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Charles River's (CRAI) Q4 Earnings Beat Estimates, Decline Y/Y
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CRA International, Inc., which conducts business as Charles River Associates (CRAI - Free Report) , reported mixed fourth-quarter 2021 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Non-GAAP EPS came in at $1.14, which beat the Zacks Consensus Estimate by 8.6% and increased 20% year over year. Revenues of $134.8 million lagged the consensus mark by 2.4% and decreased 1.9% year over year.
Notably, the company had one less operating week in the reported quarter compared with the fourth quarter of 2020. After a pro-rata adjustment to the year-ago quarter, revenues were up 5.6% year over year. The company recorded double-digit revenue growth in Energy and Risk, Antitrust & Competition Economics, and Investigations & Analytics practices.
Charles River’s shares have gained 31.8% over the past year, significantly outperforming the 28.3% growth of the industry it belongs to.
Other Quarterly Details
Charles River delivered 72% utilization while headcount was up by 3.6% year over year. Non-GAAP EBITDA increased 9.1% year over year to $15.2 million. Non-GAAP EBITDA margin expanded 110 basis points year over year to 11.9%.
The company exited the quarter with cash and cash equivalents of $66.1 million compared with $19.7 million witnessed at the end of the prior quarter. It generated $61.8 million of cash from operating activities, and capex was $893 million. In the quarter, Charles River paid out $2.4 million in dividends and repurchased shares worth $5 million.
Charles River Associates Price, Consensus and EPS Surprise
For 2022, on a constant currency basis relative to 2021, Charles River anticipates revenues between $585 million and $605 million. Non-GAAP EBITDA margin is expected in the range of 10.8% to 11.5%.
Currently, Charles River carries a Zacks Rank #3 (Hold).
Performance of Some Other Business Services Companies
Robert Half International (RHI - Free Report) delivered fourth-quarter 2021 earnings of $1.51 per share that beat the consensus mark by 5.6% and rose 79.8% year over year.
Revenues of $1.77 billion surpassed the consensus mark by 4.3% and increased 36.2% year over year on a reported basis and 36% on an as-adjusted basis. RHI currently carries a Zacks Rank #2 (Buy).
Automatic Data Processing (ADP - Free Report) reported better-than-expected second-quarter fiscal 2022 results. Adjusted EPS of $1.65 beat the Zacks Consensus Estimate by 1.2% and rose 9% year over year.
Total revenues of $4.03 billion beat the consensus mark by 1.1% and increased 9% year over year. ADP currently carries a Zacks Rank #2.
Rollins (ROL - Free Report) reported mixed fourth-quarter 2021 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same. Adjusted earnings of 14 cents per share met the Zacks Consensus Estimate and increased 7.7% year over year.
Revenues of $600.3 million beat the consensus mark by 3.3% and rose 11.9% year over year. ROL currently carries a Zacks Rank #2.
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Charles River's (CRAI) Q4 Earnings Beat Estimates, Decline Y/Y
CRA International, Inc., which conducts business as Charles River Associates (CRAI - Free Report) , reported mixed fourth-quarter 2021 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Non-GAAP EPS came in at $1.14, which beat the Zacks Consensus Estimate by 8.6% and increased 20% year over year. Revenues of $134.8 million lagged the consensus mark by 2.4% and decreased 1.9% year over year.
Notably, the company had one less operating week in the reported quarter compared with the fourth quarter of 2020. After a pro-rata adjustment to the year-ago quarter, revenues were up 5.6% year over year. The company recorded double-digit revenue growth in Energy and Risk, Antitrust & Competition Economics, and Investigations & Analytics practices.
Charles River’s shares have gained 31.8% over the past year, significantly outperforming the 28.3% growth of the industry it belongs to.
Other Quarterly Details
Charles River delivered 72% utilization while headcount was up by 3.6% year over year. Non-GAAP EBITDA increased 9.1% year over year to $15.2 million. Non-GAAP EBITDA margin expanded 110 basis points year over year to 11.9%.
The company exited the quarter with cash and cash equivalents of $66.1 million compared with $19.7 million witnessed at the end of the prior quarter. It generated $61.8 million of cash from operating activities, and capex was $893 million. In the quarter, Charles River paid out $2.4 million in dividends 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
2022 Guidance
For 2022, on a constant currency basis relative to 2021, Charles River anticipates revenues between $585 million and $605 million. Non-GAAP EBITDA margin is expected in the range of 10.8% to 11.5%.
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 Some Other Business Services Companies
Robert Half International (RHI - Free Report) delivered fourth-quarter 2021 earnings of $1.51 per share that beat the consensus mark by 5.6% and rose 79.8% year over year.
Revenues of $1.77 billion surpassed the consensus mark by 4.3% and increased 36.2% year over year on a reported basis and 36% on an as-adjusted basis. RHI currently carries a Zacks Rank #2 (Buy).
Automatic Data Processing (ADP - Free Report) reported better-than-expected second-quarter fiscal 2022 results. Adjusted EPS of $1.65 beat the Zacks Consensus Estimate by 1.2% and rose 9% year over year.
Total revenues of $4.03 billion beat the consensus mark by 1.1% and increased 9% year over year. ADP currently carries a Zacks Rank #2.
Rollins (ROL - Free Report) reported mixed fourth-quarter 2021 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same. Adjusted earnings of 14 cents per share met the Zacks Consensus Estimate and increased 7.7% year over year.
Revenues of $600.3 million beat the consensus mark by 3.3% and rose 11.9% year over year. ROL currently carries a Zacks Rank #2.