The Hackett Group, Inc. (NASDAQ:HCKT) Q3 2023 Earnings Call Transcript
The Hackett Group, Inc. (NASDAQ:HCKT) Q3 2023 Earnings Call Transcript November 7, 2023
The Hackett Group, Inc. beats earnings expectations. Reported EPS is $0.41, expectations were $0.4.
Operator: Welcome to The Hackett Group Third Quarter Earnings Conference Call. Your lines have been placed on a listen-only mode until the question-and-answer session. Please be advised the conference is being recorded. Hosting tonight's call are Mr. Ted Fernandez, Chairman and CEO; and Mr. Rob Ramirez, Chief Financial Officer. Mr. Ramirez, you may begin.
Rob Ramirez: Good afternoon, everyone, and thank you for joining us to discuss The Hackett Group's third quarter 2023 results. Speaking on the call today and here to answer your questions are Ted Fernandez, Chairman and Chief Executive Officer of The Hackett Group; and myself, Rob Ramirez, Chief Financial Officer. A press announcement was released over the wires at 4:05 PM Eastern Time. For a copy of the release, please visit our Web site at www.thehackettgroup.com. We will also place any additional financial or statistical data as discussed on this call that is not contained in the release on the Investor Relations page of our Web site. Before we begin, I would like to remind you that in the following comments and in the Q&A session, we will be making statements about expected future results, which may be forward-looking statements for the purposes of the federal securities laws.
These statements relate to our current expectations, estimates and projections, and are not a guarantee of future performance. They involve risks, uncertainties and assumptions that are difficult to predict and which may not be accurate. Actual results may vary. These forward-looking statements should be considered only in conjunction with the detailed information, particularly, the risk factors that is contained in our SEC filings. At this point, I would like to turn it over to Ted.
Ted Fernandez: Thank you, Rob, and welcome, everyone, to our third quarter earnings call. As we normally do, I will open the call with some overview comments on the quarter. I will then turn it back over to Rob to comment on the detailed operating results, cash flow, as well as comment on outlook. We will then review our market and strategy-related comments, after which we will open it up to Q&A. This afternoon, we reported revenues before reimbursements of $74.6 million, which was above the high end of our guidance, and adjusted earnings per share of $0.41, which was at the high end of our guidance. Consistent with our comments on our previous earnings call, the momentum we experienced in the second quarter continued, and allowed us to exceed the results from Q3 of last year.
This was most pronounced with the strong performance of our Oracle Solutions segment, which was up strongly, as several engagements which we launched in the second quarter continued to ramp. Equally important, we continue to experience strong market demand and receive strong support from the Oracle sales channel during the quarter. Our Global SBT segment was up over 5% when compared to last year. We saw mostly new [client base] (ph) now include thoughtful discussions on Gen AI considerations. We have been working on a new series of AI offerings. We've recently launched our new AI Explorer tool which allows us to deliver a comprehensive Gen AI opportunity assessment for clients, and provides recommendations by function at the activity level.
See also 12 Most Promising Medical Stocks and 15 Best Dividend Leaders to Buy.
To continue reading the Q&A session, please click here.
