The Hackett Group Reports Strong Q3 2024 Results

The Hackett ( (HCKT) ) has released its Q3 earnings. Here is a breakdown of the information The Hackett presented to its investors.

The Hackett Group, Inc. is an intellectual property and platform-based company specializing in generative AI strategic consulting and executive advisory services, aimed at achieving digital world-class performance for its clients. In its recent third-quarter earnings report for 2024, The Hackett Group reported revenues surpassing its guidance expectations, alongside strategic advancements in AI capabilities.

Key financial metrics highlighted in the report include a total revenue of $79.8 million for the third quarter of 2024, a notable increase from $75.9 million in the same period the previous year. Despite this revenue growth, GAAP diluted earnings per share saw a decrease from $0.34 in the third quarter of 2023 to $0.31 in 2024, attributed to non-cash stock compensation expenses related to a new equity program. However, adjusted diluted earnings per share increased to $0.43, outperforming the company’s guidance. Additionally, the company expanded its share repurchase program and declared a quarterly dividend of $0.11 per share.

Strategically, The Hackett Group unveiled the AI XPLR version 2 and completed the acquisition of LeewayHertz, enhancing its capabilities in generative AI consulting and implementation. This acquisition positions the company to offer end-to-end solutions for clients’ generative AI needs, potentially driving growth in this rapidly emerging sector.

Looking ahead, The Hackett Group projects fourth-quarter revenue to range between $73.5 million and $75.0 million, with adjusted diluted earnings per share expected to be between $0.41 and $0.43. The company’s management remains optimistic about leveraging its advanced AI capabilities and strategic acquisitions to foster growth and sustain its competitive edge in the consulting industry.