Resources Connection, Inc. (NASDAQ:RGP) Q4 2023 Earnings Conference Call July 24, 2023 5:00 PM ET

Company Participants

Kate Duchene - CEO

Tim Brackney - President and COO

Jenn Ryu - CFO

Conference Call Participants

Marc Riddick - Sidoti

Andre Childress - Baird

Stephanie Yee - JPMorgan

Operator

Good afternoon, ladies and gentlemen, and welcome to the Resources Connection, Inc. Conference Call. Currently, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference call is being recorded.

At this time, I would like to remind everyone that management will be commenting on results for fourth quarter ended May 27, 2023. They will also refer to certain non-GAAP financial measures. An explanation and reconciliation of these measures to the most comparable GAAP financial measures are included in the press release issued today. Today's press release can be viewed in the Investor Relations section at RGP's website and also filed today with the SEC.

Also, during this call, management will make forward-looking statements regarding plans, initiatives, and strategies, and the anticipated financial performance of the company. Such statements are predictions and actual events or results may differ materially. Please see the Risk Factors section in RGP's report on Form 10-K for the year ended May 28, 2022, for a discussion of risks, uncertainties, and other factors that may cause the company's business, results of operations, and financial condition to differ materially from what is expressed or implied by forward-looking statements made during this call. Such discussion will also be included in the Risk Factors section in RGP's report on Form 10-K for the year ended May 27, 2023, which will be filed on July 25, 2023.

I'll now turn the call over to RGP’s CEO, Kate Duchene.

Kate Duchene

Thank you, operator. Good afternoon everyone and thanks for being with us. We are proud of our performance during the fourth quarter and throughout fiscal ‘23, a year in which we delivered growth and improved profitability despite the choppiness of the macro environment. We strengthened the company financially and improved consultant and client retention. We are continuing to change the way the world works. Coming out of the pandemic, we have seen fundamental and lasting shifts in how professionals want to work and how companies want to get work done.

We are delivering agile consulting to clients with experts who execute. Without the constraints of a bench model, we give experts choice and control over their projects so that when they engage on a project, it is because they want to deliver impact in the client's business. They are engaging in work that they want to accomplish. This resonates with clients who are weary of the traditional partnership model in which swarms of junior consultants with high bill rates get assigned to engagements without choice and often learn on the client's dime. We know there's a better way of getting consulting work done and are delivering that approach to the world's biggest and best brands.