RGP - Resources Connection jumps 12% after beating FQ1 expectations

Resources Connection (RGP +12.7%) reports FQ1 revenue of $183.1M, an increase of 24.3%, beats consensus by $7.35M. SG&A as a percentage of revenue of 28.1%, an improvement of 660 basis points vs. last year same quarter. Gross margin was 39.0%, vs. 39.3% in the prior year quarter. Net income grew to $12.9M, net income margin of 7.1%. Adjusted EBITDA, a non-GAAP measure, increased to $22.4M, adjusted EBITDA margin of 12.2%, up 530 basis points. Non-GAAP EPS of $0.43 beats expectations by $0.16; GAAP EPS of $0.39 beats by $0.12. A look at the performance vs. consensus over the last few quarters. Management commentary, “Our performance in Q1 supporting clients’ migration to more agile work is the trajectory we expected,” said Kate W. Duchene, chief executive officer. “We have grown top line to levels not experienced in any first quarter period in more than ten years, while significantly improving our bottom-line return. This level of performance reflects three years

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Resources Connection jumps 12% after beating FQ1 expectations