Resources Connection up 2% on Q3 earnings, upside guidance [Seeking Alpha]
RESOURCES CONNECTION (RECN)
Last resources connection earnings: 1/2 04:05 pm
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US:NASDAQ Investor Relations:
ir.rgp.com
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Source: Seeking Alpha
Resources Connection up 2% on Q3 earnings, upside guidanceResources Connection (RECN+1.6%) reported Q3 revenue growth of 19.9% Y/Y to $172.4M owing to additional revenue from the recent acquisitions of Accretive Solutions $17.3M and Taskforce $3.8M.Segment Revenues: US +14.9% Y/Y, International +41.6% Y/Y, Europe +61%Y/Y and Asia Pacific +9.4% Y/Y.Gross margin for Q3 was flat at 36.3% and operating margindeclined by 116 bps to 3%. SG&A expense margindeclined by 51 bps to 32.06%Adjusted EBITDA margindown 79 bps to 5.03%.Q3 average hourly bill rate was ~$123 and average pay rate was ~$63.Q4 Outlook: Revenue $178-182M vs $177.85M consensus; gross margin 38-39%; SG&A $54.5-$55.5M; tax rate 36%.Previously:Resources Connection beats by $0.03, beats on revenue (April 4)TranscriptSee all stocks on the move »Now read:Aramco unexpectedly hikes prices; WTI crude jumps 1% »
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