Exponent, Inc. (EXPO) Reports In-Line Q2 EPS; Trims Outlook

Exponent, Inc. (NASDAQ: EXPO) reported Q2 EPS of $0.43, in-line with the analyst estimate of $0.43. Revenue for the quarter came in at $77.3 million versus the consensus estimate of $80.46 million.

“Based on our performance in the first half of the year and the near-term market trends, we are reducing our 2016 expectations,” commented Richard Schlenker, Executive Vice President and Chief Financial Officer.

• Revenues before reimbursements are expected to be down 1% to 2% for the year as compared to 2015.
• Underlying growth is expected to be in the low single digits, excluding the impact of the major project completion in the third quarter of 2015.
• 2016 EBITDA1 margin is expected to decline approximately 200 to 250 basis points as compared to 2015, as a result of lower utilization.

“We believe that Exponent’s multi-disciplinary teams are uniquely positioned to capitalize on society’s increased focus on product safety, human health and the environment, as well as an increasing technological complexity of products. Exponent’s market position will allow us to continue to deliver value to our clients and shareholders," concluded Dr. Johnston.

For earnings history and earnings-related data on Exponent, Inc. (EXPO) click here.

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