Resources Connection Swings to 2Q Loss

Dow Jones

Jan 03, 2025

By Sabela Ojea

Resources Connection swung to a loss in the latest quarter, citing declining demand from on-demand clients.

The professional services firm on Thursday posted a net loss for the fiscal second quarter ended Nov. 23 of $68.7 million, or $2.08 a share, compared with a profit of $4.9 million, or 14 cents a share, for the same period a year earlier.

Analysts polled by FactSet had forecast a quarterly loss of 6 cents a share.

Stripping out one-time items, the company's earnings per share came in at 18 cents.

Revenue fell 11% to $145.6 million, beating the $137 million expected by analysts.

"Based on pipeline activities and client dialogue this quarter, we are cautiously optimistic the new calendar year will bring a stronger demand environment and are confident in our strategic vision as reflected by the Board's additional share repurchase authorization," Chief Executive Kate Duchene said.

The company's latest earnings come about a month after it said it is planning to slash jobs to save on costs and streamline its operations. The layoffs are expected to be completed by the third quarter of fiscal 2025.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

January 02, 2025 16:29 ET (21:29 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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The layoffs are expected to be completed by the third quarter of fiscal 2025. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 02, 2025 16:29 ET (21:29 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RGP","symbol_name":"Resources Global Professionals","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2500492902","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2500492902","pubTimestamp":1735853340,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Resources Connection swung to a loss in the latest quarter, citing declining demand from on-demand clients.The professional services firm on Thursday posted a net loss for the fiscal second quarter ended Nov. 23 of $68.7 million, or $2.08 a share, compared with a profit of $4.9 million, or 14 cents a share, for the same period a year earlier.Analysts polled by FactSet had forecast a quarterly loss of 6 cents a share.Stripping out one-time items, the company's earnings per share came in at 18 cents.Revenue fell 11% to $145.6 million, beating the $137 million expected by analysts.\"Based on pipeline activities and client dialogue this quarter, we are cautiously optimistic the new calendar year will bring a stronger demand environment and are confident in our strategic vision as reflected by the Board's additional share repurchase authorization,\" Chief Executive Kate Duchene said.The company's latest earnings come about a month after it said it is planning to slash jobs to save on costs an","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"RGP":"Resources Global Professionals","BK4123":"调查和咨询服务"},"translate_title":"Resources Connection第二季度亏损","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RGP":0.9},"content_text":"By Sabela Ojea \n\n\n \n\n\n  Resources Connection swung to a loss in the latest quarter, citing declining demand from on-demand clients. \n\n\n  The professional services firm on Thursday posted a net loss for the fiscal second quarter ended Nov. 23 of $68.7 million, or $2.08 a share, compared with a profit of $4.9 million, or 14 cents a share, for the same period a year earlier. \n\n\n  Analysts polled by FactSet had forecast a quarterly loss of 6 cents a share. \n\n\n  Stripping out one-time items, the company's earnings per share came in at 18 cents. \n\n\n  Revenue fell 11% to $145.6 million, beating the $137 million expected by analysts. \n\n\n  \"Based on pipeline activities and client dialogue this quarter, we are cautiously optimistic the new calendar year will bring a stronger demand environment and are confident in our strategic vision as reflected by the Board's additional share repurchase authorization,\" Chief Executive Kate Duchene said. \n\n\n  The company's latest earnings come about a month after it said it is planning to slash jobs to save on costs and streamline its operations. The layoffs are expected to be completed by the third quarter of fiscal 2025. \n\n\n \n\n\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 02, 2025 16:29 ET (21:29 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}