- Resources Connection, Inc. RGP reported third-quarter revenue growth of 30.6% year-over-year to $204.6 million, +31.5% constant currency basis, beating the consensus of $195.1 million.
- The gross margin expanded by 110 bps to was 37.5%, attributable to an improvement of 120 basis points in the overall pay/bill ratio.
- The average bill rate improved by $2 to $128, and the average pay rate remained stable at $64.
- Adjusted EPS improved to $0.65 from $0.14 in 3Q21, beating the consensus of $0.40.
- SG&A as a percent of revenue enhanced 580 bps to 27.9% of revenue.
- Adjusted EBITDA increased to $22.5 million from $9.47 million a year ago, and margin improved by 490 bps to 11%
- Resources Connection cash from operating activities YTD was $22.67 million, compared to $35.37 million a year ago.
- Price Action: RGP shares are trading higher by 5.38% at $ 17.81 during the post-market session on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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