Exponent, Inc. (NASDAQ:EXPO) Q4 2022 Results Conference Call February 2, 2023 4:30 PM ET

Company Participants

Joni Konstantelos - IR

Catherine Corrigan - President and Chief Executive Officer

Rich Schlenker - Executive Vice President and Chief Financial Officer

Conference Call Participants

Jasper Bibb - Truist

Andrew Nicholas - William Blair

Operator

Good day, and welcome to Exponent's Fourth Quarter and Fiscal Year 2022 Financial Results Conference Call. All participants will be in listen only mode [Operator Instructions]. Please note this event is being recorded.

I would now like to turn the conference over to Joni Konstantelos. Please go ahead.

Joni Konstantelos

Thank you, operator. Good afternoon, ladies and gentlemen. Thank you for joining us on Exponent's Fourth Quarter and Fiscal Year 2022 Financial Results Conference Call. Please note that this call will be simultaneously webcast on the Investor Relations section of the company's corporate Web site at www.exponent.com/investors. This conference call is the property of Exponent and any taping or other reproduction is expressly prohibited without prior written consent.

Joining me on the call today are Dr. Catherine Corrigan, President and Chief Executive Officer; and Rich Schlenker, Executive Vice President and Chief Financial Officer.

Before we start, I would like to remind you that the following discussion contains forward-looking statements, including, but not limited to, Exponent's market opportunities and future financial results that involve risks and uncertainties that may cause actual results to differ materially from those discussed here. Additional information that could cause actual results to differ from forward-looking statements can be found in Exponent's periodic SEC filings, including those factors discussed under the caption Risk Factor in Exponent's most recent Form 10-K or 10-Q. The forward-looking statements and risks in this conference call are based on current expectations as of today, and Exponent assumes no obligation to update or revise them, whether as a result of new developments or otherwise.

And now I will turn the call over to Dr. Catherine Corrigan, Chief Executive Officer. Catherine?

Catherine Corrigan

Thank you, Joni, and thank you, everyone, for joining us today. I will start off by reviewing our fourth quarter and fiscal year 2022 business performance, Rich will then provide a more detailed review of our financial results and outlook for 2023, and we will then open the call for questions. We delivered solid results in fiscal year 2022, growing net revenues by 7% year-over-year and expanding earnings per diluted share. In a year marked with evolving macroeconomic challenges and uncertainty, we continued to showcase the strength and resiliency of our business model. We saw strong demand across the business for Exponent's diversified portfolio of services through 2022. On the proactive side, our work in the consumer products, electronics, automotive and life sciences sectors were key contributors for the year. On the reactive side, we saw robust litigation related activity and a diversified portfolio of product safety and recall related work spanning multiple industries. As innovation and technology become increasingly complex, the critical nature of our insights uniquely positions Exponent to address our clients' needs throughout the product life cycle.