NASDAQ$RGP
Resources Connection Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Resources Connection's financial performance declined in Q2 2024 due to a challenging macroeconomic environment, but the company focused on strategic initiatives and delivered revenue and SG&A results towards the favorable end of outlook ranges.
Resources Connection reported a decrease in revenue to $163.1 million compared to $200.4 million in the prior year quarter. Net income also decreased to $4.9 million, with diluted earnings per share at $0.14. The company is focused on expanding consulting capabilities and improving operating efficiency.
- Revenue decreased to $163.1 million compared to $200.4 million year-over-year.
- Net income declined to $4.9 million, with a net income margin of 3.0%.
- Diluted earnings per share were $0.14, down from $0.51 in the prior year quarter.
- The company is focused on expanding consulting capabilities and improving operating efficiency in response to the uncertain macro environment.
Headline financials
Revenue & EPS history
Resources Connection · Revenue · Quarterly
$163M
Forward guidance
The company is cautiously optimistic that the buying environment and revenue growth will improve in calendar year 2024. They are focused on expanding capabilities in digital transformation and technology services, extending offshore talent strategies, and delivering on technology transformation projects.
Tailwinds
- Strong client retention
- Depth of conversations with largest clients
- Expanding consulting capabilities in digital transformation and technology services
- Extending offshore talent strategies by building Centers of Excellence in India and the Philippines
- Delivering on technology transformation project to drive better operating efficiency
Headwinds
- Clients continuing to take longer to approve budgets
- Clients taking longer to green light significant new projects
- Persistently uncertain macro environment
- Billable hours decreased by 15.1%
- Average bill rate declined by 4.7%
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
-2.0%
Avg return
Earnings day
-2.4%
Avg return
5 days after
-2.1%
Avg return
30 days after
44%
30 / 68 earnings
Positive
+17.6%
Q1 2022
Best reaction
-19.8%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +0.5% | +7.1% | +26.4% | |
| Q2 2026 | -14.6% | +3.8% | -2.9% | |
| Q1 2026 | -4.2% | -14.1% | -9.7% | |
| Q4 2025 | +0.0% | -1.3% | -12.1% | |
| Q3 2025 | -19.8% | -23.1% | -12.2% | |
| Q2 2025 | +6.4% | +4.0% | -1.5% | |
| Q1 2025 | -13.9% | -13.7% | -17.0% | |
| Q4 2024 | +2.1% | +0.6% | -7.2% | |
| Q3 2024 | -9.9% | -5.2% | -11.3% | |
| Q2 2024 | -4.4% | -6.7% | -4.7% | |
| Q1 2024 | -7.1% | -2.8% | -4.3% | |
| Q4 2023 | +4.8% | -0.8% | -3.5% | |
| Q3 2023 | -10.5% | -8.1% | -16.4% | |
| Q2 2023 | -16.8% | -8.1% | -2.4% | |
| Q1 2023 | -13.6% | -12.9% | -3.7% | |
| Q4 2022 | +4.7% | +6.8% | -0.1% | |
| Q3 2022 | +5.7% | +4.0% | -1.1% | |
| Q2 2022 | +8.0% | +2.0% | -4.4% | |
| Q1 2022 | +17.6% | +9.5% | +14.1% | |
| Q4 2021 | +15.3% | +19.5% | +18.4% | |
| Q3 2021 | +1.7% | +2.5% | +8.8% | |
| Q2 2021 | -3.8% | -6.3% | -0.9% | |
| Q1 2021 | -1.1% | +3.0% | -6.5% | |
| Q4 2020 | -9.0% | -5.7% | +5.4% | |
| Q3 2020 | -5.6% | -0.2% | +4.6% | |
| Q2 2020 | +6.6% | +1.0% | -6.7% | |
| Q1 2020 | -10.8% | -15.5% | -11.6% | |
| Q4 2019 | +1.8% | +2.8% | +3.8% | |
| Q3 2019 | -11.7% | -5.6% | +0.1% | |
| Q2 2019 | +13.1% | +15.0% | +19.5% | |
| Q1 2019 | +15.0% | +11.1% | -0.7% | |
| Q4 2018 | -17.0% | -11.4% | -6.4% | |
| Q3 2018 | -0.3% | -2.2% | -1.3% | |
| Q2 2018 | -0.3% | +5.4% | +3.8% | |
| Q1 2018 | +5.6% | +4.2% | +10.9% | |
| Q4 2017 | -6.5% | -8.6% | -16.2% | |
| Q3 2017 | -16.3% | -17.5% | -17.2% | |
| Q2 2017 | -11.6% | -12.9% | -14.4% | |
| Q1 2017 | -11.4% | -10.4% | -1.2% | |
| Q4 2016 | -3.9% | -3.8% | -2.5% | |
| Q3 2016 | -11.9% | — | — | |
| Q2 2016 | -14.2% | — | — | |
| Q1 2016 | +6.6% | — | — | |
| Q4 2015 | -5.1% | — | — | |
| Q3 2015 | -6.0% | — | — | |
| Q2 2015 | +7.7% | — | — | |
| Q1 2015 | +0.2% | — | — | |
| Q4 2014 | +14.5% | — | — | |
| Q3 2014 | -3.6% | — | — | |
| Q2 2014 | +4.0% | — | — | |
| Q1 2014 | -10.8% | — | — | |
| Q4 2013 | -4.4% | — | — | |
| Q3 2013 | -5.2% | — | — | |
| Q2 2013 | -7.8% | — | — | |
| Q1 2013 | +0.1% | — | — | |
| Q4 2012 | +0.1% | — | — | |
| Q3 2012 | -2.8% | — | — | |
| Q2 2012 | -5.9% | — | — | |
| Q1 2012 | +6.1% | — | — | |
| Q4 2009 | +1.5% | — | — | |
| Q4 2011 | +1.5% | — | — | |
| Q3 2011 | -1.8% | — | — | |
| Q3 2010 | -1.8% | — | — | |
| Q2 2011 | +11.9% | — | — | |
| Q4 2010 | +1.2% | — | — | |
| Q2 2010 | +1.2% | — | — | |
| Q1 2010 | +1.2% | — | — | |
| Q1 2011 | +1.2% | — | — |
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