surpassed the consensus estimate by 2.3% and increased 8.5% year over year.

Equifax EFX reported mixed third-quarter 2024 results, wherein earnings surpassed the Zacks Consensus Estimate, while revenues missed the same.

EFX’s adjusted earnings were $1.8 per share, beating the Zacks Consensus Estimate by a slight margin and increasing by 5.1% from the year-ago quarter’s actual. Total revenues of $1.4 billion missed the consensus estimate by a slight margin but increased 9.3% from the year-ago quarter.

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