Huron Consulting Group (HURN) Q4 FY2021 earnings: revenue $261 million, up 30.3% on the year

Huron Consulting Group Inc. (HURN) reported revenue of $261 million for Q4 FY2021, the quarter ended 31 December 2021, up 30.3% on the same quarter a year earlier. Net income was $31 million, and diluted earnings per share $1.42. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.

Revenue$261 millionup 30.3%

Net income$31 million

Diluted EPS$1.42

QuarterQ4 FY2021ended 31 December 2021

The quarter, against the one before and a year earlier

Line	Q4 FY2021	Q3 FY2021	A year earlier	Change on the year
Revenue	261	228	n/a	n/a
Cost of revenue	186	159	n/a	n/a
Gross profit	74.3	69.0	n/a	n/a
Gross margin	28.5%	30.3%	n/a
Selling, general and administrative	49.4	43.5	n/a	n/a
Operating income	10.2	18.3	n/a	n/a
Operating margin	3.9%	8.0%	n/a
Pre-tax income	41.1	15.7	n/a	n/a
Income tax	10.1	2.0	n/a	n/a
Effective tax rate	24.5%	12.5%	n/a
Net income	31.1	13.7	n/a	n/a
Net margin	11.9%	6.0%	n/a
Diluted EPS	$1.42	$0.64	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. 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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q4 FY2021	Q3 FY2021	A year earlier	Change on the year
Operating cash flow	46.2	33.8	n/a	n/a
Capital expenditure	2.0	3.5	n/a	n/a
Free cash flow	44.2	30.3	n/a	n/a
Free cash flow margin	17.0%	13.3%	n/a
Cash from investing	-1.4	-5.0	n/a	n/a
Cash from financing	-35.2	-30.5	n/a	n/a
Depreciation and amortisation	6.7	6.3	n/a	n/a
Share-based compensation	7.9	6.4	n/a	n/a
Buybacks	4.4	25.0	n/a	n/a
Diluted shares, weighted	22m	22m	n/a	n/a
Shares outstanding at period end	22m	22m	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	Q4 FY2021	Q3 FY2021	A year earlier	Change on the year
Shareholders' equity	572	533	n/a	n/a
Debt	233	263	n/a	n/a
Operating lease liabilities	54.3	56.9	n/a	n/a
Other liabilities	260	197	n/a	n/a
Total liabilities and equity	1,119	1,050	n/a	n/a
Fixed assets	31.0	30.7	n/a	n/a
Goodwill	621	598	n/a	n/a
Intangible assets	31.9	16.7	n/a	n/a
Investments	72.6	68.2	n/a	n/a
Cash and equivalents	20.8	11.2	n/a	n/a
Receivables	122	112	n/a	n/a
Other assets	220	214	n/a	n/a
Total assets	1,119	1,050	n/a	n/a

Questions

What was Huron Consulting Group's revenue in Q4 FY2021?

Huron Consulting Group (HURN) reported revenue of $261 million for Q4 FY2021, the quarter ended 31 December 2021, up 30.3% on the same quarter a year earlier.

How much did Huron Consulting Group earn in Q4 FY2021?

Net income for Q4 FY2021 was $31 million, and diluted earnings per share $1.42.

When did Huron Consulting Group report Q4 FY2021 results?

Huron Consulting Group filed its 10-K for the year that ended with the quarter on 24 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q3 FY2021 †	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023 †	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	228	261	265	281	292	321	326	355	367	350	363	381	378	399	404	412	441	442	452	475
Cost of revenue	159	186	187	189	193	216	228	235	245	234	253	249	248	260	278	269	289	287	308	311
Gross profit	69.0	74.3	77.5	91.6	98.8	105	98.0	120	123	116	110	132	130	139	126	143	152	155	144	164
Gross margin	30%	28%	29%	33%	34%	33%	30%	34%	33%	33%	30%	35%	34%	35%	31%	35%	35%	35%	32%	34%
SG&A	43.5	49.4	48.4	46.0	54.5	60.5	62.3	64.6	64.3	66.8	72.7	71.4	70.4	70.6	76.6	80.2	81.3	79.9	84.7	89.8
Operating income	18.3	10.2	16.0	29.0	29.3	25.5	18.4	39.7	37.3	29.9	19.9	59.4	42.4	47.0	32.7	45.7	50.0	50.2	36.6	50.2
Operating margin	8%	4%	6%	10%	10%	8%	6%	11%	10%	9%	5%	16%	11%	12%	8%	11%	11%	11%	8%	11%
Pre-tax income	15.7	41.1	38.1	21.7	25.4	23.4	15.8	35.0	31.3	1.8	17.6	52.1	37.6	46.8	21.5	27.7	42.6	43.3	27.1	42.9
Tax rate	13%	25%	30%	36%	30%	27%	15%	29%	31%	-60%	-3%	28%	28%	27%	-14%	30%	29%	29%	14%	27%
Net income	13.7	31.1	26.9	13.9	17.7	17.1	13.4	24.7	21.5	2.8	18.0	37.5	27.1	34.0	24.5	19.4	30.4	30.7	23.2	31.2
Net margin	6%	12%	10%	5%	6%	5%	4%	7%	6%	1%	5%	10%	7%	9%	6%	5%	7%	7%	5%	7%
Diluted EPS	$0.64	$1.42	$1.27	$0.66	$0.86	$0.85	$0.68	$1.27	$1.10	$0.15	$0.95	$2.03	$1.47	$1.84	$1.33	$1.09	$1.71	$1.72	$1.34	$1.91
Operating cash flow	33.8	46.2	-79.1	28.9	44.5	91.2	-92.1	78.2	68.8	80.4	-131	107	85.2	140	-107	80.0	93.8	126	-162	120
Capital expenditure	3.5	2.0	3.9	2.9	3.0	2.8	2.0	1.8	1.4	4.3	1.2	2.5	2.4	2.6	1.9	2.0	4.0	2.6	5.7	5.2
Free cash flow	30.3	44.2	-83.0	26.0	41.5	88.4	-94.1	76.5	67.4	76.1	-132	105	82.8	137	-109	78.0	89.8	124	-168	115
Buybacks	25.0	4.4	24.1	28.3	43.0	24.9	45.1	15.2	28.5	33.9	61.0	36.3	7.3	18.5	65.3	69.1	18.7	13.6	153	53.5
Shares outstanding	22m	22m	21m	21m	20m	19m	19m	19m	19m	18m	18m	18m	18m	18m	17m	17m	17m	17m	16m	16m
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	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 its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 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.

10-K for the period ended 31 December 2021, filed 24 February 2022: the filing.