Business
Huron Announces Fourth Quarter and Full Year 2021 Financial Results, and Provides 2022 Guidance
FOURTH QUARTER 2021 HIGHLIGHTS Revenues increased $49.9 million, or 25.2%, to $248.3 million in Q4 2021 from $198.3 million in Q4 2020. Net income from
About this update from Huron Consulting Group Inc.
[{"type":"text","content":"\nFOURTH QUARTER 2021 HIGHLIGHTS\n\n\nRevenues increased $49.9 million, or 25.2%, to $248.3 million in Q4 2021 from $198.3 million in Q4 2020.\n\n\nNet income from continuing operations increased to $31.1 million in Q4 2021 compared to a net loss from continuing operations of $6.1 million in Q4 2020. Results for Q4 2021 include a $23.7 million gain, net of tax from the sale of the company's Life Sciences business in the fourth quarter of 2021. Results for Q4 2020 include $13.9 million of restructuring charges, net of tax related to the fourth quarter 2020 restructuring plan.\n\n\nAdjusted EBITDA(8), a non-GAAP measure, increased $12.2 million, or 71.7%, to $29.3 million in Q4 2021 from $17.1 million in Q4 2020.\n\n\nDiluted earnings per share from continuing operations was $1.45 in Q4 2021 compared to diluted loss per share from continuing operations of $0.28 in Q4 2020.\n\n\nAdjusted diluted earnings per share from continuing operations(8), a non-GAAP measure, excludes the gain on sale of the company's Life Sciences business and increased $0.35, or 77.8%, to $0.80 in Q4 2021 from $0.45 in Q4 2020.\n\n\nFULL YEAR 2021 HIGHLIGHTS AND 2022 GUIDANCE\n\n\nRevenues increased $61.5 million, or 7.3%, to $905.6 million for full year 2021 compared to $844.1 million for full year 2020.\n\n\nNet income from continuing operations was $63.0 million for full year 2021 compared to a net loss from continuing operations of $23.7 million for full year 2020. Results for full year 2021 include a $23.7 million gain, net of tax from the sale of the company's Life Sciences business in the fourth quarter of 2021. Results for full year 2020 include non-cash goodwill impairment charges, net of tax of $45.3 million incurred in Q1 2020 related to the company's Strategy and Innovation and Life Sciences reporting units within the Business Advisory segment and $13.9 million of restructuring charges, net of tax related to the fourth quarter 2020 restructuring plan.\n\n\nAdjusted EBITDA(8), a non-GAAP measure, increased $10.7 million, or 12.3%, to $97.8 million for full year 2021 compared to $87.1 million for full year 2020.\n\n\nDiluted earnings per share from continuing operations was $2.89 for full year 2021 compared to diluted loss per share from continuing operations of $1.08 for full year 2020.\n\n\nAdjusted diluted earnings per share from continuing oper...