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Mastech Holdings Inc (MHH)
NYSE MKT:MHH
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Earnings Data
Report Date
Feb 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.18Last Year’s EPS
$0.11Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: 42.58%
|Next Earnings Date:Feb 05, 2025
Earnings Call Sentiment|Positive
Mastech Digital's Q3 2024 earnings call presented a strong financial performance characterized by significant revenue and gross margin growth, particularly in the Data and Analytics Services segment. The company maintains a strong financial position with no debt and robust cash reserves. However, potential seasonal impacts on Q4 performance and cash flow considerations due to working capital investments were noted. Overall, the sentiment is positive given the outweighing positive financial results and outlook improvements.Company Guidance
During the Mastech Digital Q3 2024 earnings call, the company refrained from providing specific forward-looking guidance, consistent with their practice of not offering guidance in earnings calls or subsequent meetings. The call highlighted several key financial metrics, including a year-over-year revenue growth of 8% to $51.8 million and a significant improvement in gross profit, which rose by 18% to $14.8 million. The Data and Analytics Services segment experienced a notable year-over-year revenue increase of 17%, and the IT Staffing Services segment achieved a 7% revenue growth. Gross margins reached a company record of 28.5%, with the Data and Analytics Services segment reporting a gross margin of 50.7% and the IT Staffing Services segment maintaining a record margin of 23.6%. The company's financial position was strong, with $23.9 million in cash, no outstanding bank debt, and borrowing availability of approximately $25 million. Despite macroeconomic uncertainties earlier in the year, Mastech Digital's operational improvements and strategic focus have positioned it well for future growth.Revenue Growth
Revenues for Q3 2024 were $51.8 million, representing an 8% year-over-year increase and a 5% sequential increase from Q2 2024.
Data and Analytics Services Performance
Revenues in the Data and Analytics Services segment increased by 17% year-over-year to $9.4 million, with a gross margin increase to 50.7%.
Record Gross Margins
Consolidated gross profit increased by 18% year-over-year, with a gross margin record of 28.5%.
Strong Financial Position
The company ended the quarter with $23.9 million in cash, no outstanding bank debt, and borrowing availability of approximately $25 million.
IT Staffing Services Growth
IT Staffing Services segment revenues grew by 7% year-over-year, with a gross margin record of 23.6%.
Increased Billable Consultant Headcount
The company increased its billable consultant headcount by 4% during Q3 2024.
Improved Economic Outlook
Positive momentum seen due to effective SG&A cost containment, improved economic outlook around inflation, and job growth.
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MHH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MHH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $10.31 | $10.89 | +5.63% |
| Aug 07, 2024 | $8.11 | $9.10 | +12.21% |
| May 08, 2024 | $8.59 | $8.50 | -1.05% |
| Feb 07, 2024 | $8.48 | $8.56 | +0.94% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Mastech Holdings Inc (MHH) report earnings?
Mastech Holdings Inc (MHH) is schdueled to report earning on Feb 05, 2025, TBA Not Confirmed.
What is Mastech Holdings Inc (MHH) earnings time?
Mastech Holdings Inc (MHH) earnings time is at Feb 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MHH EPS forecast?
MHH EPS forecast for the fiscal quarter 2024 (Q4) is $0.18.
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