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Charles River (CRAI) Beats on Q1 Earnings Amid Coronavirus Crisis
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Charles River Associates (CRAI - Free Report) reported solid first-quarter 2020 results, with earnings and revenues beating the Zacks Consensus Estimate.
Non-GAAP EPS came in at 84 cents, which beat the Zacks Consensus Estimate by 31.3% and jumped 55.6% year over year. Revenues of $126.2 million surpassed the consensus mark by 8.6% and increased 19.2% year over year.
The company recorded the highest quarterly revenues in its history. It registered double-digit year-over-year revenue growth in Finance, Energy, Forensic Services and Labor & Employment practices.
Given the uncertainty regarding the duration of the coronavirus pandemic and extent of its impact on the company’s business, Charles River has withdrawn its 2020 guidance.
Charles River’s shares have depreciated 29.2%, year to date, compared with the 13.5% decline of the industry it belongs to.
Other Quarterly Details
The company delivered 71% utilization and headcount was up by 16.3%. Non-GAAP EBITDA climbed 51.5% year over year to $12.9 million. Non-GAAP EBITDA margin shrunk 220 basis points (bps) year over year to 10.2%.
The company exited the first quarter with cash and cash equivalents of $15.8 million compared with $25.6 million witnessed at the end of the prior quarter. It generated $65.4 million of cash from operating activities and capex was $7.9 million. In the quarter, Charles River paid out $1.8 million of dividend and repurchased shares for $3.8 million.
The Interpublic Group (IPG - Free Report) reported first-quarter 2020 adjusted earnings of 11 cents per share, which beat the consensus mark by 22.2% but remained flat year over year.
Equifax (EFX - Free Report) delivered first-quarter 2020 adjusted earnings of $1.40 per share, which outpaced the consensus mark by 8.5% and improved 16% on a year-over-year basis.
ManpowerGroup (MAN - Free Report) recorded first-quarter 2020 adjusted earnings of 71 cents per share, which missed the Zacks Consensus Estimate by 2.7% and slumped 48.9% year over year.
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Charles River (CRAI) Beats on Q1 Earnings Amid Coronavirus Crisis
Charles River Associates (CRAI - Free Report) reported solid first-quarter 2020 results, with earnings and revenues beating the Zacks Consensus Estimate.
Non-GAAP EPS came in at 84 cents, which beat the Zacks Consensus Estimate by 31.3% and jumped 55.6% year over year. Revenues of $126.2 million surpassed the consensus mark by 8.6% and increased 19.2% year over year.
Charles River Associates Revenue (TTM)
Charles River Associates revenue-ttm | Charles River Associates Quote
The company recorded the highest quarterly revenues in its history. It registered double-digit year-over-year revenue growth in Finance, Energy, Forensic Services and Labor & Employment practices.
Given the uncertainty regarding the duration of the coronavirus pandemic and extent of its impact on the company’s business, Charles River has withdrawn its 2020 guidance.
Charles River’s shares have depreciated 29.2%, year to date, compared with the 13.5% decline of the industry it belongs to.
Other Quarterly Details
The company delivered 71% utilization and headcount was up by 16.3%. Non-GAAP EBITDA climbed 51.5% year over year to $12.9 million. Non-GAAP EBITDA margin shrunk 220 basis points (bps) year over year to 10.2%.
The company exited the first quarter with cash and cash equivalents of $15.8 million compared with $25.6 million witnessed at the end of the prior quarter. It generated $65.4 million of cash from operating activities and capex was $7.9 million. In the quarter, Charles River paid out $1.8 million of dividend and repurchased shares for $3.8 million.
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
The Interpublic Group (IPG - Free Report) reported first-quarter 2020 adjusted earnings of 11 cents per share, which beat the consensus mark by 22.2% but remained flat year over year.
Equifax (EFX - Free Report) delivered first-quarter 2020 adjusted earnings of $1.40 per share, which outpaced the consensus mark by 8.5% and improved 16% on a year-over-year basis.
ManpowerGroup (MAN - Free Report) recorded first-quarter 2020 adjusted earnings of 71 cents per share, which missed the Zacks Consensus Estimate by 2.7% and slumped 48.9% year over year.
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Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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