2023-07-27 16:22:44 ET
- Huron Consulting press release ( NASDAQ: HURN ): Q2 Non-GAAP EPS of $1.38 beats by $0.38 .
- Revenue of $73.4M (-73.1% Y/Y) misses by $239.2M .
- Net cash provided by operating activities was $78.2 million in Q2 2023, compared to $28.9 million in Q2 2022.
- YEAR-TO-DATE 2023 HIGHLIGHTS
- Total revenues increased $131.3 million, or 24.6%, to $664.7 million for the first six months of 2023 from $533.4 million for the same prior year period.
- Revenues within the Digital capability increased 23.5% to $290.2 million for the first six months of 2023, compared to $234.9 million for the same prior year period.
- Net income was $38.1 million for the first six months of 2023, compared to $40.7 million for the same prior year period. Results for the first six months of 2022 included a non-recurring, unrealized gain of $19.8 million, net of tax, related to the company's investment in a hospital-at-home company.
- Adjusted EBITDA, a non-GAAP measure, increased $22.7 million, or 40.9%, to $78.0 million for the first six months of 2023 from $55.3 million for the same prior year period.
- Adjusted EBITDA as a percentage of revenues (6) , a non-GAAP measure, increased 130 basis points to 11.7% for the first six months of 2023 from 10.4% for the same prior year period.
- Diluted earnings per share increased to $1.95 for the first six months of 2023, compared to $1.94 for the same prior year period which included the non-recurring, unrealized gain related to the company's investment in a hospital-at-home company.
- Adjusted diluted earnings per share, a non-GAAP measure, increased $0.93, or 70.5%, to $2.25 for the first six months of 2023 from $1.32 for the same prior year period.
- Huron returned $59.6 million to shareholders in the first six months of 2023 by repurchasing 0.8 million shares of the company's common stock.
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2023 GUIDANCE
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Huron increases its previous full year 2023 revenue and earnings guidance ranges, including revenue expectations in a range of $1.30 billion to $1.34 billion.
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Huron Consulting Non-GAAP EPS of $1.38 beats by $0.38, revenue of $73.4M misses by $239.2M