Business
Huron Announces Fourth Quarter and Full Year 2022 Financial Results, and Provides 2023 Guidance
FOURTH QUARTER 2022 HIGHLIGHTS Total revenues increased $65.4 million, or 26.3%, to $313.7 million in Q4 2022 from $248.3 million in Q4 2021. Revenues within
About this update from Huron Consulting Group Inc.
[{"type":"text","content":"\nFOURTH QUARTER 2022 HIGHLIGHTS\n\n\nTotal revenues increased $65.4 million, or 26.3%, to $313.7 million in Q4 2022 from $248.3 million in Q4 2021.\n\n\n\nRevenues within the Digital capability increased 37.0% to $130.1 million in Q4 2022 compared to $95.0 million Q4 2021.\n\n\n\nNet income was $17.1 million in Q4 2022 compared to $31.1 million in Q4 2021. 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.\n\n\n\nAdjusted EBITDA(7), a non-GAAP measure, increased $9.7 million, or 33.1%, to $39.0 million in Q4 2022 from $29.3 million in Q4 2021.\n\n\n\nDiluted earnings per share was $0.85 in Q4 2022 compared to $1.45 in Q4 2021.\n\n\n\nAdjusted diluted earnings per share(7), a non-GAAP measure, increased $0.32, or 40.0%, to $1.12 in Q4 2022 from $0.80 in Q4 2021.\n\n\n\nHuron repurchased 0.3 million shares of the company's common stock for $23.5 million in Q4 2022.\n\n\n\nNet cash provided by operating activities was $91.2 million in Q4 2022.\n\n\n\nHuron refinanced its $600 million credit facility; including extending the maturity date to 2027 and transitioning to SOFR, while maintaining favorable pricing and flexibility.\n\n\nFULL YEAR 2022 HIGHLIGHTS AND 2023 GUIDANCE\n\n\nTotal revenues increased $226.8 million, or 25.0%, to $1.132 billion for full year 2022 compared to $905.6 million for full year 2021.\n\n\n\nRevenues within the Digital capability increased 41.4% to $494.5 million for full year 2022 compared to $349.7 million for full year 2021.\n\n\n\nNet income increased $12.6 million, or 19.9%, to $75.6 million for full year 2022 compared to $63.0 million for full year 2021. Results for full year 2022 include an unrealized gain of $19.8 million, net of tax, recognized in Q1 2022 on the company's investment in a hospital-at-home company. 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.\n\n\n\nAdjusted EBITDA(7), a non-GAAP measure, increased $33.0 million, or 33.8%, to $130.8 million for full year 2022 from $97.8 million for full year 2021.\n\n\n\nDiluted earnings per share increased $0.75, or 26.0%, to $3.64 for full year 2022 from $2.89 for full year 2021.\n\n\n\nAdjusted diluted earnings per share(7), a non-GAAP measure, ...