Exponent (EXPO) Q2 FY2024 earnings: revenue $141 million, up 0.2% on the year

Exponent Inc. (EXPO) reported revenue of $141 million for Q2 FY2024, the quarter ended 28 June 2024, up 0.2% on the same quarter a year earlier. Net income was $29 million, up 13.5% on the year, and diluted earnings per share $0.57. The figures are the company's own, from the 10-Q it filed with the SEC on 2 August 2024.

Revenue$141 millionup 0.2%

Net income$29 millionup 13.5%

Diluted EPS$0.57

QuarterQ2 FY2024ended 28 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	141	145	n/a	n/a
Operating income	35.7	30.7	n/a	n/a
Operating margin	25.4%	21.2%	n/a
Pre-tax income	39.7	40.4	n/a	n/a
Income tax	10.5	10.3	n/a	n/a
Effective tax rate	26.3%	25.4%	n/a
Net income	29.2	30.1	n/a	n/a
Net margin	20.8%	20.8%	n/a
Diluted EPS	$0.57	$0.59	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	48.3	10.4	n/a	n/a
Capital expenditure	1.1	1.5	n/a	n/a
Free cash flow	47.2	8.9	n/a	n/a
Free cash flow margin	33.6%	6.2%	n/a
Cash from investing	-1.1	-1.5	n/a	n/a
Cash from financing	-12.6	-27.2	n/a	n/a
Depreciation and amortisation	2.5	2.3	n/a	n/a
Share-based compensation	5.6	7.3	n/a	n/a
Buybacks	0.2	5.5	n/a	n/a
Dividends paid	14.2	14.2	n/a	n/a
Dividend per share	$0.28	$0.28	n/a	n/a
Diluted shares, weighted	52m	51m	n/a	n/a
Shares outstanding at period end	51m	51m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	393	374	n/a	n/a
Operating lease liabilities	70.4	21.4	n/a	n/a
Other liabilities	246	234	n/a	n/a
Total liabilities and equity	709	629	n/a	n/a
Fixed assets	73.0	74.5	n/a	n/a
Goodwill	8.6	8.6	n/a	n/a
Cash and equivalents	203	169	n/a	n/a
Receivables	166	163	n/a	n/a
Other assets	258	215	n/a	n/a
Total assets	709	629	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	133	123	145	141	136	137	146	142	147	147	166	172
Operating income	33.9	18.4	30.7	35.7	25.8	27.3	44.4	17.2	29.0	29.1	41.4	28.0
Operating margin	25%	15%	21%	25%	19%	20%	31%	12%	20%	20%	25%	16%
Pre-tax income	34.0	30.1	40.4	39.7	35.9	31.3	37.8	36.8	38.6	34.1	42.3	40.8
Tax rate	28%	30%	25%	26%	28%	25%	29%	28%	27%	27%	30%	28%
Net income	24.5	20.9	30.1	29.2	26.0	23.6	26.6	26.6	28.0	24.8	29.6	29.4
Net margin	18%	17%	21%	21%	19%	17%	18%	19%	19%	17%	18%	17%
Diluted EPS	$0.48	$0.41	$0.59	$0.57	$0.50	$0.46	$0.52	$0.52	$0.55	$0.49	$0.59	$0.60
Operating cash flow	22.2	71.3	10.4	48.3	29.7	56.1	7.3	36.2	32.7	55.6	-1.0	30.9
Capital expenditure	3.3	1.9	1.5	1.1	1.7	2.6	1.8	2.3	2.7	2.7	2.5	1.8
Free cash flow	18.9	69.4	8.9	47.2	28.0	53.5	5.5	33.9	30.0	52.9	-3.4	29.1
Buybacks	n/a	n/a	5.5	0.2	-0.0	0.0	n/a	n/a	40.0	n/a	78.8	67.4
Dividends paid	13.2	13.1	14.2	14.2	14.2	14.2	15.2	15.2	15.1	14.9	16.6	14.8
Shares outstanding	51m	51m	51m	51m	51m	51m	51m	51m	50m	49m	49m	48m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 28 June 2024, filed 2 August 2024, accession 0000950170-24-089943: the filing on EDGAR. All of Exponent Inc.'s filings: EDGAR company page.

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