CRA Reports Mixed Q4 Results, Declares Dividend

CRA International Inc CRAI reported a fourth-quarter revenue decline of 1.9% year-over-year to $134.8 million, missing the consensus of $138.04 million.
Revenue increased by 5.6% Y/Y after making a one-week, pro-rata adjustment to 4Q20, which had one more operating week than in 2021.
Utilization was 72%, and quarter-end headcount increased 3.6% Y/Y.
Adjusted EPS improved 20% Y/Y to $1.14, beating the consensus of $1.05.
Also Read: CRA Acquires Welch Consulting For Undisclosed Sum
The operating income increased by 19.6% Y/Y to $12.36 million, and the margin expanded by 165 bps to 9.2%.
Non-GAAP EBITDA improved by 9.1% Y/Y to $15.23 million, and the margin expanded by 114 bps to 11.3%.
CRA generated cash from operating activities of $75.69 million in FY21, compared to $54.66 million a year ago.
Dividend: The company declared a quarterly cash dividend of $0.31 per common share, payable on March 25, 2022, to shareholders of record as of March 15, 2022.
FY22 Outlook: The company expects revenue of $585 million - $605 million (consensus $588.19 million) and a non-GAAP EBITDA margin of 10.8% - 11.5%.
Price Action: CRAI shares are trading lower by 1.34% at $89.47 on the last check Thursday.

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