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: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.