Business
Huron Announces First Quarter 2023 Financial Results and Affirms 2023 Guidance
FIRST QUARTER 2023 FINANCIAL HIGHLIGHTS Total revenues increased $57.8 million, or 22.2%, to $317.9 million in Q1 2023 from $260.0 million in Q1 2022.
About this update from Huron Consulting Group Inc.
[{"type":"text","content":"\nFIRST QUARTER 2023 FINANCIAL HIGHLIGHTS\n\n\n\nTotal revenues increased $57.8 million, or 22.2%, to $317.9 million in Q1 2023 from $260.0 million in Q1 2022.\n\n\n\n\nRevenues within the Digital capability increased 28.5% to $140.7 million in Q1 2023, compared to $109.5 million in Q1 2022.\n\n\n\n\nNet income was $13.4 million in Q1 2023, compared to $26.9 million in Q1 2022. Results for Q1 2022 included a non-recurring, unrealized gain of $19.8 million, net of tax, related to the company's investment in a hospital-at-home company.\n\n\n\n\nAdjusted EBITDA(6), a non-GAAP measure, increased $7.4 million, or 33.4%, to $29.5 million in Q1 2023 from $22.1 million in Q1 2022.\n\n\n\n\nDiluted earnings per share was $0.68 in Q1 2023, compared to $1.27 in Q1 2022 which included the non-recurring, unrealized gain related to the company's investment in a hospital-at-home company.\n\n\n\n\nAdjusted diluted earnings per share(6), a non-GAAP measure, increased $0.38, or 77.6%, to $0.87 in Q1 2023 from $0.49 in Q1 2022.\n\n\n\n\nHuron returned $44.3 million to shareholders by repurchasing 0.6 million shares of the company's common stock in Q1 2023.\n\n\n\n\nHuron affirms its previous earnings guidance range for full year 2023, including revenue expectations in a range of $1.22 billion to $1.28 billion.\n\n\n\nOTHER HIGHLIGHTS\n\n\n\nHuron released its 2022 Environmental, Social and Governance (ESG) Report, which reiterates the company's commitment to shaping a more sustainable future.\n\n\n\n\nHuron amended its credit facility to include ESG-related measures that align the company's financing and people-focused goals.\n\n\n\n\nHuron introduced its 2023 Investor Presentation, which provides insight into the company and its commitment to achieving its strategic and financial objectives.\n\n\n\n CHICAGO--(BUSINESS WIRE)--\nGlobal professional services firm Huron (NASDAQ: HURN) today announced financial results for the first quarter ended March 31, 2023.\n\n\n“Our first quarter results reflect our steady progress toward achieving the medium-term financial objectives we set forth in 2022 for double-digit revenue growth, expanded adjusted EBITDA margins, and accelerated adjusted EPS growth,” said Mark Hussey, chief executive officer and president of Huron. “Driven by strong growth across all three operating segments and in our Digital capability...