LONDON, UK / ACCESSWIRE / July 24, 2018 / If you want access to our free earnings report on Exponent, Inc. (NASDAQ: EXPO), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=EXPO. The Company reported its financial results on July 19, 2018, for the second quarter of the fiscal year 2018, ended June 29, 2018. The Company surpassed analysts' consensus estimates for earnings and revenues in Q2 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For Q2 FY18, Exponent's total revenues reached $95.62 million, reflecting an increase of 8.86% from $87.84 million in Q2 FY17. The Company's total revenue numbers exceeded analysts' consensus estimates by $2.87 million.
Exponent's results for Q2 FY18 reflected a continuing demand for its expertise and services, supported by a positive market trends across several industries, practices, and geographies, and consistent with the expected step-down in the ongoing large human factors project.
During the quarter under review, Exponent's revenues before reimbursements increased 6.96% to $89.97 million on a y-o-y basis, while its reimbursements advanced 51.85% to $5.65 million on a y-o-y basis.
Exponent incurred total operating expenses of $73.14 million in Q2 FY18, up 8.32% from $67.52 million in Q2 FY17. For the reported quarter, the Company's compensation and related expenses advanced 7.61% to $55.46 million on a y-o-y basis, while its other operating expenses jumped 4% to $7.57 million on a y-o-y basis. The Company's reimbursable expenses also increased 51.85% to $5.65 million on a y-o-y basis, and its general and administrative expenses fell 10.46% to $4.47 million on a y-o-y basis in Q2 FY18. Exponent had an operating income of $22.48 million in Q2 FY18 compared to $20.32 million in Q2 FY17, reflecting an increase of 10.64%. On a non-GAAP basis, excluding share-based compensation, the Company had adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of $29.71 million in the reported quarter, up 9.07% from $27.24 million in the year ago same quarter.
For the quarter ended June 29, 2018, Exponent's net income was $18.43 million, up 33.60% from $13.79 million in the comparable period of last year. The Company's diluted earnings per share (EPS) also advanced 30.77% to $0.34 in Q2 FY18 from $0.26 in Q2 FY17, and exceeded analysts' consensus estimates by $0.03 per share.
Exponent's Engineering & Other Scientific segment's revenues represented approximately 80% of the Company's total revenues for Q2 FY18 and H1 FY18. The segment's revenues increased 8% on a y-o-y basis in the quarter under review, led by noteworthy performances in its human factors, material sciences, thermal sciences, mechanical engineering, and construction consulting practices.
Exponent's Environmental & Health segment's revenues represented approximately 20% of the Company's total revenues for Q2 FY18 and H1 FY18. The segment's revenues grew 3% on a y-o-y basis in the reported quarter, led by a strong growth in its chemical regulation and food safety practice.
Exponent had cash and cash equivalents of $117.77 million as on June 29, 2018, 5.63% lower than $124.79 million as on December 29, 2017.
Exponent paid $13.50 million in dividends in the first half of 2018. On June 07, 2018, the Company completed its previously announced two-for-one stock split of its common stock. As of June 29, 2018, Exponent had approximately 52 million shares of common stock outstanding.
For the full fiscal year 2018, Exponent reiterated its revenue growth and increased its margin expectations. The Company now expects revenues before reimbursements to grow in the mid-to-high single digits, and EBITDA margin to decline by approximately 25 to 50 basis points for FY18 compared to FY17. Exponent expects its consolidated income tax rate to be approximately 22% to 23% for FY18, after including the estimated tax adjustments associated with share-based awards.
On July 19, 2018, Exponent's Board of Directors declared a quarterly cash dividend of $0.13 per share of common stock, to be paid on September 21, 2018, to all common stockholders of record as of September 07, 2018. The Company also reiterated its intent of continuing to pay quarterly dividends.
Stock Performance Snapshot
July 23, 2018 - At Monday's closing bell, Exponent's stock rose 1.33%, ending the trading session at $49.50.
Volume traded for the day: 318.20 thousand shares, which was above the 3-month average volume of 228.75 thousand shares.
Stock performance in the last three-month - up 15.38%; previous six-month period - up 34.60%; past twelve-month period - up 51.72%; and year-to-date - up 39.24%
After yesterday's close, Exponent's market cap was at $2.65 billion.
Price to Earnings (P/E) ratio was at 43.16.
The stock has a dividend yield of 1.05%.
The stock is part of the Services sector, categorized under the Management Services industry.
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