The following is a summary of the The Hackett Group, Inc. (HCKT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• The Hackett Group reported total revenues of $77.2 million and revenues before reimbursements of $75.7 million for the Q1 2024, an 8% increase from the prior year.

• Adjusted earnings per share stood at $0.39 for the quarter.

• Oracle and SAP segments were key contributors to the financial performance with total revenues of $21.7 million and $14.6 million respectively.

• Global S&BT segment reported revenues of $40.9 million.

• Near-term investments will primarily focus on expanding GenAI capabilities as the company aims to increase the scope of engagements with AI Explorer in the second quarter.

Business Progress:

• Performance during the quarter was attributed to robust gains in the Oracle and SAP segments which surpassed expectations.

• The company launched the AI Explorer platform as part of its GenAI initiatives, with additional investments planned to expand its capabilities.

• The Hackett Group expects the increase in AI-specific budgetary allocations to be temporary, with a focus turning towards larger business transformation initiatives.

• There's concern over the declining engagement levels in the e-procurement area, with hopes of a resurgence in the SDP segment if e-procurement levels rise.

• The company plans to leverage the strong cash flow from operations to continue paying down its outstanding balance of its credit facility and also fund acquisitions and stock buybacks.

• The Hackett Group is actively seeking strategic alliances and partnerships to drive revenue growth over the next 3-5 years.

More details: Hackett Group IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.