The following is a summary of the RCM Technologies, Inc. (RCMT) Q2 2024 Earnings Call Transcript:
Financial Performance:
Consolidated gross profit for Q2 2024 increased by 6.6% year-over-year from $18.8 million to $20.0 million.
Adjusted EBITDA for Q2 2024 grew by 10.8%, from $6.5 million to $7.2 million.
Adjusted diluted EPS for Q2 2024 increased by 12.0%, from $0.50 to $0.56.Engineering gross profit grew by 23.7%, while Life Sciences Data & Solutions gross profit decreased by 17.9%.
Healthcare Q2 gross profit grew by 8.6%.
Business Progress:
Significant expansion in Engineering, especially with Energy Services' revenue and EBITDA exceeding forecasts and expanding in Lat Am and Europe.
The Healthcare division successfully added many new school districts, improving recruitment and credentialing processes.
Life Sciences continues to demonstrate growth through solutions integrated approach, including a quality control project in Puerto Rico for a major pharma packaging company.
Aerospace and Defense experienced mixed results but maintains healthy EBITDA and a continued focus on customer requirements.
Opportunities:
Continued strong contribution from Engineering along with the increased strength in other divisions expected in the back half of the year.
Risks:
Life Science commercial practice leads the growth but exhibits variability and dependence on high-margin projects.
More details: RCM Technologies 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.
