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Charles River (CRAI) Beats on Q2 Earnings and Revenues
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Charles River Associates (CRAI - Free Report) 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
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.
Equifax (EFX - Free Report) 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 - Free Report) 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 - Free Report) 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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Charles River (CRAI) Beats on Q2 Earnings and Revenues
Charles River Associates (CRAI - Free Report) 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 - Free Report) 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 - Free Report) 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 - Free Report) reported second-quarter 2020 earnings of 41 cents per share, which beat the consensus mark by 17% but were down 58% year over year.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>