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HCKT Nasdaq· The Hackett Group Inc.
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HCKT Nasdaq· The Hackett Group Inc.
Earnings report Q3 2023

HCKT Reports Solid Revenue Growth in Latest Quarter

Segments of Revenue

  • HCKT reported total revenue of $75.86 million for the quarter ended September 29, 2023, compared to $72.03 million in the same quarter last year.
  • Revenue before reimbursements increased to $74.63 million from $70.99 million in the prior year quarter.
  • Reimbursements contributed $1.22 million to the total revenue, up from $1.04 million in the same quarter last year.

Strengths

  • HCKT demonstrated solid revenue growth in the latest quarter, with total revenue increasing by 5.3% compared to the same quarter last year.
  • The increase in revenue before reimbursements can be attributed to the company's ability to attract new clients and expand its existing client base.
  • HCKT's strong performance in revenue reflects the effectiveness of its business strategies and the demand for its services.

Challenges

  • While HCKT reported overall revenue growth, the company also experienced an increase in costs and expenses.
  • Personnel costs before reimbursable expenses rose to $44.42 million from $42.87 million in the prior year quarter.
  • HCKT needs to carefully manage its costs to ensure that the increase in expenses does not outweigh the revenue growth.

Noteworthy

  • HCKT operates in different segments, including Global S&BT, Oracle Solutions, and SAP Solutions.
  • Global S&BT segment generated the highest revenue of $43.80 million in the latest quarter, followed by Oracle Solutions with $20.83 million and SAP Solutions with $11.23 million.
  • Segment profit for Global S&BT was $13.95 million, while Oracle Solutions and SAP Solutions reported segment profits of $5.03 million and $2.86 million, respectively.

Summary

HCKT delivered a strong performance in the latest quarter, with solid revenue growth of 5.3% compared to the same quarter last year. The company's ability to attract new clients and expand its existing client base contributed to the increase in revenue before reimbursements. However, HCKT also faced challenges with rising costs and expenses, particularly in personnel costs. The company needs to carefully manage its expenses to ensure sustainable growth. Overall, HCKT's performance reflects the effectiveness of its business strategies and the demand for its services in the market.

Source documents

Form 10-Q  filed on Nov 08, 2023
109 pages scanned

Reference data

Company financials Q3 revenue 71.2M
Analyst estimates Q3 EPS missed by -0.85%
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