Exponent, Inc. (EXPO) Tops Q1 EPS by 13c

Exponent, Inc. (NASDAQ: EXPO) reported Q1 EPS of $0.75, $0.13 better than the analyst estimate of $0.62. Revenue for the quarter came in at $96.5 million versus the consensus estimate of $89.51 million.

Business Outlook

“Our outlook reflects positive momentum in the business, as well as the expected deceleration of the ongoing human factors assessment project in 2018. We are improving our expectations for the full year 2018. We now expect revenues before reimbursements to grow in the mid- to high- single digits and EBITDA3 margin to decline by approximately 50 to 100 basis points, as compared to 2017. As previously discussed, we continue to believe that Exponent’s consolidated income tax rate will be approximately 22% to 23% for 2018, after including the estimated tax adjustments associated with share-based awards. This tax rate range is approximately ten percentage points lower than it would have been as a result of the new Tax Legislation,2” commented Richard Schlenker, Executive Vice President and Chief Financial Officer.

“On May 31, 2018, we will promote Dr. Catherine Corrigan, our current President to the role of CEO and President. I am extremely honored to have led Exponent for the past nine years, and as Chairman I look forward to supporting Catherine as I am certain that she is the right person to lead our firm into the future,” stated Dr. Johnston.

“Exponent holds a unique market position and will continue to leverage its experience and superior reputation in reactive services to drive growth in our proactive services around the world. As we look ahead, we are confident in Exponent’s strategy to uncover growth opportunities across practices, industries and geographies. We are focused on positioning the company for long-term success, delivering strong financial results and creating value for our stakeholders. I am excited about the opportunity to lead Exponent as we empower clients with solutions for a safe, healthy, sustainable and technologically complex world,” commented Dr. Catherine Corrigan, President.

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

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