financetom
Business
financetom
/
Business
/
Why Is Research Company Exponent Stock Soaring Today?
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Why Is Research Company Exponent Stock Soaring Today?
Apr 26, 2024 9:42 AM

Engineering and scientific consulting firm Exponent Inc ( EXPO ) shares are skyrocketing after the company reported better-than-expected first-quarter FY24 earnings.

Exponent reported first-quarter FY24 sales growth of 3.3% year-on-year to $144.93 million, beating the analyst consensus estimate of $125.98 million.

Exponent’s engineering and other scientific segment represented 84% of the company’s revenues before reimbursements in the first quarter of 2024.

Operating income for the quarter increased 5.5% to $30.7 million, with an operating margin of 21.2%.

EPS of $0.59 beat the analyst consensus estimate of $0.47.

Exponent held $168.7 million in cash and equivalents as of March 29, 2024. The Board of Directors has declared a quarterly cash dividend of $0.28 per share of common stock to be paid on June 21 to all common stockholders of record as of June 7.

“The increasing global attention on safety, health, and environmental concerns coupled with the complexity and pace of innovation continues to drive greater demand for our expertise,” said President and CEO Catherine Corrigan.

Outlook: For FY24, Exponent increased its revenue and margin guidance, with revenues before reimbursements to grow in the low-single digits (prior view: flat to down in the low-single digits) and EBITDA of 26.25% to 27.0% (prior view: 25.75% to 26.5%) of revenues before reimbursements.

For the second quarter, the company sees revenues before reimbursements to be flat to up in the low-single digits and an EBITDA of 27.25% to 28.25% of revenues before reimbursements.

Price Action: EXPO shares are trading higher by 21.6% at $96.93 at the last check Friday.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Japan's Suzuki trims India sales target amid competition, scales back EV launches
Japan's Suzuki trims India sales target amid competition, scales back EV launches
Feb 20, 2025
* Cuts India sales target to 2.5 mln from 3 mln by FY2030 * Scales back planned EV launches in India to four from six * Severe India competition prompts paring of sales target (Recasts with India sales target, EV plans, analyst comment) By Daniel Leussink and Aditi Shah TOKYO, Feb 20 (Reuters) - Japanese carmaker Suzuki Motor ( SZKMF...
Aurora Mobile Integrates DeepSeek into App Monetization Platform
Aurora Mobile Integrates DeepSeek into App Monetization Platform
Feb 20, 2025
05:40 AM EST, 02/20/2025 (MT Newswires) -- Aurora Mobile ( JG ) , a provider of technology services in China, said Thursday it has integrated DeepSeek, a large language model, into its Adpub platform to revolutionize app monetization. The enhancement will leverage DeepSeek's lightweight architecture and domain-specific optimizations, delivering unmatched efficiency, scalability, and precision, the company said early Thursday. Adpub...
Encouraging foreign brands to return to Russia 'ill-advised', trade ministry says
Encouraging foreign brands to return to Russia 'ill-advised', trade ministry says
Feb 20, 2025
Feb 20 (Reuters) - Encouraging foreign brands to return to Russia would be ill-advised, according to the industry and trade ministry, which wants to champion domestic companies that have stepped in to fill the gaps left by departing Western counterparts. More than a thousand companies, from McDonald's to Mercedes-Benz, left Russia in the last three years by selling, handing the...
Alibaba beats revenue estimates for third quarter
Alibaba beats revenue estimates for third quarter
Feb 20, 2025
(Reuters) - China's Alibaba Group Holding ( BABA ) on Wednesday topped Wall Street expectations for third-quarter revenue, on strong year-end shopping sales and the success of its strategy to attract cost-conscious consumers. U.S.-listed shares of the company were up 2.7% in premarket trading. Chinese retailers such as Alibaba ( BABA ) have slashed prices and intensified promotional offers to...
Copyright 2023-2025 - www.financetom.com All Rights Reserved