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
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.
