Q2 2024 Hackett Group Inc Earnings Call Transcript
Key Points
- Total revenues of $77.7 million and revenues before reimbursements of $75.9 million, which was above the high end of guidance.
- Adjusted earnings per share of $0.39, at the high end of guidance.
- Strong performance in Oracle and SAP segments, with Oracle revenues increasing by 9% year-over-year.
- Increased demand for enterprise performance management offerings, benefiting from Oracle's sales commitment.
- Significant enhancements to AI XPLR platform, with version 2 expected to improve conversion rates and expand opportunities.
- Global strategy and business transformation segment revenues down 3% year-over-year due to economic headwinds and extended decision-making.
- Low project conversions from AI XPLR meetings despite high initial interest.
- E-procurement offerings particularly impacted by extended client decision-making.
- Total company consultant headcount slightly decreased from the previous quarter and the same period last year.
- Adjusted SG&A expenses increased to $16.8 million, representing 22.1% of revenues before reimbursements, up from 21.5% in the prior year.
Welcome to The Hackett Group second-quarter earnings conference call. (Operator Instructions)
Please be advised the conference is being recorded. Hosting tonight's call are Mr. Ted Fernandez, Chairman and CEO; and Mr. Rob Ramirez, Chief Financial Officer.
Mr. Ramirez, you may begin.
Good afternoon, everyone, and thank you for joining us to discuss The Hackett Group's second-quarter results. Speaking on the call today and here to answer your questions are Ted Fernandez, Chairman and CEO of The Hackett Group; and myself, Rob Ramirez, Chief Financial Officer. A press announcement was released over the wires at 4:05 PM Eastern Time. For a copy of the release, please visit our website at www.thehackettgroup.com. We will also place any additional financial or statistical data discussed on this call that is not contained in the release on the Investor Relations page of our website.
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