Hackett Group Q3 adjusted EPS beats estimates
HCKT•Hackett Group reported Q3 adjusted EPS of $0.39, above the $0.37 estimate, while adjusted revenue declined to $68.9 million. It expects Q4 revenue before reimbursements of $68 million to $70 million and adjusted diluted EPS of $0.39 to $0.41.
1. Quarterly results
Hackett Group reported Q3 revenue of $69.8 million and adjusted revenue of $68.9 million. Adjusted EPS was $0.39, beating the $0.37 analyst estimate; reported EPS was $0.14. The company repurchased $2.5 million of stock during the quarter and incurred $1.4 million in restructuring costs.
2. Outlook and operations
For Q4, the company expects revenue before reimbursements of $68 million to $70 million and adjusted diluted EPS of $0.39 to $0.41. It anticipates operating cash flow will increase by $15 million to $20 million sequentially. The company said expanding use of its XT and AIX AI platforms is beginning to improve sales and delivery productivity; SAP Solutions revenue and contribution increased, while Global S&BT revenue declined.
