NASDAQ$FA
First Advantage Corporation · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
First Advantage's Q2 2024 results were announced, with revenues of $184.5 million and a net income of $1.9 million. The company reaffirmed its full-year 2024 guidance and expects the Sterling acquisition to close in Q4.
First Advantage reported revenues of $184.5 million for Q2 2024, a slight decrease of 0.4% compared to the previous year. Net income was $1.9 million, which includes $9.2 million of expenses related to the acquisition of Sterling Check Corp. The company reaffirmed its full-year 2024 guidance for revenues, Adjusted EBITDA, Adjusted Net Income, and Adjusted Diluted Earnings Per Share.
- Revenues reached $184.5 million.
- Net income was $1.9 million, with a 1.0% net income margin, including $9.2 million in Sterling acquisition expenses.
- Adjusted EBITDA was $55.8 million, resulting in a 30.2% Adjusted EBITDA margin.
- GAAP diluted net income per share was $0.01, including $0.06 per share in Sterling acquisition expenses.
Headline financials
Revenue & EPS history
First Advantage · Revenue · Quarterly
$185M
Forward guidance
First Advantage reaffirmed its full-year 2024 guidance, expecting revenues between $750 million and $800 million, Adjusted EBITDA between $228 million and $248 million, Adjusted Net Income between $127 million and $142 million, and Adjusted Diluted Earnings Per Share between $0.88 and $0.98.
Tailwinds
- Reaffirming full-year 2024 revenue guidance of $750 million - $800 million.
- Reaffirming full-year 2024 Adjusted EBITDA guidance of $228 million - $248 million.
- Reaffirming full-year 2024 Adjusted Net Income guidance of $127 million - $142 million.
- Reaffirming full-year 2024 Adjusted Diluted Earnings Per Share guidance of $0.88 - $0.98.
- Expect sequential quarter-over-quarter growth for revenues, Adjusted EBITDA, and Adjusted EBITDA Margin to continue through the second half of the year.
Headwinds
- Full-year 2024 guidance excludes contributions from the pending Sterling acquisition.
- Guidance is subject to risks and uncertainties described in the company's filings with the SEC.
- Actual results may differ materially from the provided guidance.
- Guidance reflects the current hiring environment and expectations that existing macroeconomic conditions will continue.
- High-end of guidance ranges reflect some macroeconomic recovery towards year end.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+7.9%
Avg return
Earnings day
+6.8%
Avg return
5 days after
+7.3%
Avg return
30 days after
76%
19 / 25 earnings
Positive
+23.0%
Q1 2026
Best reaction
-12.4%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +23.0% | +21.3% | +24.1% | |
| Q4 2025 | +22.8% | +24.3% | +17.1% | |
| Q3 2025 | +6.8% | +2.8% | +7.0% | |
| Q1 2025 | +19.0% | +19.1% | +21.4% | |
| Q4 2024 | -12.4% | -25.7% | -25.0% | |
| Q3 2024 | -3.0% | -5.8% | +5.2% | |
| Q2 2024 | +3.2% | +5.0% | +15.1% | |
| Q1 2024 | -1.5% | -0.7% | +1.4% | |
| Q4 2023 | -6.1% | -4.6% | -3.7% | |
| Q3 2023 | +2.2% | +5.2% | +17.4% | |
| Q2 2023 | +6.4% | +7.1% | -8.3% | |
| Q1 2023 | +0.2% | +4.8% | +9.5% | |
| Q4 2022 | +1.4% | +2.7% | +4.1% | |
| Q3 2022 | +11.6% | +18.4% | +29.3% | |
| Q2 2022 | -2.8% | +2.5% | -3.0% | |
| Q1 2022 | -5.4% | -1.9% | -9.4% | |
| Q4 2019 | +10.4% | +11.0% | +1.2% | |
| Q4 2021 | +10.4% | +11.0% | +1.2% | |
| Q3 2021 | +3.3% | -4.9% | -15.2% | |
| Q3 2020 | +3.3% | -4.9% | -15.2% | |
| Q4 2020 | +20.9% | +16.5% | +21.9% | |
| Q1 2021 | +20.9% | +16.5% | +21.9% | |
| Q2 2020 | +20.9% | +16.5% | +21.9% | |
| Q2 2021 | +20.9% | +16.5% | +21.9% | |
| Q1 2020 | +20.9% | +16.5% | +21.9% |
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