- \n
- \nTotal revenues increased $57.8 million, or 22.2%, to $317.9 million in Q1 2023 from $260.0 million in Q1 2022.<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nRevenues within the Digital capability increased 28.5% to $140.7 million in Q1 2023, compared to $109.5 million in Q1 2022.<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nNet income was $13.4 million in Q1 2023, compared to $26.9 million in Q1 2022. Results for Q1 2022 included a non-recurring, unrealized gain of $19.8 million, net of tax, related to the company’s investment in a hospital-at-home company.<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nAdjusted EBITDA(6)<\/sup>, a non-GAAP measure, increased $7.4 million, or 33.4%, to $29.5 million in Q1 2023 from $22.1 million in Q1 2022.<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nDiluted earnings per share was $0.68 in Q1 2023, compared to $1.27 in Q1 2022 which included the non-recurring, unrealized gain related to the company’s investment in a hospital-at-home company.<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nAdjusted diluted earnings per share(6)<\/sup>, a non-GAAP measure, increased $0.38, or 77.6%, to $0.87 in Q1 2023 from $0.49 in Q1 2022.<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nHuron returned $44.3 million to shareholders by repurchasing 0.6 million shares of the company’s common stock in Q1 2023.<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nHuron affirms its previous earnings guidance range for full year 2023, including revenue expectations in a range of $1.22 billion to $1.28 billion.<\/p>\n<\/li>\n<\/ul>\n
OTHER HIGHLIGHTS<\/b><\/p>\n
- \n
- \nHuron released its 2022 Environmental, Social and Governance (ESG) Report<\/a>, which reiterates the company’s commitment to shaping a more sustainable future.<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nHuron amended its credit facility to include ESG-related measures that align the company’s financing and people-focused goals.<\/p>\n<\/li>\n<\/ul>\n
- \n
- \nHuron introduced its 2023 Investor Presentation<\/a>, which provides insight into the company and its commitment to achieving its strategic and financial objectives.<\/p>\n<\/li>\n<\/ul>\n
CHICAGO–(BUSINESS WIRE<\/a>)–
\nGlobal professional services firm Huron (NASDAQ: HURN) today announced financial results for the first quarter ended March 31, 2023.<\/p>\n\n\u201cOur first quarter results reflect our steady progress toward achieving the medium-term financial objectives we set forth in 2022 for double-digit revenue growth, expanded adjusted EBITDA margins, and accelerated adjusted EPS growth,\u201d said Mark Hussey<\/a>, chief executive officer and president of Huron<\/a>. \u201cDriven by strong growth across all three operating segments and in our Digital capability, revenues grew 22% over the prior year quarter, reflecting continued demand across our portfolio of end markets. Consistent with our goal to expand our profitability, adjusted EBITDA margins increased 80 basis points over the prior year quarter.\u201d<\/p>\n
\n\u201cOur clients face significant strategic, financial and operational challenges in their markets, exacerbated by an increasingly uncertain macro environment. We believe these challenges will continue to drive solid demand for our business as we further innovate and build upon our deep, collaborative relationships with our clients,\u201d added Hussey<\/a>.<\/p>\n
FIRST QUARTER 2023 RESULTS<\/b><\/p>\n
\nRevenues increased $57.8 million, or 22.2%, to $317.9 million for the first quarter of 2023, compared to $260.0 million for the first quarter of 2022. This revenue growth was highlighted by 28.5% growth from the Digital capability in the aggregate across all segments and growth in the Healthcare and Education segments’ Consulting and Managed Services capability of 21.5% and 20.5%, respectively, during the first quarter of 2023, compared to the same prior year period, which reflects the company’s focus on accelerating growth in the healthcare and education industries.<\/p>\n
\nNet income was $13.4 million for the first quarter of 2023, compared to $26.9 million for the same quarter last year. Diluted earnings per share was $0.68 for the first quarter of 2023, compared to $1.27 for the first quarter of 2022. Results for the first quarter of 2022 included a non-recurring, unrealized gain of $19.8 million, net of tax, related to the increase in fair value of the company’s investment in a hospital-at-home company.<\/p>\n
\nFirst quarter 2023 earnings before interest, taxes, depreciation and amortization (“EBITDA”)(6) <\/sup>was $26.7 million, compared to $47.4 million in the same prior year period.<\/p>\n
\nIn addition to using EBITDA to evaluate the company\u2019s financial performance, management uses other non-GAAP financial measures, which exclude the effect of the following items (in thousands):<\/p>\n
- \nHuron introduced its 2023 Investor Presentation<\/a>, which provides insight into the company and its commitment to achieving its strategic and financial objectives.<\/p>\n<\/li>\n<\/ul>\n
- \nHuron amended its credit facility to include ESG-related measures that align the company’s financing and people-focused goals.<\/p>\n<\/li>\n<\/ul>\n
- \nHuron released its 2022 Environmental, Social and Governance (ESG) Report<\/a>, which reiterates the company’s commitment to shaping a more sustainable future.<\/p>\n<\/li>\n<\/ul>\n
- \nHuron affirms its previous earnings guidance range for full year 2023, including revenue expectations in a range of $1.22 billion to $1.28 billion.<\/p>\n<\/li>\n<\/ul>\n
- \nHuron returned $44.3 million to shareholders by repurchasing 0.6 million shares of the company’s common stock in Q1 2023.<\/p>\n<\/li>\n<\/ul>\n
- \nAdjusted diluted earnings per share(6)<\/sup>, a non-GAAP measure, increased $0.38, or 77.6%, to $0.87 in Q1 2023 from $0.49 in Q1 2022.<\/p>\n<\/li>\n<\/ul>\n
- \nDiluted earnings per share was $0.68 in Q1 2023, compared to $1.27 in Q1 2022 which included the non-recurring, unrealized gain related to the company’s investment in a hospital-at-home company.<\/p>\n<\/li>\n<\/ul>\n
- \nAdjusted EBITDA(6)<\/sup>, a non-GAAP measure, increased $7.4 million, or 33.4%, to $29.5 million in Q1 2023 from $22.1 million in Q1 2022.<\/p>\n<\/li>\n<\/ul>\n
- \nNet income was $13.4 million in Q1 2023, compared to $26.9 million in Q1 2022. Results for Q1 2022 included a non-recurring, unrealized gain of $19.8 million, net of tax, related to the company’s investment in a hospital-at-home company.<\/p>\n<\/li>\n<\/ul>\n
- \nRevenues within the Digital capability increased 28.5% to $140.7 million in Q1 2023, compared to $109.5 million in Q1 2022.<\/p>\n<\/li>\n<\/ul>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20230502005454\/en\/1780124\/3\/Huron_Logo_-_Side_by_Side.jpg\"){kind=logo}
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