RGP Q2 revenue falls 18.6% to $163.1M; EPS drops to $0.14 from $0.51

RESOURCES CONNECTION, INC.

2024-Q2 EPS reported $0.24 revenue$333,296,000

Revenue $163.1M (-18.6% YoY); same-day constant currency revenue down 19.2%.
Net income $4.9M ($0.14 diluted EPS) vs $17.4M ($0.51) in prior year quarter.
Gross margin 38.9% (down 220 bps) on higher pay/bill ratio and healthcare costs.
Adjusted EBITDA $16.1M (9.8% margin) vs $29.6M (14.8%); dividend $0.14/share unchanged.
Closed CloudGo acquisition Nov 15; not material. $2.3M severance from workforce reduction.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RESOURCES CONNECTION, INC. reported fiscal second quarter ended November 25, 2023 results: revenue $163.1 million, net income $4.9 million, EPS $0.14 per diluted share.

Period: fiscal second quarter ended November 25, 2023
Revenue: $163.1 million
Net income: $4.9 million
EPS: $0.14 per diluted share
Result: reported results

Exact text from the filing

Second Quarter Fiscal 2024 Highlights Compared to the Prior Year Quarter: Revenue of $163.1 million compared to $200.4 million Same-day constant currency revenue, a non-GAAP measure, declined 19.2% Gross margin of 38.9% compared to 41.1% Net income of $4.9 million (net income margin of 3.0%), compared to $17.4 million (net income margin of 8.7%) Diluted earnings per common share of $0.14 compared to $0.51

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Source: SEC EDGAR

accession 0001157523-24-000004

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