Business
Huron Announces Third Quarter 2024 Financial Results and Increases 2024 Earnings Guidance
THIRD QUARTER 2024 HIGHLIGHTS Revenues before reimbursable expenses(1) increased $11.9 million, or 3.3%, to $370.0 million in Q3 2024 from $358.2 million in
About this update from Huron Consulting Group Inc.
[{"type":"text","content":"\nTHIRD QUARTER 2024 HIGHLIGHTS\n\n\nRevenues before reimbursable expenses(1) increased $11.9 million, or 3.3%, to $370.0 million in Q3 2024 from $358.2 million in Q3 2023.\n\n\n\n\nNet income increased $5.6 million, or 26.2%, to $27.1 million in Q3 2024, compared to $21.5 million in Q3 2023.\n\n\n\n\nAdjusted EBITDA(9), a non-GAAP measure, increased $6.9 million, or 14.3%, to $54.9 million in Q3 2024 from $48.0 million in Q3 2023.\n\n\n\n\nDiluted earnings per share increased $0.37, or 33.6%, to $1.47 in Q3 2024, compared to $1.10 in Q3 2023.\n\n\n\n\nAdjusted diluted earnings per share(9), a non-GAAP measure, increased $0.29, or 20.9%, to $1.68 in Q3 2024 from $1.39 in Q3 2023.\n\n\n\n\nNet cash provided by operating activities was $85.2 million in Q3 2024, compared to $68.8 million in Q3 2023.\n\n\nYEAR-TO-DATE 2024 HIGHLIGHTS\n\n\nRevenues before reimbursable expenses(1) increased $74.8 million, or 7.3%, to $1.10 billion for the first nine months of 2024 from $1.02 billion for the same prior year period.\n\n\n\n\nNet income increased $23.0 million, or 38.5%, to $82.6 million for the first nine months of 2024, compared to $59.6 million for the same prior year period. Results for the first nine months of 2024 include an $11.1 million litigation settlement gain, net of tax, related to a completed legal matter in which Huron was the plaintiff.\n\n\n\n\nAdjusted EBITDA(9), a non-GAAP measure, increased $18.4 million, or 14.6%, to $144.4 million for the first nine months of 2024 from $126.0 million for the same prior year period.\n\n\n\n\nDiluted earnings per share increased $1.38, or 45.2%, to $4.43 for the first nine months of 2024, compared to $3.05 for the same prior year period. Results for the first nine months of 2024 include the litigation settlement gain related to a completed legal matter in which Huron was the plaintiff, which had a favorable $0.59 impact on diluted earnings per share for the period.\n\n\n\n\nAdjusted diluted earnings per share(9), a non-GAAP measure, increased $0.93, or 25.5%, to $4.57 for the first nine months of 2024 from $3.64 for the same prior year period.\n\n\n\n\nHuron returned $104.0 million to shareholders by repurchasing 1.1 million shares of the company's common stock in the first nine months of 2024, representing 5.8% of the company's common stock outstanding as of December 31, 2023.\n\n\n\...