Exponent, Inc. (EXPO) Tops Q3 EPS by 3c; Raises Outlook

Exponent, Inc. (NASDAQ: EXPO) reported Q3 EPS of $0.32, $0.03 better than the analyst estimate of $0.29. Revenue for the quarter came in at $95.3 million versus the consensus estimate of $92.98 million.

GUIDANCE:

For the full year 2018, we are increasing our revenue growth and margin expectations. Our outlookreflects our strong performance year-to-date and positive momentum in several business areas, partially offset by a challenging year-over-year comparison due to the large human factors project, which concluded in August 2018. We expect revenues before reimbursements for the full year 2018 to grow in the high-single digits, as compared to last year, including fourth quarter revenue growth in the middle-single digits. EBITDA1 margin for the full year is expected to increase approximately 50 basis points, from the 26.5% achieved in 2017. This includes EBITDA1 margin declining 75 to 125 basis points in the fourth quarter, as compared to the same period a year ago. As previously discussed, we 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 due to the new Tax Legislation2,” commented Richard Schlenker, Executive Vice President and Chief Financial Officer.

“Exponent’s unique market position, adaptable business model and diverse clientele position us well for long-term growth. As our clients focus on developing safer, healthier, environmentally sustainable and reliable products we will continuously evolve our engineering and scientific solutions. Our inter-disciplinary teams are prepared to advise clients facing the world’s modern technological complexities and challenges,” concluded Dr. Corrigan.

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

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