Exponent sees Q1 revenue down low-single digits befor reimbursements

Consensus for Q1 revenue is $136.93M…”We are pleased with the 73% utilization we achieved in 2024. While we are starting the year with a 5 to 6% headwind in technical full-time-equivalent employees, we expect to grow headcount sequentially by 1-2% each quarter to meet demand. In the first quarter, we expect net revenues to be slightly down, but we anticipate an increase in activity as the year progresses, ultimately driving full year growth in the low single digits,” commented Richard Schlenker, Executive Vice President and Chief Financial Officer. “As a reminder, we are returning to a 52-week fiscal year in 2025, which will pose a headwind for full-year comparisons since fiscal 2024 benefitted from a 53rd week.” For the first quarter of fiscal 2025 as compared to the same period one year prior, Exponent (EXPO) anticipates: Revenues before reimbursements to be down in the low-single digits; and, EBITDA1 to be 25.0% to 26.0% of revenues before reimbursements.