Exponent, Inc. (EXPO) Tops Q2 EPS by 6c

Exponent, Inc. (NASDAQ: EXPO) reported Q2 EPS of $0.31, $0.06 better than the analyst estimate of $0.25. Revenue for the quarter came in at $92 million versus the consensus estimate of $88.34 million.

We are pleased with the responsiveness of our employees and the adaptiveness of our company to today’s uncertain environment. Clients continue to call upon Exponent to address their challenges and to evaluate their opportunities, despite the rapid change and unpredictability that the pandemic has infused into their operating plans. While net revenues declined 12% in the second quarter, the fundamentals of our business remain strong and we continue to operate in a position of financial strength. We ended the quarter with $190 million in cash, cash equivalents and short-term investments, no debt, and reiterated our intent to continue quarterly dividends,” commented Dr. Catherine Corrigan, President and Chief Executive Officer.

“The demand for Exponent’s interdisciplinary solutions is durable as companies continue to innovate and deploy increasingly complex products and systems. At the same time, society’s focus on safety, health, sustainability, and reliability requires rigorous science and data-driven analysis, which are hallmarks of Exponent’s more than 50 years of service. Our agility in assembling and deploying diversely skilled teams – drawing upon more than eight hundred highly credentialed consultants across a vast array of disciplines – has manifested itself yet again as we advise clients on a variety of issues prompted by COVID-19. Exponent has a long history and strong track record of delivering for all of our stakeholders, and we are confident in the resilience of our business and our ability to deliver growth over the long term,” continued Dr. Corrigan.

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

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