Exponent reports Q2 EPS 57c, consensus 50c

Reports Q2 revenue $140.5M, consensus $130.827M…EBITDA increased to $39.9 M, or 30.2% of revenues before reimbursements, in the second quarter of 2024, as compared to $36.8M or 28.4% of revenues before reimbursements in the second quarter of 2023. .”We are pleased with the outcomes of efforts to align our operating model with market demand, evidenced by net income growth of 14% and expanded EBITDA1 margin on a year-over-year basis. As expected, revenue growth moderated during the quarter due to ongoing headwinds in the consumer electronics and chemicals sectors, and an unusually high hurdle for year-over-year comparisons resulting from approximately 20% growth in our prior-year reactive business. Despite these challenges, our reactive business grew in the mid-single digits fueled by demand across the transportation, utilities and medical device sectors,” stated Dr. Catherine Corrigan, President and Chief Executive Officer. “We are encouraged by the market opportunities in this era of accelerating transformation across industries, from groundbreaking technology and data applications in life sciences, to renewables and infrastructure resilience in the energy sector, and electrification and automation of transportation. Exponent remains well positioned to support our clients with vital insights for current challenges, while preparing the path for future innovations,” Dr. Corrigan continued.