CRA International ( (CRAI) ) has released its Q3 earnings. Here is a breakdown of the information CRA International presented to its investors.
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Charles River Associates (CRA), a global leader in economic, financial, and management consulting services, has reported strong financial results for the third quarter of 2024. The company, known for its expertise in litigation, regulatory proceedings, and business strategy, achieved record revenue levels, driven by broad-based growth across multiple practices.
In the latest earnings report, CRA announced a 13.7% increase in quarterly revenue, reaching $167.7 million, marking the highest third-quarter revenue in its history. The company also saw a significant rise in profitability, with net income growing by 33.1% and a notable increase in earnings per share. Five of CRA’s practices, including Antitrust & Competition Economics and Financial Economics, reported revenue growth exceeding 10% year over year.
The financial highlights include a 54.8% increase in non-GAAP EBITDA, reaching $21.3 million, and a 38.0% increase in earnings per diluted share. CRA also returned $2.9 million to shareholders through quarterly dividend payments, raising its dividend by 17% to $0.49 per share. Despite a slight decrease in headcount, the company maintained a solid utilization rate of 76%.
Looking ahead, CRA’s management remains confident in the company’s competitive position, reaffirming their revenue and profit guidance for the full year 2024. While they acknowledge potential macroeconomic and geopolitical challenges, the continued demand for CRA’s services and strategic financial management positions the company well for sustained growth.
