The following is a summary of the Huron Consulting Group Inc. (HURN) Q3 2024 Earnings Call Transcript:
Financial Performance:
Q3 2024 Revenue Before Reimbursable Expenses (RBR) was $370 million, up 3.3% from $358.2 million in the same quarter of 2023.
Adjusted EBITDA for Q3 2024 was $54.9 million or 14.8% of RBR, improving from $48 million or 13.4% of RBR in Q3 2023.
Net income for Q3 2024 was $27.1 million or $1.47 per diluted share, compared to $21.5 million or $1.10 per diluted share in Q3 2023.Adjusted diluted earnings per share increased by 21% to $1.68 from $1.39 in the prior year quarter.
Business Progress:
Huron experienced strong sales conversion across all three operating segments in Q3, achieving the highest quarterly bookings company-wide in its history.
The company's Healthcare and Education segments continued their consistent growth, driven by demand in managed services, digital offerings, and an expanded portfolio.
Commercial segment RBR declined 3% year-over-year, but showed a 12% sequential growth, indicating recovery in digital offerings.
Opportunities:
Given the consistent demand across the Healthcare and Education segments, along with anticipated stability in the Commercial Digital area, there is potential for greater growth in 2025.
Risks:
The company faces challenges related to project delays and competitive pressures in achieving its enrollment and revenue targets, especially in the Education segment.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
