Business
Huron Announces Record Second Quarter 2024 Financial Results and Raises 2024 Earnings Guidance
SECOND QUARTER 2024 FINANCIAL HIGHLIGHTS Total revenues increased $24.9 million, or 7.2%, to a record $371.7 million in Q2 2024 from $346.8 million in Q2
About this update from Huron Consulting Group Inc.
[{"type":"text","content":"\nSECOND QUARTER 2024 FINANCIAL HIGHLIGHTS\n\n\n\nTotal revenues increased $24.9 million, or 7.2%, to a record $371.7 million in Q2 2024 from $346.8 million in Q2 2023.\n\n\n\nNet income increased $12.8 million, or 51.7%, to $37.5 million in Q2 2024, compared to $24.7 million in Q2 2023. Results for Q2 2024 include an $11.1 million litigation settlement gain, net of tax, related to a completed legal matter for which Huron was the plaintiff.\n\n\n\nAdjusted EBITDA(8), a non-GAAP measure, increased $7.2 million, or 14.9%, to $55.7 million in Q2 2024 from $48.5 million in Q2 2023.\n\n\n\nDiluted earnings per share increased $0.76, or 59.8%, to $2.03 in Q2 2024, compared to $1.27 in Q2 2023. Results for Q2 2024 include the litigation settlement gain related to a completed legal matter for which Huron was the plaintiff, which had a favorable $0.60 impact on diluted earnings per share for the quarter.\n\n\n\nAdjusted diluted earnings per share(8), a non-GAAP measure, increased $0.30, or 21.7%, to $1.68 in Q2 2024 from $1.38 in Q2 2023.\n\n\n\nNet cash provided by operating activities was a record $107.2 million in Q2 2024, compared to $78.2 million in Q2 2023.\n\n\n\nHuron returned $34.4 million to shareholders by repurchasing 0.4 million shares of the company's common stock in Q2 2024.\n\n\n\nYEAR-TO-DATE 2024 HIGHLIGHTS AND 2024 GUIDANCE\n\n\n\nTotal revenues increased $63.0 million, or 9.5%, to $727.6 million for the first six months of 2024 from $664.7 million for the same prior year period.\n\n\n\nNet income increased $17.4 million, or 45.5%, to $55.5 million for the first six months of 2024, compared to $38.1 million for the same prior year period. Results for the first six months of 2024 include an $11.1 million litigation settlement gain, net of tax, related to a completed legal matter for which Huron was the plaintiff.\n\n\n\nAdjusted EBITDA(8), a non-GAAP measure, increased $11.5 million, or 14.8%, to $89.5 million for the first six months of 2024 from $78.0 million for the same prior year period.\n\n\n\nDiluted earnings per share increased $1.01, or 51.8%, to $2.96 for the first six months of 2024, compared to $1.95 for the same prior year period. Results for the first six months of 2024 include the litigation settlement gain related to a completed legal matter for which Huron was the plaintiff, which had a favorable $0.59 ...