Charles River (CRAI) Beats on Q2 Earnings and Revenues
Charles River Associates CRAI reported solid second-quarter 2020 results, with earnings and revenues beating the Zacks Consensus Estimate.
Non-GAAP EPS came in at 80 cents, which beat the Zacks Consensus Estimate by 48.2% and jumped 9.6% year over year. Revenues of $123 million surpassed the consensus mark by 10.4% and increased 11.3% year over year.
The company recorded the highest second-quarter revenues in its history. It registered double-digit year-over-year revenue growth in Finance, Forensic Service and Life Sciences practices.
Charles River Associates Price, Consensus and EPS Surprise
Charles River Associates price-consensus-eps-surprise-chart | Charles River Associates Quote
Other Quarterly Details
The company delivered 66% utilization and headcount was up by 20.8% year over year. Non-GAAP EBITDA climbed 2% year over year to $11.9 million. Non-GAAP EBITDA margin shrunk 90 basis points (bps) year over year to 9.7%.
The company exited the second quarter with cash and cash equivalents of $18.8 million compared with $15.8 million witnessed at the end of the prior quarter. It used $21.1 million of cash in operating activities and capex was $5.6 million. In the quarter, Charles River paid out $1.8 million of dividend.
Currently, Charles River carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Business Services Companies
Equifax EFX reported better-than-expected second-quarter 2020 adjusted earnings of $1.60 per share, which beat the Zacks Consensus Estimate by 22.1% and improved 14.3% on a year-over-year basis. The reported figure exceeded the guided range of 78-88 cents.
IQVIA Holdings IQV reported second-quarter 2020 adjusted earnings per share of $1.18, which beat the consensus mark by 12.4% but decreased 22.9% on a year-over-year basis. The reported figure lies within the guided range of $1.00-$1.09.
Robert Half RHI reported second-quarter 2020 earnings of 41 cents per share, which beat the consensus mark by 17% but were down 58% year over year.
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