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Charles River (CRAI) Q3 Earnings and Revenues Top Estimates
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Charles River Associates (CRAI - Free Report) reported solid third-quarter 2020 results, with earnings and revenues beating the Zacks Consensus Estimate.
Non-GAAP EPS came in at 76 cents, which beat the Zacks Consensus Estimate by 40.7% but declined 22.4% year over year. Revenues of $121.8 million surpassed the consensus mark by 1.7% and increased 5.3% year over year.
It registered double-digit year-over-year revenue growth in Finance, Energy, Forensic Service, and Risk, Investigations & Analytics practices.
Notably, Charles River’s shares have declined 15.7% year to date against 12.3% growth of the industry it belongs to.
Other Quarterly Details
The company delivered 69% utilization and headcount was up by 11.5% year over year. Non-GAAP EBITDA declined 4.8% year over year to $12 million. Non-GAAP EBITDA margin shrunk 110 basis points (bps) year over year to 9.8%.
The company exited the quarter with cash and cash equivalents of $24.1 million compared with $18.8 million witnessed at the end of the prior quarter. It used $33.6 million of cash in operating activities and capex was $2.2 million. In the quarter, Charles River paid out $1.8 million in dividend and repurchased shares worth $5 million.
Charles River Associates Price, Consensus and EPS Surprise
Equifax Inc. (EFX - Free Report) reported third-quarter 2020 adjusted earnings of $1.87 per share that beat the Zacks Consensus Estimate by 16.2% and improved 26.4% on a year-over-year basis. Revenues of $1.07 billion outpaced the consensus estimate by 5.9% and improved 22% year over year.
ManpowerGroup Inc. (MAN - Free Report) reported third-quarter 2020 earnings of $1.12 per share, beating the consensus mark by 90.5% but declining more than 37.5% year over year. Revenues of $4.58 billion surpassed the consensus mark by 8.7% but declined 12.7% year over year.
IHS Markit Ltd. recorded third-quarter fiscal 2020 adjusted earnings per share of 77 cents that surpassed the consensus estimate by 11.6% and increased 15% on a year-over-year basis. Total revenues came in at $1.07 billion, marginally surpassing the consensus mark but declining 4% from the year-ago quarter.
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Charles River (CRAI) Q3 Earnings and Revenues Top Estimates
Charles River Associates (CRAI - Free Report) reported solid third-quarter 2020 results, with earnings and revenues beating the Zacks Consensus Estimate.
Non-GAAP EPS came in at 76 cents, which beat the Zacks Consensus Estimate by 40.7% but declined 22.4% year over year. Revenues of $121.8 million surpassed the consensus mark by 1.7% and increased 5.3% year over year.
It registered double-digit year-over-year revenue growth in Finance, Energy, Forensic Service, and Risk, Investigations & Analytics practices.
Notably, Charles River’s shares have declined 15.7% year to date against 12.3% growth of the industry it belongs to.
Other Quarterly Details
The company delivered 69% utilization and headcount was up by 11.5% year over year. Non-GAAP EBITDA declined 4.8% year over year to $12 million. Non-GAAP EBITDA margin shrunk 110 basis points (bps) year over year to 9.8%.
The company exited the quarter with cash and cash equivalents of $24.1 million compared with $18.8 million witnessed at the end of the prior quarter. It used $33.6 million of cash in operating activities and capex was $2.2 million. In the quarter, Charles River paid out $1.8 million in dividend and repurchased shares worth $5 million.
Charles River Associates Price, Consensus and EPS Surprise
Charles River Associates price-consensus-eps-surprise-chart | Charles River Associates Quote
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 Inc. (EFX - Free Report) reported third-quarter 2020 adjusted earnings of $1.87 per share that beat the Zacks Consensus Estimate by 16.2% and improved 26.4% on a year-over-year basis. Revenues of $1.07 billion outpaced the consensus estimate by 5.9% and improved 22% year over year.
ManpowerGroup Inc. (MAN - Free Report) reported third-quarter 2020 earnings of $1.12 per share, beating the consensus mark by 90.5% but declining more than 37.5% year over year. Revenues of $4.58 billion surpassed the consensus mark by 8.7% but declined 12.7% year over year.
IHS Markit Ltd. recorded third-quarter fiscal 2020 adjusted earnings per share of 77 cents that surpassed the consensus estimate by 11.6% and increased 15% on a year-over-year basis. Total revenues came in at $1.07 billion, marginally surpassing the consensus mark but declining 4% from the year-ago quarter.
Have You Seen Zacks’ 2020 Election Stock Report?
The upcoming election could be a massive buying opportunity for savvy investors. Trillions of dollars will shift into new market sectors after the election. The question is, which sectors will soar for each candidate? Zacks has put together a new special report to help readers like you target big profits.
The 2020 Election Stock Report reveals specific stocks you’ll want to own immediately after the results are announced – 6 if Trump wins, 6 if Biden wins. Past election reports have led investors to gains of +71%, +83%, even +185% in the following months. This year’s picks could be even more lucrative.
Check out Zacks’ 2020 Election Stock Report >>