The following is a summary of the RCM Technologies, Inc. (RCMT) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Consolidated gross profit for Q2 2024 increased by 6.6% year-over-year from $18.8 million to $20.0 million.

• Adjusted EBITDA for Q2 2024 grew by 10.8%, from $6.5 million to $7.2 million.

• Adjusted diluted EPS for Q2 2024 increased by 12.0%, from $0.50 to $0.56.

• Engineering gross profit grew by 23.7%, while Life Sciences Data & Solutions gross profit decreased by 17.9%.

• Healthcare Q2 gross profit grew by 8.6%.

Business Progress:

• Significant expansion in Engineering, especially with Energy Services' revenue and EBITDA exceeding forecasts and expanding in Lat Am and Europe.

• The Healthcare division successfully added many new school districts, improving recruitment and credentialing processes.

• Life Sciences continues to demonstrate growth through solutions integrated approach, including a quality control project in Puerto Rico for a major pharma packaging company.

• Aerospace and Defense experienced mixed results but maintains healthy EBITDA and a continued focus on customer requirements.

Opportunities:

• Continued strong contribution from Engineering along with the increased strength in other divisions expected in the back half of the year.

Risks:

• Life Science commercial practice leads the growth but exhibits variability and dependence on high-margin projects.

More details: RCM Technologies IR

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