The following is a summary of the CRA International, Inc. (CRAI) Q2 2024 Earnings Call Transcript:
Financial Performance:
CRA International reported a 5.9% increase in Q2 2024 revenue to $171.4 million.
Non-GAAP net income, earnings per diluted share, and EBITDA increased by 26.4%, 28.9%, and 18.5% respectively.
For FY 2024, CRA expects revenue in the range of $670 million to $685 million and a non-GAAP EBITDA margin between 12.2% to 13.0%.
Business Progress:
Significant contributions from the Antitrust & Competition Economics, Financial Economics, Intellectual Property, Labor & Employment, and Life Sciences practices, with growth in new project originations.
The company optimized its service portfolio by reconfiguring the consulting team, which involved targeted actions in about half a dozen practices.
Intellectual Property practice has expanded, particularly in Texas, enhancing CRA's capabilities in patent litigation.
Opportunities:
The Antitrust & Competition Economics practice continues to see strong demand in regulatory and legal environments, handling high-profile litigation and assisting in mergers.
Intellectual Property practice benefits from a strong demand for patent litigation, especially from their strengthened position in Texas.
Risks:
There are pockets of excess capacity within the company, leading to targeted optimization actions.
More details: CRA International IR
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